SYD Financial » interest rates

Trouble on the Horizon

admin — Thu, 05 Nov 2009 20:29:01 +0000

Credit-card lenders, facing higher defaults and new, profit-crimping laws, have been increasing fees and interest rates, raising minimum payments and cutting credit limits. Some Citigroup Inc. customers have seen their credit limits cut, their interest rates jump as high as 29.99% or their cards canceled altogether.

Last month, Bank of America, another large card issuer, said it is testing annual fees ranging from $29 to $99 on a small number of card holders, which may include some who pay their bills in full every month.

With the rest of the Credit Card Act of 2009 taking effect next February and more regulations to come, card holders are likely to continue being affected by rate and fee changes. “We’re not done yet,” says John Ulzheimer, president of consumer education at Credit.com.
Settle your Debt SYD style

Evil Empire known as Credit Card Companie

admin — Mon, 02 Nov 2009 22:10:05 +0000

Here are some ways that the credit card companies are now trying to earn more from us the consumer

Rate Hikes- There is no law that caps interest rates. With late payments and any other consumer infraction be prepared to see rates escalate.

New Fees- Looks like there will be application fees, inactivity fees, and other nuissance fees.

Higher Monthly Minimum Payments- the numnber was 2% of what was owed it will now be around the 5% figure, which will gauge the cardholders pocket.

Reward Points/Miles/ you will see many of these programs start to disappear over the next few months.

Credit Limits Slashed- Card Limits will be reduced dramatically.

Remember cardholders- you are not married to your creditor, Settle your Debt SYD style

are these banks crazy

admin — Fri, 30 Oct 2009 00:04:21 +0000

Prospec just received her monthly statement from Bank of America. Her interest rates are at prime+26.99%. Thats nuts. Lady SYD settle your debt

Greed- is it good?

admin — Mon, 26 Oct 2009 16:23:01 +0000

Greedy credit card companies are now charging hidden fees before the new laws take effect in February. Card cancellation fees and double minimum payments are what these banks are not doing to keep there revenue stream afloat. Banks are doing what they can now and the consumer is being taken advantage of. Clonsumers out there make things happen in your favor- settle your debt SYD Style

What a crime

admin — Sun, 25 Oct 2009 03:02:28 +0000

Interest rates on on the move. Do you want to pay more in interest than you were. Lets think about this- SYD Settle your Debt

Bank of America job well done!

admin — Wed, 07 Oct 2009 16:02:19 +0000

Looks like Bank of America is saying that they are not raising their interest rates on existing cardholders until next year. Now that is good judgement on their behalf. Wait a second 19%-29.99% is justifyable to the consumer. Good job BOA another job WELL DONE

THE WEEKEND MAIL

admin — Mon, 05 Oct 2009 01:41:10 +0000

How many of you have credit cards out there? How many of you have balances on them? How many of your cards are promotional rates and deferred interest? How many of you are making minimum payments on these cards? Well, how many of you have received letters stating your interest rate is increasing and if you don’t accept it your card gets locked for a year. If you have responded to these questions then I ask 1 more? How many of you think these banks are corrupt? End of story

Whats up with Bank Fees

admin — Thu, 01 Oct 2009 17:38:34 +0000

Hey Bloggers why are banks increasing their ATM fees? answer- greedy greedy greedy. Increased interest rates, increased ATM fees and no reason whatsoever. Banks are taking advantage of you the consumer to pad their pocket. Don’t feel bad negotiating your debt with them SYD is here to help you out

Here We Go Again

admin — Fri, 25 Sep 2009 20:21:34 +0000

Bernanke says consumer lending is necessary, his colleagues say raise interest rates. Here we go again. Which way do we go , which way do we go. If rates remain where they are, and inflation sets in, once again the FED will have waited too long once again. It seems as if no matter what is going on in our economy they are always 1, jeesh 3 steps behind.
So I say consumers worry about yourself, do what you think is right and forget the big guys out there. Your financial institutions really dont care about you— why should you care about them? Settle that credit card debt today!

Overdraft Fees

admin — Wed, 23 Sep 2009 19:10:07 +0000

How fitting is it that the banks now are dropping their overdraft fees in what we would call excessive and overwhelming to the client. Doesn’t matter what the fees were or will be, just note it was absurd that if you overdrew your account by $.01 they charged you roughly $35 bucks in fees. How absurd? Pity party for the financial institutions. What do they do to make up for that lost revenue- you guessed- it increase interest rates on credit cards. Well, we dont have to be a genius to think that if someone overdrew an account it could be 1 of 2 reasons 1. simple mistake 2. dont have money in their account (which then becomes a legal situation as you cant write a check if money isnt available) so, lets stay with scenario 2. These individuals obviously will not be able to afford their credit card and now with 10% higher rates, I say who cares about the bank. Do what’s in your best interest Mr./Mrs. client– SETTLE YOUR DEBT. Contact SYD today at 866 364-9161