Early Retirement & Financial Independence Community - View Single Post - Universal Default Credit Card Rates.....Again!!

Martha · 09-26-2006, 01:06 PM

FinanceDude, I am sorry about your sister. If interest has accrued on her accounts, I would ask the credit card companies to forgive it. I have seen them do this when someone dies.

I see no good reason for the cross default provisions that are becoming quite common--where if you are behind on one card, another credit card company can charge you higher interest even if you timely pay them. I see it as punitive only. It may even increase the likelihood of tipping the person over so they can't pay any of the debt.

09-26-2006, 01:06 PM	#14
Martha Moderator Emeritus Join Date: Feb 2004 Location: minnesota Posts: 11,726	FinanceDude, I am sorry about your sister. If interest has accrued on her accounts, I would ask the credit card companies to forgive it. I have seen them do this when someone dies. I see no good reason for the cross default provisions that are becoming quite common--where if you are behind on one card, another credit card company can charge you higher interest even if you timely pay them. I see it as punitive only. It may even increase the likelihood of tipping the person over so they can't pay any of the debt. __________________ . Do not rely on the information provided--my posts are not to be taken as legal advice. Needless to say you must consult with your legal representative. I am not responsible for errors. If I offended you with cya I apologize. If I did not, I tried.