When credit cards don’t play fair.
We can raise your credit card APR just because we can! Sure does seem that way, despite who they want to blame it on. Fellow blogger Rhitter94 over at Planet Debt Free found this out yet again this morning. For her, it was the third time in 15 months that this has happened with one of her credit cards. As aggravated as this understandably made her feel, I commend her attitude… “It just strengthens my resolve to work harder about paying off my debt.” And she is right. Push me and I’ll push back even harder!
While there are a lot of things we can’t control in life, when it comes to paying off debt, our attitude is the one thing we can control. Yes things like rising interest rates make me angry too. But like Rhitter94, I simply refuse to let them defeat me. When the war I have waged against debt is over, I am determined to be the last one standing! Does it mean it might take me a little longer to win this war? Perhaps. But I will win this one!
People can do amazing things when they are angered, scared, pushed or backed into a corner. When I read Rhitter94’s post this morning, the increase in her credit card’s APR felt like a personal attack on my own battlefield. It could have just as well been me receiving this news. The threat when dealing with these snakes (aka credit cards) is still very viable. Until they are beat to a pulp, they remain a very dangerous enemy. It is also why we do need to stand firm in our resolve to work even harder at ridding ourselves of our debts. Remain strong and don’t let them beat you!
While it is certainly true that no one forced me to sign on the dotted line of my own debt, I have since learned that these creditors are not my friend. Nor do they always play fair. They are the ones who make up and change the rules whenever they want. I no longer like those kinds of games! Playing with them isn’t fun anymore and it is time to part ways. With Rhitter94’s post, I now consider myself pushed yet again…and I will continue to push back even harder!
Has anyone else received news of an increased APR? What are YOU going to do to push back even harder?
I just have to keep at the snowball and work harder. I will too.
Keep on pushing, Kim! I can’ t wait until we both declare that we have won our battles!
It’s a double edged sword. When The Feds raise their interest rates, while it will give us more money in our savings accounts (rising interest rates) it also raises the interest rates on debt, such as mortgages and credit cards. Your best bet is to get a zero based credit card and apply and then use that credit to pay off the debt with the higher interest. At least you’ll get 18 to 21 months interest free. You have to hurry though. As The Feds raise the rates, zero-interest loans will start to become fewer and far between.
I feel your pain.
I’ve got my own worries too!
I think God makes it extra special hard to pay off debt as to make sure we learn our lessons well.
Peace & hugs!!!
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Thanks Cindi! Like you said, it is truly a double edged sword. We’ve been looking into those zero interest credit cards but they are getting harder and harder to find. This is a hard lesson and one I know we will never forget. The race is on to rid ourselves of this debt! Always appreciate your wise words of encouragement.
Makes me glad I don’t have credit card debt anymore.
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I am so happy for you and can’t wait to share that status! It will happen!