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August 19, 2009



Ah, good catch Bronxilla

Bronxilla Da Bronx

If it took me five years to get off the phone, I'd be pissed too.


In the same vein, JPM sent me a change notice for my 2 credit cards, where I maintain no balance. Historically, any balance would have a fixed rate of 7.25%, but under the cover of the government changes to the credit card industry, they want to go to a prime + margin arrangement. My FICO score is in the high 700's, so I checked on what the margin will be starting in November. 18.99% (plus 3.25%)for an all-in 22.24%!!!I can only imagine how these type of rates will PUMMEL anyone with a balance or lower credit score. Likely to trigger another tidal wave of defaults and no doubt,a plea for more TARP money!!


Sounds like you need the help of Bus Uncle


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