Coach...do you have his Financial Peace software? If so, whats your opinion of that. Recently I have paid off a few of my credit cards. Doing it one at a time. Well, one of them was a Chase Rewards card. Originally it had a $4000 limit on it. This past Tuesday I paid off the entire balance of $3500 or so. Well, this weekend I went to check my rewards and see how close I was to getting a flight....lo and behold....they reduced my limit to $500. I FLIPPED OUT!!!! This whole new fucking credit card plan the government laid out doesnt allow the banks to look at your past payment history with them. So, with the debt to income ratio and the fact it takes a few months to update a credit report....they reduced it. I told them to fuck their card, fuck their bank, and fuck their points. I am pulling my money out of that bank and going to look at another bank. I used to be with BofA....but they are scum bags too.
Suggestions on good banks?
I had a business credit card. I had about 11k balance on it. With the next payout, I paid the entire balance off. As soon as i did, they sent me a letter saying my account was cancelled and thanks for the payment. I had it opened for about a year, and never missed a payment, and the balance never went over about 2k, except for that last month where i needed to buy a larger qty of materials. This was past december.
So i had to open a new one. I opened AmEx. They gave me $5,000, then reduced it to $1,500 before i even made a single purchase!
Either way, i don't owe shit on either, and these days unless customers pay me at least 50% in advance, i won't even take on the job. I can always hire/fire help as i please these days, so it doesn't bother me.
