I have an Emerge card with a balance of $795".70 and can only pay the minimum payment of $25/.00 per month?. They are charging me 35!.99% interest and since I can only pay the minimum per month, I am only paying $1'.30 of the balance and the rest($23?.70) going toward just the interest;. How many years will it take to pay off my remaining balance?If my calculator is correct, it will take 51 years to pay this bill?. I am 53 years old now, so you do the math....I'll never pay this off completely. What are people like me going to do about this kind of ripoff. 128ca6a
 Comments (2) |
| 1. Written by Robert on July 23, 2009 from brick, new jersey, US Emerge is legal loansharking! I sent the following complaint to the FTC and the Nebraska Consumer Affair Department. I have always paid my credit card account on time. There was one instance that my payment arrived a day late due to the Bank changing their payment address(It was in NJ). I called immediately and they removed the late fee charges. However, I recently realized that my interest rate was increased to 29.99%. I called and spoke to a number of people, the names I do not have due to horrible pronunciation or made up names. They said the only way they would reduce my interest rate was to cancel the account and then they would give me my old, not so great rate.19.99% (approx). I was furious! Does this make any sense? I said to them it is highway robbery, extortion, and loansharking to charge someone who has never been late on a payment, who has except for a handful of times in 10 years or so, has paid more than the minimum due, and has never even come close to 20% of my credit limit. I understand that President Obama has approved a credit card consumer rights bill which has been signed into law, however he has given these credit card issuers a license to steal, until it becomes enacted. When I questioned them on the "30%" they kept saying, oh sir, it's not 30% it's 29.99%. Do these people think I'm (and everyone else) a moron? What's the difference between the 2...... .01% One one hundredth of a percentage point? Please see if something can be done, I understand there are many, MANY, consumers that are being extorted. One more thing, their online payment system charges a $5.00 fee for payment processing. Which I believe the consumer rights bill will eliminate. Payment processing with a paper check has no charge. This is also excessive, however, they do not add this charge to your online payment, they add it to your credit card balance, so they can make 30% (excuse me 29.99%) on a payment fee. This Credit card issuer is a thief! But a legal thief?????? OK, I'm done ranting. Please help! |
| 2. Written by Tom on May 29, 2009 from seattle, washington, US Emerge credit card is slavery. |
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