As I’ve previously mentioned, I love my Wamu card. I guess I should say loved. They canceled my card! I received a letter in the mail the other day telling me that since I hadn’t used the card in over a year that they were canceling it. I was fuming! Not only did I enjoy the benefits of the card, but now it’s going to hit my credit report as a closed account and make it go down!  I am not a happy camper. I have had this card open for five or six years.  I’ve always paid on time, I had a $15,000 limit, and I loved having a card that was as flexible as Wamu.  I couldn’t believe that they would close a customer’s card without asking them first if they intended on using it.  If they had sent me a letter that said that they noticed I hadn’t used it in awhile and asked me if I would like to keep it open, I would feel a lot better about this.  I am just so mad that [...]

Awhile back, I sang the praises of my Providian/ Wamu credit card. I loved that credit card because it tracked my FICO score for free for me.  That was pretty much the only other reason I kept that card, besides the fact that I’ve had it the longest out of any of the cards that I have open now.  Since Wamu went under, I am wondering what’s going to happen to my credit card. I’m hoping that Chase will take it over and leave me with my FICO score tracking.  I figure that will happen, or I’ll be transferred over to a Chase credit card and get some of the benefits they offer.  The other day a customer was telling me about all the benefits they receive from their Chase card, and they actually sound like they have really good credit cards. I figure if they drop my FICO score tracking or I don’t like the rewards/terms and conditions, then I’ll just cancel the card.  I have one credit card that I mainly use for purchasing gas since we get [...]

It never ceases to amaze me how much credit card debt some people have. I was reading something the other day that said that 58 percent of Americans say that they rely on credit as a way of making ends meet. As high of a percentage as that is, I was a little surprised that it wasn’t higher. With the rising cost of gas and food prices, I anticipate it will be raised by the end of this year. Last year, our nation’s collective credit-card debt was $937 billion, having nearly quadrupled in fewer than 20 years. If our nation continues to spend at the same rate, how is anyone going to afford to live? Quadrupling in 20 years is embarrassing. What are people charging? Things they probably don’t need: new furniture, vacations, new electronics, etc. I think credit cards can be so tempting and I sometimes have to hold back from spending when I know I’ve got my credit card. I feel like if I don’t have to record it like I do in my checkbook, then it’s not [...]