Re: Credit Limit Reductions - AMX, MBNA

Posted by Terrass604 (12.19.97.166) on March 21, 2003 at 11:34:19:

In Reply to: Re: Credit Limit Reductions - AMX, MBNA posted by angie on March 21, 2003 at 11:07:10:

Thanks for sharing the experience. When I started to use credit years ago, it was based on a direct lender to borrower relationship. If I had an account with Fred's hardware store, and I always paid Fred as agreed, Fred was happy. If I defaulted with Bob's auto repair, Fred might get concerned. Now there are no Freds or Bobs, only computer generated credit scores to determine your value. It matters little if you pay everyone as agreed or not and contracted agreements mean nothing to these mouse-driven bean counters. To add insult to injury, they beg you to increase your debt and utilize your available credit and then penalize you if you do. I am going back to cash only with the exception of fixed term loans as the credit card industry has shown me they are nothing but liars and crooks.

Follow Ups:

Post a Followup