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AFAIK, this actually started many months back with cc companies and banks raising rates of all customers, good or bad. As of the spring, i had a very high credit card balance, still mainly due to my SS build, lol. but once i reviewed the rates and saw what was going on, i took steps to stop what i could. I managed to get the card payed off and now dont have to worry about finance charges. I saved thousands that way AND brought my credit score even higher. Credit cards can be very bad and dangerous to all income classes of people, and im thankful i got out quick.
Now i just buy stuff with my debit card, much safer, lol, and the only time i will use a credit card is if it is one of my store cards and the promotion rate is 0%, but even then, i sent up automatic payments to avoid missing just one or being late with a payment, and then getting nailed hard with finance charges.
I'll even be refinancing my car loan next month to save money. I checked with USAA and my credit score earns me their lowest possible rates so why not lower my monthly payments 20-30 bucks i figure.
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