Wednesday, February 18, 2009

Venting

I was going to write about underwear today, but right now I'm mad and I need to vent, so underwear might have to wait until tomorrow!!

Okay, so I get home today and I'm standing at the kitchen table opening the mail and I open an envelope that says on the outside, "Important Information Regarding Your Account". It's from Capital One, which is one of our credit cards. I'm thinking, so what can be so important? I know, I know, you want me to charge some more because you aren't making enough money off of me with interest rates so low.....

I pulled the paper out of the envelope and the front says, "Important notice of a change in terms regarding your account ending in: XXXX. Now they have my attention!

You guessed it....they are raising my interest rate from the sweet 5.99% that it is today to 15.9%. OUCH! Of course, we can choose to close the account and keep our 5.99% until we pay it off or we can keep our card with our wonderful new rate. Uh, I don't think so.

Naturally, we will be closing the account today, but man does that ever tick me off! We only have 2 credit cards. One is a Discover that is just in my name that I've had for years, and then the Capital One is in Irv's name.

I hate credit cards, but on the other hand they have been there when we needed them and for that I am grateful....however, after today, Irv won't have a credit card and I'm not sure I am comfortable with that. I worry about there being an emergency where a large amount of money might be needed that we don't have. Then what would we do? There are still places that don't even take Discover. We need a VISA or a Mastercard....but I don't want a new credit card. I am trying to pay them off and get out of debt! UGH!

This has to be a sign from somewhere. It has to mean something, but what is it? Kathy, you need another credit card. Kathy, you don't need any more credit cards. Kathy, you are one weird woman.....probably the last one!

I am working right now to calm myself and look at the big picture. We have jobs, we have insurance, we have our home and the fact that Irv won't have a credit card is really no big deal. If we need money....we'll just ask our kids! Okay, I feel all better now.

10 comments:

Lanyardlady said...

Don't get me started on credit cards. In my opinion their rate hikes and those blank checks they send ought to be illegal. I'm really excited about the underwear post!

Angela said...

Uh OH! I have a Chase and a Capitol One...I really don't owe much on either. But, after you said that it makes me want to hurry and pay off C.O. I have no interest until November. but this has gotten me thinking...What will the interest be when they do start charging?

Ok...I just decided I have to pay them off by November. I need to work on a little plan. Thank goodness I do not owe much.

Meekiyu said...

I'm wary of credit cards even though sort of need it to build up credit whatever that really means... I did have a Chase card but I never used it and they closed the account since I haven't used it for a year since I opened it. Now my wonderful wamu/chase bank is pushing for me to get a credit card... sigh?

i too look forward to the underwear post... that is more delightful to talk about then credit cards. =D

T.Allen-Mercado said...

*Rolls eyes at financial institution hijinks and cheers in anticipation of the underwear post*.

Bring on the drawers!

Beth Jaffe said...

No credit cards! That is our policy. They get me in megamega trouble so we don't even use them. One for emergencies, of course, and that's it! Good luck 'cuz they'll eat you alive!

aliceinparis said...

I've got some credit cards and use them for the points, paying off the balance each month.It is nice to know I've got them should any kind of emergency arise.

Cecile/DreamCreateRepeat said...

Wow! That is some interest-rate hike. Maybe you can add your husband to your card and share the one "emergency" account?!

Underwear, huh?!

missknits said...

oh i hear ya! i just dealt with the same issue with my CC comp and not happy! its amazing they can get away with it, even if you always pay on time and more than the min.

Cathy Winsby said...

That's rotten! My husband ordered me a supplementary card on his account. 2 cards each with our own names on them but one account (bill) works great.

Total Delights said...

Perhaps you should cut the card into 15.9 pieces and mail it back to them. That is just so wrong.

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