Business Credit Cards

[OLD PUP]

Has anyone received notice of hikes in interest rates, cash advances or the use of convienience checks. American Express- Advanta Bank- Citi-Bank or J.P.MorganChase. Also wondering about "Big Bank Credit Cards" ? They seem to be going crazy with the "Small-Business Owner". even though you have an excellent payment history ! No derogatories ! Any thought's or comments ?

 

[SkwerI]

I get those in the mail about 2-3 times per week from Capital One. They really want me to max out my credit line. There's two versions, a no-fee check that carries the same interest rate as my charges or the 'no interest' check with a 3% up front fee tacked on. Been getting the same damn envelopes every week for the last 2-3 years.

And since paying off both my Cap1 cards earlier this year and not carrying a balance forward on my business card, I no longer open any mail from Cap1. I pay online and they send me a comprehensive statement at the end of the year for tax purposes, so any mail from them goes straight in the garbage.

I don't get any other credit card solicitations since I opted out with the credit reporting agencies a couple years ago.

 

[Jonseredbred]

No credit cards here, I can't help.

 

[Bounce]

I just got a notice from my credit card company that they were going to extend my credit line from $3k to $10k. I read the fine print and if I had accepted it would meant a rate hike from 8% to 21%! I told them to bite me and cancelled the stupid card altogether.

 

[Jonseredbred]

I can beat that. I will loan you 10k at 20% and save you some $$$

 

[Mr. Sir]

I have lots of credit cards, but I pay off the entire balance every month, so I don't really pay attention to the interest rates. The only card that I carry a balance on is a Master Card at 3.5%. It actually has gone down 1% the last two months.

 

[Jonseredbred]

Hey Brett, heres the deal. You loan me 10k @4%. I keep the spread.

 

[Mr. Sir]

Make it 8% and you've got a deal! Just send me that Kenworth and lowboy as collateral.