hey guys,
i know this is not the right place for my question, but i am a newbie and cannot figure out how to post a new thread. my question is

Have you tried Capital One yet? What is your EQ score? If you are in the low to mid 600's give Capital One a shot.

Walker, 52, says she missed a single credit card payment in 2007, causing Juniper Bank, the U.S. credit card arm of Barclays, to impose a late fee and more than triple her interest rate to 20%. She signed up for a credit-counseling program to get a handle on her bills.
Before she could do so, other banks also penalized her, possibly for the late payment to Juniper, a common practice in the industry. Bank of America cut off an overdraft line of credit on her bank account. American Express more than halved her credit line to $14,000, cutting off a key source of liquidity for her business. Then GE Money raised her interest rate to 23% from 16% on a store credit card and lowered her card limit to $100 from $4,000.

Now that is crazy. Juniper should sit down somewhere! This is why I try to tell people to try not to miss a single payment. If your funds are running low, take advantage of the minimum payment until you can do better. There are still some creditors who practice Universal Default. I feel sorry for this person.

Creditors are the one who can cause you to mess up your report. They are sitting up there decreasing cl's and then that cause you to say forget it or take your time paying on it especially if it caused you to be over the limit.

I thought this article might fit here:

http://www.usatoday.com/money/perfi/credit/2008-12-15-credit-card-consumer-squeeze_N.htm


tell me what you think

kick them to the curb with no corners.

Exactly! You are going to experience what I did, I remember when I posted all my accounts up and I remember cap 1 being $300, well they are waaay over the other ones and have been beneficial toward my finance experience. Aspire, I can understand that we have to rebuild somewhere, but you have nice cards, kick them to the curb with no corners.

Postbkcy13, you have more than enough cards to rebuild your credit. Feel free to close the Aspire card without any regrets and take of your other cards. You will see the Capital One card grow as long as you meet their simple guidelines.

Just before we got the letter I actually did apply for the Capital one card and got the 7-10day message but was approved for 300cl. I was thinking that I was ready for a step up and my history had warranted that. I will use this card wisely.

This was just a shock to us and we knew that banks were lowering limits but closing completely hadn't happened to us until now. Here are the cards that my husband and I have:

Target 200cl
Aspire 1050cl
Applied Bank 750cl
Credit One 350cl
Premier Bankcard 300cl (first one after my bankruptcy)
Capital One 300cl
Kay Jewelers 880cl
Rewardzone Mastercard 320cl (just increased a big ole 20bucks 10/08)

Best Buy 500cl (my card is the program B which does not allow increases, you actually have to apply to get out of the program B, silly)

Orchard 400cl (one increase in 03/08 from 300 to 400)
Household bank only lets you have 3 cards with them.

I think I will call and close the account and just be done with them.

How long have you guys had the account, its definitely not you'alls fought that they are terminating the program, but sense either way it will show as a closed account, I would call them and close it before they assess the annual fee, why pay for a service that will not be available to you? Just my personal thoughts? I read somewhere that the credit bureaus were aware of issues such as these with certain banks and were considering them accordingly score analyses (when scoring credit).

We are living in unprecidented times, things like this are going to continue to happen for the short term I think.

How long have you guys had the account, its definitely not you'alls fought that they are terminating the program, but sense either way it will show as a closed account, I would call them and close it before they assess the annual fee, why pay for a service that will not be available to you? Just my personal thoughts? I read somewhere that the credit bureaus were aware of issues such as these with certain banks and were considering them accordingly score analyses (when scoring credit).

We just got a letter in the mail today (12/13/08) stating that our Aspire Visa was "Terminating its Program" but the account will continue to have an account maintenance fee until the balance is paid off. However this termination will not take affect until 12/24/08 so they are still able to asses an annual fee of $99 to our account before terminating it. Why should we have to pay an annual fee if the program is being terminated.

We were doing so well with rebuilding our credit after a chap 13 bk and now this happens. We were never late on any payments and got credit limit increases every year on the anniversary date and have been with them for 3years. We have other credit cards that we are maintaining but i'm affraid that this may put a negative remark on our credit report.

Has anyone else had this happen?

Way to go on your cli, please add it to this thread
https://www.financeglobe.com/SocialNet/forum/showthread.php?t=413&highlight=report+cli

Congrats! It's always great hear about CLI's! CLI's always make my day.

I hope the same doesn't happen with me and my Hooters. That's craziness that they're doing that to their established customers.

On the brighter side, I've only been with Cap One for 2 months (and haven't received any credit steps notice, they started me out with the 300 limit, and I have paid my 2 months in full before the due date. Today, I thought I would be adventerous and call the back door number and see if they could show some love and sure enough, she increased my limit to $600 now.

CapOne is absolutely the BEST! And I am glad to have them back in my wallet.

Exactly!