If they did that to me I would have to default. They should face legal ramifications for things like that especially after getting billions from the government.

Tim, are u on welfare ???

If you didn't have any credit cards and spent within your means, this story wouldn't exist.
Life can exist without credit. Simply SAVE for what you want.

Don't charge more than you can pay when the bill comes in, and you won't have to worry about minimum payments or interest rates. Pay your bill on time and you won't have to worry about late fees. Why do you need to speak to a person to pay your bill? There are ways to pay your bill that don't involve extra fees. Like the previous poster suggested, live within your means. (And don't make excuses about not making enough to get by; whatever you make, learn to live on that.)

Don't charge more than you can pay when the bill comes in, and you won't have to worry about minimum payments or interest rates. Pay your bill on time and you won't have to worry about late fees. Why do you need to speak to a person to pay your bill? There are ways to pay your bill that don't involve extra fees. Like the previous poster suggested, live within your means. (And don't make excuses about not making enough to get by; whatever you make, learn to live on that.)

Why people choose to carry a balance on a credit card defies logic and reason. Credit card companies should run the way the old American Express green card was run. You had to pay off the balance on the AMEX card every month. Credit card companies should not be allowed to extend credit to people who cannot afford to pay the minimum balance on time. Furthermore, if a person cannot pay a measly 5 percent of their monthly balance, they too should be denied credit. Credit cards are tools, not free money.

I'm running into the same issues with my credit cards (esp Bank of America). But they are being passive/aggressive. They're increasing purchase rates, minimum payments, late fees, etc. But they're still giving 2.9% to 5.9% interest on balance transfers. I've even got some offers for new credit cards. I don't think they know what they want customers with excellent to good credit to do.

Hey,roupie, next time you go on vacation try renting a car with your savings. Good luck.

Great advice about paying every month and living within your means but some folks are beyond that ability so why don't you give some advice to address their problems? Like how to pay all bills when you have more bills than money each month. How to pay your bills when you have been layed off.

Jan wrote "... how to pay all bills when you have more bills than money each month. How to pay your bills when you have been layed off."
Start by looking at how you got into a position of having more bills than money. Cut out the non-essentials. I have a friend who is always stressed about her financial woes, but still
has all the premium channels on tv, still orders take-out dinners and picks up fast food for her family of 5, still buys bottled water, etc. And she fools herself by trying to justify each expense. Anyone who is serious about getting out of debt has to carefully examine their spending patterns and cut back everywhere possible until they reach their goals. Another thing is to bulld an emergency fund so you don't have to live off your credit card if you get laid off. IF you are currently laid off and have no emergency fund, you should cut back to essntials only, and contacdt your creditors to see what can be done.

I always paid my AMEX card in full when the bill came, and never missed a payment. Even though I have great credit, AMEX still lowered my credit line from $26,000 down to only $1,000. I could understand if I screwed up, but I never had a problem. You can't even buy a 46" HDTV for that. What the hell does AMEX think they are doing to their "Good Customers?" I am going to tell AMEX to take a hike. They can’t treat the people that are making their payments timely that bad and expect them to continue doing business with them. They will never see my business again.

Just stop paying these thieves

If you didn't have any credit cards and spent within your means, this story wouldn't exist.
Life can exist without credit. Simply SAVE for what you want.
Posted by: Dave Ramsey Fan
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A credit card has some advantages. I use it for a large purchase or shopping online; I have the backing of the credit card company if something goes wrong. I also use it for different promotions, sometimes it's cashback, sometimes it's 5%-10% off groceries or gas etc.

Have no idea why you should assume because someone uses a credit card, they aren't living within their means. Seems like if you are such the "smart saver" you would know that smart use of a credit card can save you money.

I've been finally noticing Target Visa lowering my credit limit frequently in order to keep the limit just a matter of 5 cents above the balance. This hurts my FICO score which I'm trying to go the OTHER WAY on. They gave me the canned "well, something must've changed with your credit or your wages". All a crock. I always paid my bill ontime and two to three times the minimum to build my credit. I closed my account two days ago and paid them off. I have a good job that's almost recession proof as well. If they treat good customers this way and we never come back, what are they going to be left with? Exactly what they deserve. Defaults.

Yep. They did it to me. 2% to 5%. The entire balance is 3.9%-4.9% interest rate and a high balance, so I am not surprised they are trying to force me to pay down on the low interest debt.

ALL of my credit cards, after being a good customer for years, and always paying on time, decided because i was a good customer raised by interest rates AND lowered my credit limit.

I then called each and every one of them and informed them that to repay that favor, that starting today they would be receiving NO further payments from me.

I am taking that money i WAS going to pay them and take a nice cruise.

The moral of the story, you CAN live without credit, just use an atm card and cash for everything. I cant wait for the economy to get better so we start getting these banks to start BEGGING people to open credit card accounts again , only to find out that credit cards are NO LONGER needed!

GO SCR*W YOURSELF BANKS OF AMERICA! WE DONT NEED YOU ANYMORE!

The credit card industry is long overdue for some regulation. Their free for all ends next February when President Obama tightens the rules on those crooks. God bless President Obama.

Keep it coming, everyone. Credit card companies ask consumers to be responsible. We should ask the same of them.

OBama didn't do anything he gave the credit card companies plenty of time to get their ducks (and high interest rates) in a row before that law is in effect.