Sorry sir, due to the excessive charge offs on your credit you have been denied a loan for the RV. Decades of paying early or on time means nothing anymore, amount of charge offs, 1, amount, $54.00... were we notified of this charge off… no... Amount of points reduced on Ronda’s FICO.. 110… will they accept a $54.00 payment… no… you can’t make this stuff up folks.
Ronda and I both had Amex cards and 1 Chase VISA, we paid the revolving ones on time and the Gold Amex business card we paid off monthly. Great right? Well during the credit card fiasco a few years back both Amex and Chase lowered our limits and raised our rates even though we were customer(s) in “excellent standing”.
I wrote about this before and I know they didn’t use this tactic on everybody but they certainly used it on us. If this is how they treat customers in “excellent standing” how do they treat those who are late?? Chase would lower our limit to below what we owe causing us to be in “default” which legally allowed them to keep our “new” rate of 30.99% while Amex just plain changed the terms of service, raised the rates and refused to talk to us about it because them there's the breaks folks. Chase would tell us to be “good” for 6 months and they would lower the rate, we played this game until 1 year & 2 months ago, we got sick of it and closed all but one card.
The new law that was supposed to protect us (they didn’t read this one before passing it either, what a shocker ‘eh folks?) gave credit card companies new ways to stick it to consumers. The snide condescending attitudes we got from these companies is appalling.
Anyway, American Express, after we were down to $796.00 to go, decided a fee of $54.00 needed to be charged off. This frees us from paying the $54.00 fee right? Sure, but since they never told us or mailed us that they did it we didn’t find out until we went to buy the Dutch Star. Ronda ran our FICO’s just last week and combined we had a FICO of 730. We would off course prefer to pay what we owe or heck at least be given the option for frack sakes since this is OUR credit they are messing with but they have to thank us for not doing business with them some how, right?
Neither Ronda or I have ever been late on a payment, we have never missed a payment, our credit history is perfect… does this matter? Hell No, these days you need to NOT make payments to get loans, then they have “programs” backed by the Government to “help you” but those of you doing the right thing, stupid silly people you/us.
My FICO is 728, oh, you want to buy an RV? Come back with a 780!! Well shit fire and save the damn matches if it’s 780 why did they tell us this shouldn’t be a problem!? We knew we weren’t at 780 for &$%#@ sakes! They knew we weren’t at 780!! American Express charges off a fee and her FICO drops to a 622! 110 points for this ONE charge off!
Why did American Express do the charge off? Because 1 year and 2 months ago we closed all of our credit card accounts except for one. Now the tactic is when the debt is almost paid off they charge it off as a thank you for not doing business with them anymore knowing what it will do to your FICO. Is this illegal? Of course not! They are HELPING you by charging it off so why are you whining? Seriously, we’re supposed to be HAPPY they did this?!
This is the best damn country on earth, we work damn hard to live the American Dream and let me tell you being an immigrant doesn’t make it easier. But the assholes running our Government that allows the assholes running credit card companies to write rules that screw customers is disgusting. They all sit there on their collective smug asses telling us they passed a law protecting the consumer when they did anything but. During re-election they can smile and tell us they did though so stop whining and vote them back in!
So where does that leave people who pay all of their bills on time? It leaves THEM paying for the people who are getting Government backed loans to help them with their mortgages and other things they stopped paying for. I am so pissed off I can’t tell you. Am I a cold bastard because I said this? Is it true? Do I care if people think I’m a cold bastard at this point, heck no, if more people took responsibility we wouldn’t be living in an entitlement society like we are. Too many people are out there hands out waiting for somebody to give them their due when they are fully capable of getting off their lazy damned ass and doing for themselves. They believe we exist to make their lives easier, the American Dream isn’t freebies, its busting your ass, period.
I believe there are people who need help and they should get help. I also know there are organizations there to provide this help and charities as well. The Government does one thing well, TAX, they don’t do a single other thing well so we vote them in to spend ever more and more money because they believe we can’t make it without them, heck we have a President telling us we can’t make it without him and we give him a standing O! I digress, Obama didn’t cause this, he, like the Presidents before him perpetuate it. He does however fully support keeping the people NEEDING the Government, something I am fully against but of course by now you know this.
Now after reading this you may think, hey, if your credit is so perfect why is your FICO “only” a 728, or is it 718, not sure but doesn’t matter. It’s because we closed all of our credit cards, so red flags go off and your FICO flushes through the toilet and it takes time to build it back up when you close credit card accounts. A’hole companies charging off debt/fees or whatever will KILL your score and they know this and I bet the person behind the keyboard was having a blast while doing it, I think they may have even cackled! Maybe there was a cauldron and at night they all get together chanting for another day of screwing their customers… wow I can actually picture that…
Where all this leads is we will not be able to buy the RV because of one $54.00 charge off that some number cruncher(s) can’t see past. To these unseen number cruncher(s) this couple who for decades has paid everything on time, is unworthy of a loan to purchase an RV even though we currently have an RV and the payment difference between the two is $100.00. I mean seriously, it’s not like we’re looking at a new Allegro Bus or Prevost!
The funny thing is, had we kept our credit cards open we would be in worse financial shape but could easily get the loan for the RV. That cracks me up…how screwed up is that? I need to go to the bathroom now to throw up and remind myself that Ronda and I are doing the right thing by paying for a house that has plummeted $120,000 in value, paying off credit cards run by crooks at the top making millions to make sure we stay in debt to our eyeballs. Makes you think I want to join the OWS movement right? Hell no, I may not like how credit companies are run but it was Government mental midgets that passed the laws that allow this rampant corruption to take place and I hold them first and foremost responsible.
On that note we take responsibility for our debt, but when they raise the rate to 30.99% and have rules that insure you can almost never pay it down who's fault is that? Want to know why so many people walk away and stop paying? Do the math folks. No matter what, we will continue to do what's right, even if the companies we’re paying don’t. I can go to bed at night knowing we are doing it right.
In 4 years we will have our credit card debt paid off. We have a list of companies that we will never do business with again because of how they treated us. They are already trying to get us back into their grasp by sending pre-approved credit cards, not gonna happen. Chase just lost over 2 billion dollars, while I have friends that work for that slime ball company I smiled when I saw that news, I smiled real good, couldn’t have happened to a better company, karma is a bitch ‘eh Chase?
Vent over… I need coffee… We’ll keep the Endeavor for now, continue to pay off debt and when the time comes, it will be us that determines who will loan us the money and we will not be trying the companies that turned us down for this rig, no how no way. I keep a credit score for them as well.
I’ll post again soon, but for now I need to cool off… a lot….