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Deep Thought

You probably have a better credit rating than your bank.

8 comments

1 LadyMin { 03.19.09 at 1:25 pm }

Ha! That’s funny and I never thought about that.

And yes, I ‘m sure I do because one of my CDs is at B of A. 😐

LadyMin´s last blog post..Sci Fi = SyFy … Really Now?

2 Bryan { 03.19.09 at 2:01 pm }

It occurred to me as I was fending off another credit card offer. I think it was Capital 1 trying to suck me in because I don’t have any credit card debt.

3 LadyMin { 03.19.09 at 2:36 pm }

Grrrrrrr. Capital.

I have one of their cards that I use for business only. It is one of their special business rewards cards. I have never carried a balance. I haven’t even charged anything on it for a while because, well, we aren’t spending or traveling much right now.

So it was a surprise to me when they sent me an evil letter saying my APR has been jacked up to some outrageous double digit figure from the preferred business 9% rate. Plus a few other changes in terms and if I didn’t like it I could cut up the card and cancel my account. WTF? So I called and got transferred to …. wait for it… a call center in India!

The clueless rep could not explain why this happened but that yes, it’s correct, and no, I didn’t do anything wrong. A quick check of their web page shows a low rate still available. I get the impression they don’t want me as a customer. But l won’t cancel the card, I’ll keep it active by charging $5 a year and cost them money.

LadyMin´s last blog post..Sci Fi = SyFy … Really Now?

4 Bryan { 03.19.09 at 3:05 pm }

My Mother has one with my name on it that I use for her on the ‘Net. She hasn’t had a balance with them since the 0% introductory offer ran out. To the best of my knowledge, she doesn’t have a balance on any card that isn’t 0%, she pays them off.

They keep sending her offers, and she tells them she won’t accept anything larger than prime plus 5%, which no one wants to accept.

5 Badtux { 03.19.09 at 5:29 pm }

My “bank” is a credit union that would still be solvent if every single loan they have outstanding went bad (which is *not* happening), i.e., they have a *ridiculous* amount of reserves on hand, so I doubt that this little witticism applies to me. I’m lucky to live in a state which allows county-wide state-chartered credit unions, so I’m a member of the former Lockheed credit union (which now that Lockheed is winding down is open to anybody who lives in the county). My opinion of banks:mlm (view as four knuckles and a finger :-).

– Badtux the Credit-worthy Penguin

Badtux´s last blog post..An interesting paper

6 Bryan { 03.19.09 at 5:48 pm }

A credit union isn’t a bank, which is why I have my money in one. The last bank I liked, Peoples, was eaten by Barnetts, which was eaten by Nations, which was eaten by Bank of America. That is why my money is in a credit union [well, and the fact they pay interest on all my accounts.]

The two banks my Mother deals with have been eaten twice since 1995. The bank used for the apartments she manages has been eaten twice since 2006.

Banks aren’t very stable any more.

7 Moi;) { 03.20.09 at 8:34 pm }

Oh, I KNOW I have a better credit rating than my bank. Maybe even my credit union.

Moi;)´s last blog post..Spring!

8 Bryan { 03.20.09 at 10:01 pm }

The first of the credit unions got taken over today, so I wouldn’t be surprised.