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  1. #1
    Prince of Content Vinny O'Hare's Avatar
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    January 18th, 2005
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    3,126
    Keep an eye On your credit cards
    There seems to be a push towards the way the credit card companies compute your interest on balances you carry over. They are starting to use a compound your DAILY balance and this adds up to a lot more money if you carry a balance.

    I charged $55 on my Macy's card and when I got the statement it said $55 but when I logged in to pay it was $57. Needless to say if you are carrying any significant balance you are going to be for a rude awakening. Chase has also switched to this new way of calculating your interest.

    You are better off borrowing from the Mafia (if there was such a thing).
    Vinny O'Hare - OPM - Contact Info email: vinny at teamloxly.com ~ 702-582-6742 Twitter

  2. #2
    Tax Paying Member
    Join Date
    November 14th, 2005
    Location
    Chapel Hill, NC
    Posts
    2,119
    Am paying off my Chase cards. Have some work for the sissors.

    They even took over my BP gas card. No more BP for my gas guzzler.

    No more business with Chase Bank.
    You must climb this mountain. There is no elevator. ---- Don't stick your finger in the liquid nitrogen.
    Carolina China

  3. #3
    Prince of Content Vinny O'Hare's Avatar
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    January 18th, 2005
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    3,126
    If you look at your Macys statement they now use what is called Balnce method B - read the fine terms on the back of the statement. Then call your congressman and complain.
    Vinny O'Hare - OPM - Contact Info email: vinny at teamloxly.com ~ 702-582-6742 Twitter

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