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Cabelas card / credit line lowering/increase interest

1 TX, United States Review updated:

just checked my February statement to find that my new rate of interest is 27.99%... which I think is just completely AWESOME!!!

I guess my prior rate of 12.99% and an avg payment of $1500 a month just wasn't enough to fill the pockets of the spineless brainiacs that decided to make this well timed business decision.

This appears to be a game of debt, not money management... and in it, everyone loses... except those that run the banks and credit. If you have not noticed, banks have the biggest spread EVER. Savings rates are in the toilet and loan rates have gone relatively unchanged. EVERYTHING favors the banks and them getting their act in gear, they'd rather get more out of the deal instead.

It's sad to see that this is wide spread. What bothers me most is that this industry is arrogant enough to gamble on the future losing billions of dollars in the process, it cleans up the books with government (taxpayer) money and then to make the situation even worse, they attack the very people who did not borrow iresponsibly and are not a part of this mess. If I tried this I'd be in prison. I'd really like to have a meeting arranged where I can meet the ones responsible for all of this. I want them to tell me why they are not paying the price for this w/ their jobs, serious tax penalties for undeserved bonuses, liquidation of assets and mandatory community service (since they really don't understand what that's about).

Li
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Comments

Fi
  10th of Mar, 2009
0 Votes

I JUST HAD THE SAME PROBLEM! I THINK THEY CAN RAISE THE INTEREST RATE ONLY ON NEW PURCHASES, DON'T QUOTE ME ON THAT!

I ALSO RECEIVED A POSTCARD STATING THAT I WILL NOT EARN ANY MORE NON CABELAS PURCHASE POINTS AND MY DADS CARD STATED THAT HE WAS GOING TO EARN MORE POINTS THAN BEFORE?

I LOVE CABELAS, BUT I THINK I MIGHT HAVE TO MOVE TO THE BASS CARD INSTEAD. I WILL WAIT AND SEE HOW BAD IT REALLY GETS.

Cs
  1st of Apr, 2009
0 Votes

You interest rate is based on payment history and your credit bureau score, so maybe you should invesigate that information before you go off. Also, if you had a WAMU Cabela's Visa card your interest rate increased because the card changed hands and is no longer a Cabela's Visa card and is now a Chase Rewards card. Proper notification of that change were sent out and the new terms and conditions were send out also . SO instead of complaining maybe you should do a little investigating a make a phone call and find out WHY!

Li
  5th of Dec, 2011
0 Votes

No not complaining, I am so glad they did that and made me aware of there actions! Closed there card and have one card only. Cabelas lost my families business along time ago .

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