First, they post all positive user reviews by date going back several years, then all negative user reviews are buried at the end. That wouldn’t concern me so much, but it’s in the negative reviews that you find out stuff you need to know, and I’d feel better about them if they sorted everything by date.

Second, payments take 7 days to post – this wouldn’t bother me because I don’t max out my card, but for some folks this is crippling.

Third, USAA has a serious fraud watch service, which is great if someone has stolen your card but extremely bad if you are traveling and have only one card. Some folks even notified USAA before traveling and still had their card actually cancelled while they were traveling. USAA would call their home number to notify them but, of course, they were traveling so they didn’t find out until they tried to use their card at a hotel in the middle of the night. At that point USAA would tell them there was nothing to be done. It didn’t just happen to one member – it was a frequent complaint. I understand why they do it – they insure the cards against fraud and they don’t want to pay for fraudulent transactions, but that would seriously leave me in the lurch.

Finally, there is a 1% fee on all foreign transactions. For service members stationed overseas this can significantly increase the cost of living. For the rest of us who travel occasionally this is a deterrent.

I only keep one credit card, so the traveling problems will keep me from pursuing the USAA card even though their advertised interest rate and rewards program look good. Others might find it more useful but ought to take a good look at the fine print before making the jump.

Disregard Chase and Citi. They are the slum, gas station equivalents of banks. Just seriously take a look at their “bankers” to see what I mean. They are degree-less, spiky-haired, illiterate pathologies.

If you feel you must use Chase for ancillary services, and you don’t want to pay any fees, simply have your payroll services deposit $100 into a debit account each pay period to take advantage of that loophole.

And by the way, USAA offers “persistence” perks for being a longtime member. They do all these wonderful things for their clients (dare I say family members), because they conduct business by the philosophy of “good service derives true success; all else is theft.”

They did not take any bailout. They didn’t need it.

I am going to court in 1 yr ( May 2011) can not wait to tell the judge how they changed the terms of the contract and it became a domino effect. credit score has decreased at least 70 point. never had a late payment until Citibank would not make a payment plan and told me my income was too low for one.

we shall see who prevails. I noticed on the web that the credit card company’s do not show for the case management and get fined $250.

Well, I am looking at this from a positive perspective: it will force me to pay it off and not incur deeper debt. So, for that I am happy.

However, just to point out; my FICOs are in the mid 700s & with CITI, I have always paid on time, and paid more than is due.

But, the credit customer service says that now when they review accounts annually, they look at ALL of your outstanding debt. Oh well, such is life.

The one last thing that drives me INSANE is how all customer service reps are programmed to always point out; “well, due to the nature of the economy”….

CITIBANK can go and collapse for all I care.

grrrr.

http://www.huffingtonpost.com/.....73938.html

All the big banks have former congressional staffers, dozens of them, to lobby washington against us. How do you fight the good old boy network?

so.. My present score at Credit Karma- 598

I tried to add comments to my report but even with certified letter receipts the banks prevailed as to who closed the accounts. I did.

Fair Issac is as much a part of this as the card comp and banks!!!!!

I have realized that congress could care less nor any part of the govt nor the watchdog groups.

why has this not happened to an atty who can do a law suit? its insane. better off living off the grid if you can. there is more to this bull then we see!

That would all make sense if the banks had not been doing this fully a year before all the bailout stuff began. They started with “riskier” customers, then moved on to everyone else.

Yeah hindsight is 20/20, don’t carry a balance, blah blah, but the fact is that nearly 50% of credit card holders carry a balance. Not everyone has the luxury of keeping $20K on hand for such circumstances, this is the real world afterall.

I wonder if this spate of credit limit slashings, which on their surface seem hardly likely to benefit issuing banks, arose as part of some backroom deal or secret instruction that was part of the federal bank bailout, or perhaps as a membership requirement for banks to keep feeding at the Fed discount window?

It seems to make little sense for companies like AMEX to willingly and wilfully eviscerate their bottom lines and throw away years of hard-earned goodwill from longstanding, excellent customers merely to spruce up contingent items on their balance sheets.

Rather, I wonder if the real reason was part of a larger policy decision to forcibly boost personal savings among the middle class by eliminating the huge unused lines of credit that have come to replace the savings cushions of ordinary Americans.

It is indeed shocking that the beneficiaries of so much unsecured credit lack the personal savings resources that would prevent them from being adversely impacted by a reduced credit limit on a revolving account.

It also begs the question of what business does a responsible bank have issuing $10,000 to $50,000 lines of credit to persons who can’t seem to keep a $20,000 cushion of funds in their checking accounts?!

How is it that r gov gave them money for 1% and the get away with RAISING R rate to the moon.

Why didn’t OUR gov give us the money at 1% then we could pay them off.

This government is a criminal organization in collusion with the corporations. They pretend to before us. It’s nothing but a show.

By the way I wrote my reps about this. Nothing happened. I have decided to opt out.

Sears mastercard did the same to me about 6 months ago. reduced my limit from 4000$ to 3500$. I paid them off and don’t use the card anymore. Interest is too high anyways. I kept the account open though to keep utiliztion ratio good. I will never shop at a sears/kmart store again as my personal boycott until limit is restored back to 4000$. Same as you – credit score 700/no missed or late payments/loyal customer. Chase also did this to me last week. Paid off two cards with 5000$ limits. Limits were dropped on both to 900$. These I did close only because I hate Chase with a passion.

Chase gave me the option to continue with the $250.00 a mo. if I would except 7.99 % intrest rate. I agreed under duress. What could I do except to just stop paying????”

You may have figured out by now, but it seems to me that actually Chase offered you two options of their design but didn’t mention your existing legal right to outright reject the whole thing. You still had the opportunity to reject their two offers, reject their terms, close the account, and pay by the original terms including the 2% minimum payment.

If it makes you feel better, I fell for the same thing: believing that what chase was calling my option to not accept the new regime exhausted all the legal options in place for me to reject those terms.

One lesson learned by me: It pays to move a little slowly when responding to a complex thing that is presented by a “shark”.

Since this was my benchmark card, this is going to kill the part of my credit score that speaks to length of credit history (sigh). Good thing I really don’t need credit much.

There are a lot of disgruntled customers in this country who need to be heard.
FOLKS, DO NOT TAKE THESE ABUSES AND DO NOTHING!
THIS IS STILL AMERICA FOR GOD’S SAKE!

As you read these sites, take advantage of the links and contact addresses and let your voices be heard!!