Most of us have several major credit cards…
Visa and MasterCard are the main ones in todays crazy, credit-friendly world. And they try and give you as many cards as you will take – that is if your credit can handle it.
In the beginning many cards are zero interest for months or even a year, then the fun begins. Even if you pay on time and keep your limits decent, the company – the bank – can raise your interest payments for no reason. Sure, they’ll send a letter saying we raised it because you have too much credit. Nice.
And today the rates can go as high as 29.9 percent.
That despite the fact that most banks pay no more than 1 percent interest on CD’s and even less on savings.
Meaning nothing.
During the tough economic climate of 2007-2009, credit card companies went to work on almost everyone. In my case, I was never late but they raised the rate on some cards from 8 or 9 percent to 12 and higher…with lower limits.
Many of my friends got hit up to the 29 percent mark.
And when you call, credit card companies give you lip service but no help really.
“You can just pay it off if you don’t like the new rates,” they say.
Nice.
Some with less usage or those who pay off their cards totally monthly didn’t get hit. However many good customers – millions – did.
Now a new scam is out there.
You get a call from Visa telling you how great your payment history has been and they want to lower your rates. Taking you down to as little as 0 to 6 percent a month.
The problem: It’s not Visa or Mastercard.
It’s a small boiler room in God knows where with no direct line – just an 800 number. Oh they will get your rates lowered alright…FOR A PRICE.
Usually anywhere from $1,000 dollars to $3,000 dollars.
The trick is they get all your card information from you, tell you they will see how low they can get your rate and that they’ll get back to you. In one day.
See, anyone can call and get a hardship rate. You don’t use the card anymore and pay it off over a few years. It doesn’t hurt your score, usually. But the card is dead. You could do it. You don’t need them.
They tried it on me a few months ago. I didn’t agree to anything but I wanted to see if I could get my rate down to a point or two as they promised and keep the card.
Dumb me. They tried to extract money from my account to pay THEMSELVES. They do this daily, and when cornered they fold up, move and start again.
In my case they got no money.
I called my bank and got in touch with its fraud department.
Yesterday I got a call about going after these guys. I said sure. After a brief conversation with the fraud guys….I told them I didn’t lose any money and suddenly they were no longer interested in me.
See they get 50% for recovering your stolen dough. ANOTHER SCAM.
Where does it end?
If you get one of these seemingly legit calls from a card company….call your card company and see what’s up.
If someone wants to lower your credit card interest they just do it, they don’t charge you to do it. I’ve spoken to tons of people who tell me they get these calls weekly from these jokers.
What will they think of next?
Ever get those emails…”Hey Craig I am in London, just got robbed, send me a couple thousand til I get home and I’ll pay you back..here is where to wire money”….they even have a name you know. Damn.
I think it’s all that Confederate Flags problem.
This is news? I never pay any interest on my credit card debt. I have three cards, all with 25k plus credit lines. Two, I keep empty. Then I use the third one and bounce the credit balance to the other right before the 0% interest expires. Then I pay 0% on THAT card for 12-18 months, then bounce it to the third card, etc…. In short, I always have next to nothing in interest. Sometime there is a balance transfer fee, but it’s always WAY less than what the interest rate would be if I didn’t move it. You just have to know how to play the game.
Business owner, exotic car collector, hollywood honcho, book author, most eligible bachlor. Credit card interest issues?
HATERS LIKE YOU ARE MY BIGGEST FANS…BRO MY THROW AWAY GIRLS ARE BETTER THAN ANYTHING YOU EVER WENT OUT WITH…CHEW ON THAT TUBS.
Try this:
Step 1- Get one credit card with a high credit limit that charges no annual fee and pays you cash back on all purchases.
Step 2- Live within your means so you can pay off your balance at the end of the month.
Voila! It’s like magic. Their interest rate becomes irrelevant and they send me a check. I’ve been doing this most of my adult life and it works every single time!
Jesus Monarch, you make sense and have a logical train of thought.
Glayzer ain’t got no time for that crap.
The scammer gets scammed. Isn’t it ironic?
Don’t you think?
I see what you did there.
OH BROTHER. I tell you NO I didn’t get scamed, they zero. Like most people I have several credit cards means GOOD CREDIT, still they try this on anyone who has a card with any interest over 8%, most people do…yet a couple haters as always try and make me out to be the dumb bell. I DIDN’T LOSE ANYTHING…this was a warning not about ME.
Yeah sure, it was a, a friend it happened to.
Yeah, a friend. NOT ME.
LULZ.
Never spend more than you make.
Very simple.
So the fraud guys found out that no fraud had been perpetrated and they suddenly lost interest? Lost interest in THE KING OF STING? THE FUCKING KING OF STING?
Having several credit cards does not patently equal good credit. This fruit is hanging really low people. Swing away!
“So I used her to her distract the guy at Hertz while he was doing my paperwork. Lucky they aren’t used to Kansas IDs so he didn’t notice the expiration. And dumb me, I’d upgraded to a nicer vehicle, but he didn’t tell me there was a $1,000 credit card hold on the upgrade. Thanks.
So when I checked into my hotel and they wanted to add more money to my card for extras that put my card over the limit. My other cards were in the car in my wallet, which had been valet parked, so I had to get that back. Another wasted half hour.”
Yep how it works
CG – providing schadenfreude for all the haters until football pics this Fall. Seriously though please pay off those credit card balances. You r flushing $ down the toilet every month.
I’m glad you didn’t get scammed out of any money. Always stay skeptical! I feel bad for those good people who do get duped.
Thanks Dela. I was thinking some readers would contribute stories about how they get emails from all over the place saying “I just inherited millions and if you send me x amount you will get to share it..” type tales but instead the hate brigade arrives as usual to come with anything they can think of to take away from the fact that these things go on daily and do work on many unsuspecting folks. I’m sure many readers have had those ‘calls’ to see if they can help. Right. That’s all.
That’s because you’re such a douchebag.
As Skeptic says, “low-hanging fruit.”
Hearne has tried to get me to write more about my ‘sex’ life with photos of some pretty darn funny and interesting tales. I would but it’d be the usual 50 plus comments on what a jerk I am instead of fun adventures. Too bad. Not any other writer opens up like I do about such often misadventures. We all have funny things happen to us but are afraid to share, ‘less you be judged’
All I can say to the above is, “EWWW”!
+11111111111111111to Infinity
I had to bleach my eyeballs after reading that. They were that sullied.
HATERS ARE MY BIGGEST FANS. THANKS.
did the pilot get picked up, Lol. Just like ole Caitlyn Jenner maybe you can self identify as a hollywood star and it will be so!
HAHAHAHA!!!
Nice.
pilot being edited now, should be ready to go out in a week or two then we will see…of course will keep you all posted one way or other.
I don’t know if this qualifies me as a “hater”, but I find it amusing to hear a 60 (?) year old man talk about “throw away girls” and generally sound like he’s still in high school.
Craig, when are you going to give up on the girls and start dating women?
He is like the perpetual Uncle Rico, always stuck in 1982 or whatever year he wants to reminisce about.
Again WTF what in this article has anything to do with 1982? For that matter what in comments has to do with 1982? Dude you just can’t stand that the reason you don’t dig me is I am that unique guy who lived it ALL still does to a certain extent and the fact I look good enough to compete with guys way younger and win is well unequaled … yes a reason to hate I get it…but hey you have this to look forward to instead of putt putt gold if you stay in the game. I did, you can too…there you go. Again nobody beats the clock that includes me, but I’ve stretched it out further than most thought possible, even me.
You go Uncle Rico Gramps!! Throw that football over that mountain!
WELL its not up to me my friend, its up to them…as long as I can still throw the long ball, look good doing it, I’m still game for the 20 somethings and 30 somethings for sure…I know its unique but someone has to be…I understand that men over say 40 see this as a WTF. But like I’ve said before its nice to have a rep. like me still getting it done. Hey even Brett and Tom get older or did…but its cool to see middle aged guys compete at that level…simple as that.
come on man ain’t that cool!
“Scribe Battles Rip Off Artists”
– CG, thought this was gonna be another expose on why those rip-off artists the Chiefs (Sisyphus) keep trying (failing) take that football up the Championship mountain, only to watch it come tumbling down the wrong side again & again, year aft decade aft two nigh on a second quarter century “ain’t got the horses” come into view.
Nod Hannum [though Barnum receives attribution] “there’s a sucker (600,000) born every minute” (season), KC. Or, if prefer Eddie Cantor – if “another season is another reason for making whoopee”, let the Swiss-Chiefs 8-8 bashing begin! It’s about time… KCindy Royals turn running aground the rocky shores ’30 years since’ appending soon.
🙂
I always love your stuff K, even if we don’t agree, but we usually do…as for the Chiefs/Chumps… this is kinda a make it or break it year for Andy in KC….needs playoffs and at least one win in the post…can they do it? I have to look at preseaon which does matter to know…right now I’m on the fence.