Another CC telling us to close account

iVillage Member
Registered: 03-27-2003
Another CC telling us to close account
8
Sat, 08-16-2008 - 6:49pm

A few months back we got a letter from Wells Fargo letting us know that if we didn't close our account(maxed out at $13000)they were going to raise our rate; so we closed that one.


Well we got

iVillage Member
Registered: 11-17-2007
Sat, 08-16-2008 - 8:53pm

I am sorry I do not understand Nothing like that has ever happened to me. I got a 4 cards that have balances some are over 50% of the limit. More like 70% on a couple because I have been consolidating debt on them. And I have never gotten a letters like you are getting. Are you missing payments and being late. That would account for it maybe.


I got a card that I consolidated a bunch of money on it a few years back each year they send me a new card and

iVillage Member
Registered: 03-27-2003
Sat, 08-16-2008 - 9:45pm

Hi


Thanks for your reply.


We have never been late on any payments for anything.

iVillage Member
Registered: 11-17-2007
Sun, 08-17-2008 - 1:14am

You look better then me Maybe I should

iVillage Member
Registered: 04-12-2007
Sun, 08-17-2008 - 8:08am

Hi, Dana.


I am so sorry this is happening to you.


It seems like the main point is that they want to raise your interest rate and not necessarily want you to cancel the card.


It might be something as simple as one creditor routinely pulling your credit report and not liking the score or something in it.

Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Sun, 08-17-2008 - 9:25am

Hi Dana - I'm sorry you're going through this.


There are routine letters that creditors send out about raising interest rates.

All my best,
Danni

iVillage Member
Registered: 03-27-2003
Sun, 08-17-2008 - 10:59am

Thanks for the info on the Capital One Card.

iVillage Member
Registered: 04-26-2007
Sun, 08-17-2008 - 8:01pm

Have you looked into Money Management International? I'm working with them right now. They are mentioned in a Suze Orman book and on the Quicken software. They have been around for a long time and help people with debt management plans. You can go to their website for all the info. They will negotiate with the CC's to get you a lower int. rate and/or payment and you pay MMI instead of the CC's.

Good luck

Photo Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at Photobucket

Photo Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at Photobucket
Photo Sharing and Video Hosting at Photobucket
iVillage Member
Registered: 12-31-2005
Sun, 08-17-2008 - 8:31pm
this post scares me.

over 40 and tired