Los Angeles, California
Not resolved
3 comments

Have several credit card accounts that were once through Washington Mutual, and after the great govermental bait and switch or better known as the TARP program, the bigger banks swallowed up the little banks, and Chase took over Washington Mutual.

All of my limits were the same and I have never missed any payments to any account. Yesterday I was checking my account balance concerning available credit, and as I had my March statement in hand, my limit was still $6000.00 minus my balance of $2,477.00 approximate. My phone call informed me, that I had an open available of about $532.00, of which after a long talk with the crooks that work with the people calling in, that $3,000.00 had been dropped, due to my overall indeptiness concerning my credit report!

This is not my first encounter with the credit card thieves that drop, or elimiate credit limits at their discression, but usually it is for accounts that lie dormat and not being used.

I could bearly stand the increase in all terms and conditions that the credit card industry has imposed upon the American public in lieu of the banks and Wall Street creating this huge mess that has decimated this once great nation. But now as America is bleeding out like a giant harponed whale on some beach and the credit card companies are circlying like blood thirsty vultures waiting to come in for the final kill.

They (the credit card companies) are closing the valve of the American peoples' credit lines, as they are all now dedicated to giving all of the credit to China with its booming economy, as ours again is dying!

They shall be the creators of their own doom, and it can't happen fast enough!

I would urge all those who can, check into filling bankruptcy and wash all of these greedy bastards from *** back to where they originated from! Lets face it, as the economy will probably not come back in our life time, we will not be buying another house nor should anyone be buying a car, so to *** with the credit that we all try so hard to protect and then are screwed by the credit card companies for always making our payments on time, and then treated like a used rubber by those like Chase!

Product or Service Mentioned: Chase Bank Checking Account.

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Anonymous
#122450

This one is a bit complicated...

1- Don't blame the banks for the new terms & conditions, blame the politicians that created and approved the laws.

2- While we as a nation have become used to spending today and paying tomorrow, we must remind ourself that credit is not a right, but rather a priviledge and therefore banks do not have to get your approval when lowering your credit limit.

3- The best thing people can do at this time is indeed file for bankruptcy, this will not only stick it to the banks, but also if you have any brains, it willprovide you with the oportunity of becoming a cash only person, meaning you will only spend what you can afford and will force you to live within your limits, nowadays we are used to over spend just because we have plastic money, I personally think this behavior in part is what has gotten us in the mess we are in today.

4- Depending on each individual situation, this may also be the perfect time for those who purchased a house within the last decade to let it go into foreclosure and purchase another one at a much cheaper price, of course, you must buy first, foreclose later, otherwise you will not be able to get a mortgage.

Finally, do some research.... we are not lending China, the opposite is true, we owe China over $700 Billion, and by 2020 it is forecasted that we will owe them $20 trillion. My advise to everyone ...start learning Chinese. Good Luck to all!!!

Anonymous
#122448

This one is a bit complicated...

1- Don't blame the banks for the new terms & conditions, blame the politicians that created and approved the laws.

2- While we as a nation have become used to spending today and paying tomorrow, we must remind ourself that credit is not a right, but rather a priviledge and therefore banks do not have to get your approval when lowering your credit limit.

3- The best thing people can do at this time is indeed file for bankruptcy, this will not only stick it to the banks, but also if you have any brains, it willprovide you with the oportunity of becoming a cash only person, meaning you will only spend what you can afford and will force you to live within your limits, nowadays we are used to over spend just because we have plastic money, I personally think this behavior in part is what has gotten us in the mess we are in today.

4- Depending on each individual situation, this may also be the perfect time for those who purchased a house within the last decade to let it go into foreclosure and purchase another one at a much cheaper price, of course, you must buy first, foreclose later, otherwise you will not be able to get a mortgage.

Finally, do some research.... we are not lending China, the opposite is true, we owe China over $700 Billion, and by 2020 it is forecasted that we will owe them $20 trillion. My advise to everyone ...start learning Chinese. Good Luck to all!!!

Anonymous
#122261

I had the same thing but my old limit was 3,000 and they cut it to 1,500 without warning. I paid every payment in person so I wouldn't have any problems, and they cut my limit without my consent. I'd close my credit account after i pay it off but i've heard that puts a mark on your credit:(