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Subject:  Re: a silly question re: 0% cards Date:  7/8/2007  1:02 PM
Author:  xraymd Number:  255363 of 312239

now what? i guess it's silly - but i'm afraid to call the banks and ask about the terms for fear they'll realize they never should have given me such great deals and hike my rates to India-level heights. or that they will notice the rates should have been changed 3 months ago and they will do it now and if i hadn't called they wouldn't have noticed and i would have sailed along under their radar. good grief, when i type that i see how wacky it is.

nonetheless, i just can't shake those thoughts. something similar happened to me once when i was trying to battle the high interest rates i had pre-filing and pre-divorce: i called mbna to ask for a lower rate and ended up with a lower credit limit and a referral to debt-free america or some such wacky consolidation/kickback company.

Greetings, BklynBorn, I have to say that your fears are not actually wacky. MBNA, for instance, was NOTORIOUS for finding a way to thwack their cardholders who carried a balance and they were famous for pulling dirty tricks such as they pulled on you. So before you take any further steps, do the following:

1) Check your statements to see if there is any hint of what your current rate *is* - has it already gone up from 0%?

2) Let us know who the creditors are here and maybe posters with experience can come along to better advise

3) Do you have an escape plan in the event that your interest rates suddenly surge? Are you willing to give an idea of actual dollar amounts still owed - or at least of percentage credit limit utilized? That might help posters here to assess your chances of the likelihood of opening sufficient new credit to be able to do a balance transfer when the walls start closing in. Alternatively, could you take out a personal consolidation loan from your bank or credit union? Clearly not so ideal, but if your interest rates took an upward hike, could you aggressively snowball to the point where you become a ferocious extreme debt repayment warrior (a nod to xtn) and get brutal on your debt?

By the way, no apologies ever needed for the shortage of upper case. In truth, I feel that an apology is actually owed to you and that is the last word I will say about this here. Your writing is fresh, funny and a lift to read IN ANY CASE, with WHATEVER CASE, so please keep on posting and don't look back!

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