Kiss My Ass Chase and Advanta

Warning:
There will be some foul language in the following post. I just can't do it without it.

Remember back in the good old days when you actually had to do something to default on your credit card account like be late on a payment or miss a payment to get your rate jacked through the roof? Back in the good old days a Chase or Advanta might even refund your late charges if you overlooked a payment date and it was not something you made a habit of. After all, "with Chase the right relationship is everything", or so they say.

But that is not the case with my credit card accounts this week.

Today our relationship officially became estranged on its way to inevitable divorce.

Yeah...like many people I carry more consumer debt than I really wish I had. We all have our excuses and mine are probably very similar to a lot of other folks. My partner had some rough times this past year and we used my credit to try and stave off damage to her credit rating but we came up a couple months short of her finally getting the job she needed to cover her debt payments. Oh well, I guess we could have just defaulted on her debt right of the bat and saved ourselves some money but we don't roll like that. So, we sucked it up and moved on with meeting our obligations on my debt and paying catch up on her debts that we fell behind on.

I have always held that when the Bankruptcy laws were changed, The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, a few years ago it was the beginning of the great consumer credit set up and the fun was just starting for people who found themselves cashing those credit card convenience checks that came in the mail every other day.

The details of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 reveal it to be a bill crafted as a Republican paean to MBNA, the largest single contributor to the Republican party.

Every time I received them I wondered how many people would those checks find in dire straights that particular day and how many of those people would actually feel it was their only option and use them. I am not talking about the fool that bought a wide screen HD TV with it. I am talking about the woman who needed a 400.00 part to fix her car so she could get to work and had no other way to pay for it. I am talking about the man whose paycheck did not go up in proportion to 4.75 gas. There was that little convenience check in the mail that day and it even offered a 3% fixed APR for the life of balance. Did you think they really meant it when they said they just wanted to help you out? And you were going to pay on it diligently until you paid it off, right? Think again.

This week I received letters from my Chase and Advanta Cards letting me know they had raised my interest rate and lowered my credit limits. I didn't even have to be late on a payment much less miss one to get this nice little gift of a 30% interest rate from Advanta. Chase was ever so much kinder, weighing in at only an 8% increase in my interest rate. You sorry ass Fuckers.

So, you might ask, how is it they can just decide to do such a thing after I never defaulted on my payments?

It is all about my credit rating. Which is affected each and every time I am extended credit from the same said credit card companies. Regardless of my having not asked for it or whether or not I actually used it. Sound like a scam? You are damned right it is.

I guess all that bailout money was just a little appetizer. Our asses are the main course.

Of course, I immediately called up Advanta to protest. Jennifer the very pleasant young woman who took my call informed me that there was really nothing they could do. My point that I had held up my end of our deal was apparently quiet insignificant. I told her I wanted to close my account as I could no longer do business with such a unscrupulous company. I also wished Jennifer well in her future with Advanta as I was sure many of their other customers would be taking the same route to the door I was. She kindly informed me that I could actually keep my current rate if I would write them a letter to close my account the before March 16. They jack my interest and I have to write them a letter. It is almost like they are trying to get rid of me.
Is it because they have way too many conscientious, never late, paying customers? Bastages.

So, in conclusion.

Six months ago I could have all the credit I needed and some I didn't even want or use.
And today Chase and Advanta dealt from the bottom of the deck the Republican party gave them back in 2005. I am lucky in one respect anyway, if I can hold out until my house sells (stop laughing) and I pay these blood sucking vampires off they will never, ever see another cent of interest from me. Sorry, Jennifer, if I were you I would be looking for a new job with a company with a future. I don't see much of one for Advanta if this is how they intend to do business.

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Peace Y'all