Should i feel bad?

[InOverHead]

Although i now realize it's unlikely i will even be able to file a BK. I have given a lot of thought to what exactly i would be doing to the people that loaned me $$, i mean if they were personally known to me not paying would never be a consideration - It would only be a matter of when.

However, i have always felt my credit cards to be more or less a 'security blanket'. I sleep a little better at night knowing that if the financial world comes falling at least my credit could buy me some time until i figure a way out.

But are the Credit Cards really there when needed?

Last year while shopping at Target they offered 10% for opening an Acct. They gave me a 5k Limit, i charged $500 and payed it off. Recently (2 months ago) they sent me some promotion in the mail - Use card and get 5%. I started using this card, it was the beginning of billing statement (October), used it exclusively all month then at the checkout of target with $150 in groceries and stuff - Declined! Next day i swipe for $5 coffee - Accepted. Another day, another Coffee - Ok. I then try to pay a $130 cable bill - Declined.

So i call them wondering what's up. They say i am over my credit Limit. I inform them that they are Wrong - 5k Limit. They say No. In August it was Lowered to 3k and in Sept down to 1k. I am now upset and let them know that they they need to tell me this prior to send promos and now this makes my credit profile look bad as i am maxed out!

I mean i had not even been given a chance to pay. No statements sent. Our History was i would get a statement and pay it off. This is really aggravating and unfair (although im sure in the Agreement they have the right) still doesnt sit well...

I guess what i am feeling is i am an 'eye for an eye' type person, going over potentially filing i was feeling rotten, have to admit that i couldnt care less honoring my obligation with them. The only reason i will pay now is to avoid negatives on my report, Otherwise they wouldnt get anything! Once the balance is Zero i will close the account

[Peeps]

Don't feel bad. I ended up with a Target Visa Redcard a couple of years ago. They lowered the limit by a few thousand dollars after I failed to max it out. They didn't tell me anything about it either... they just quietly lowered the limit and pretended like nothing happened. They don't even offer the visa card anymore. I'm guessing they decided to get out of the credit/bank card business and are attempting to reel in as much as possible. They seem to be more focused on their store cards now.

And I agree totally about not feeling bad about any obligation to them. They're a rather unpleasant group to work with when it comes to their credit cards. I know they're going to be VERY unhappy with me in about a week when I miss my $230 payment for the first time ever!! Oh well... it is what it is. I know I'm not going to lose any sleep over it.

[oregonpilot]

I also looked at my CC's as a cushion. Had a limit on Chase of 20k with balance of 900.
In my great wisdom i thought i had quite a few yrs with it as a stop-gap if i ran into a medical emergency. No med insurance. Well suddenly they dropped my limit to just a few dollars over what i owed.
Discover dropped my limit 2k less than what i owed without even telling me. I had just paid my contractors license and bond with it. ACK all my other limits were dropped to what i owed within a couple of months. and rates went nuts.
ALL this happened when i made my citi payment on friday (due on Sun) but about 1/2 hr or something close to that after cut off time for payments to post for the day.
I sure have learned that there is no assurance of anything with the CC's
BUT i think I am a better woman because of all of this.

[helpme2010]

One of the things that pushed me into not being able to pay my mortgage when I lost my job at the beginning of the recession was credit card companies and worst of all my mortgage company cutting my line of credit. I had lost several jobs before this job and was able to tap into my home equity line of credit to pay my mortgage during previous unemployment periods. Imagine my surprise when they send me a notice telling me my credit line had been cut. Then seeing my credit card companies begin suddenly lowering my credit lines.
--
I then lost my love for the credit card companies when they failed to work with me by temporarily lowering my payments until I could find a job again. I laid out a budget that required me to pay my credit card payments for half the normal payment amount. I had to fight like heck to get them to go along, they harassed me daily with calls, around a half dozen times or more a day. They refused to give me another 6 month extension. Not only did they refuse, but they continued to shove penalty fees and other amounts that were making my balance skyrocket. They called me all day everyday harassing me.

I told them they were putting bad marks on my credit report which would look bad to employers interviewing me, which would cause me not to get a job so I could pay them back. They refused to work with me in any way, so I finally just said F You and filed bk. This was the smartest move I ever made.

Hey I tried to work with them, I tried to pay them. I just asked them not to destroy my life and work with me on lower payments, but they got what they deserved. I really hate the credit card companies, as they are happy to get tax payer government bailouts and government benefits, but they don't pass along that assistance to the people that pay their bills, the customers who need the help the most.

I instead look at these people as greedy corporations. You are not hurting them, they are not an individual person you borrowed from, instead they are greedy empires making record profits at your expense.