Comments on: Cheeky American Express, double the interest but a 5.4% credit in return. http://coreygo.com/index.php/2009/04/27/cheeky-american-express/ thoughts of the convoluted Mon, 28 Feb 2011 11:07:37 -0800 hourly 1 http://wordpress.org/?v=3.3.1 By: Corey http://coreygo.com/index.php/2009/04/27/cheeky-american-express/comment-page-1/#comment-443 Corey Thu, 18 Jun 2009 14:58:57 +0000 http://coreygo.com/?p=388#comment-443 Yeah, it's pretty messed up, and it's really only gotten worse with everything going on. Obviously they get more and more flamboyant with their schemes to take advantage of consumers as things progress. Yeah, it's pretty messed up, and it's really only gotten worse with everything going on. Obviously they get more and more flamboyant with their schemes to take advantage of consumers as things progress.

]]> By: Margaret http://coreygo.com/index.php/2009/04/27/cheeky-american-express/comment-page-1/#comment-442 Margaret Thu, 18 Jun 2009 06:28:23 +0000 http://coreygo.com/?p=388#comment-442 Try being someone who NEVER carries a balance with them having your limit decreased because you work in the auto industry. Yes, that's why nearly all my cc limits have been cut and why my rates have increased. I'm in zero danger of being laid off - don't work for the "big 3", but it's all about demographics and numbers. Doesn't help that I live and work in the 2nd highest state reporting unemployment figures. Guess I will have to go the cash route on purchases until this whole mess gets straightened out. Congress' bill is going to help zero with these practices Try being someone who NEVER carries a balance with them having your limit decreased because you work in the auto industry.

Yes, that's why nearly all my cc limits have been cut and why my rates have increased. I'm in zero danger of being laid off – don't work for the "big 3", but it's all about demographics and numbers. Doesn't help that I live and work in the 2nd highest state reporting unemployment figures.

Guess I will have to go the cash route on purchases until this whole mess gets straightened out. Congress' bill is going to help zero with these practices

]]> By: Ian http://coreygo.com/index.php/2009/04/27/cheeky-american-express/comment-page-1/#comment-441 Ian Sat, 16 May 2009 12:36:24 +0000 http://coreygo.com/?p=388#comment-441 It is in their interest, and the interest of any current creditor with the ability to change interest rates (if they only look at THEIR relationship with you and do not consider other creditors) to lower your credit score. That way they have an excuse to raise your rates even higher. The only people who can benefit from decreasing your credit score are the ones who have the greatest power to lower it. These are the companies that are giving FICO most of their business. The threat of decreased credit scores is also how credit monitoring services are sold, including by the credit bureaus. Credit reporting AND scoring are a racket. It is in their interest, and the interest of any current creditor with the ability to change interest rates (if they only look at THEIR relationship with you and do not consider other creditors) to lower your credit score. That way they have an excuse to raise your rates even higher.

The only people who can benefit from decreasing your credit score are the ones who have the greatest power to lower it. These are the companies that are giving FICO most of their business.

The threat of decreased credit scores is also how credit monitoring services are sold, including by the credit bureaus.

Credit reporting AND scoring are a racket.

]]> By: Leroy http://coreygo.com/index.php/2009/04/27/cheeky-american-express/comment-page-1/#comment-389 Leroy Wed, 29 Apr 2009 05:02:30 +0000 http://coreygo.com/?p=388#comment-389 "Logged into Amex’s website to verify the rates and all that. Looks like the jerks dropped my limit on the Clear card a couple grand to within $117 of my current balance. Thanks for screwing with my credit score once again Amex." They did the same thing to me. I had a limit of 15k, and had a balance of 7300, and they dropped my limit to 7500!!! "Logged into Amex’s website to verify the rates and all that. Looks like the jerks dropped my limit on the Clear card a couple grand to within $117 of my current balance. Thanks for screwing with my credit score once again Amex."

They did the same thing to me. I had a limit of 15k, and had a balance of 7300, and they dropped my limit to 7500!!!

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