Ever feel like you're locked in a room with no way out -- unless you break the window?
BLOOMINGDALE, ILLINOIS -- Well, it appears that treadmills are not just for hampsters! I filed bankrupt in 2004 because of a really bad employment situation. In 2006 I was forced into early retirement to care for my ailing mom after a spotty work record between 2004-2006 [please know all that the Big 5-0 does have a tragic effect on one's otherwise gainful employment possibilities].
I never lost sight of my goal to turn my credit around because prior to my employment misfortune, I had excellent credit. Well, I started turning my credit around immediately and I won. The downside is I have no clothes and no pocket money and a car in need of many repairs. I needed things for mom's and my new apartment in November 2007 and while shopping in a Kmart store was lured into a long line to open a credit card account. Gee, I was approved for a Sears Kmart Solutions Mastercard! Trouble is now 4 years into this credit card relationship, I am more than tired of paying an APR of 29.99%. This is a credit card account on which I have never been late paying. The average interest paid at year end is approximately $720 and the highest balance I have had is just under $2,500. The balance comes down so slow that you cannot see it move, literally. I make minimum payments due of $80 and only $20 of that amount applies to the balance.
I have written HSBC about this whom I believe is a victim of entirely too much of Sears' interference/influence (everybody knows you have to do it the "Sears" way if you want their business). I was told by HSBC that there was nothing they could do about my APR right now. So when?! It's been 4 years of on-time payments. HSBC is not bad at all; I have an HSBC Best Buy Reward Zone Mastercard and our relationship is superior... so it has to be Sears.
Trouble here is I have a PepBoys credit card issued by GE Money, and they must have gotten wind of my Sears 29.99% APR and are APR shadowing. Three years ago, they decided to charge the same APR up from 23%. So, I unhappily closed the account in December 2010 after a 4-year relationship. Just recently, I happened to notice that GE has reopened the account without advice to me! They are showing credit available. I have to wonder if that is because GE sees something coming and does not want to drop the 29.99% APR! In any event, this is bad faith and underminding. I closed the Sears account also in 2010 because they would not support me in a merchant dispute, but the 29.99% APR remains!
Every month, I pray to become a rambo. All I need is "enough" to stop paying both these giants, apply grease paint beneath my eyes, and let them take me to court on judgments. I think I would be better off letting a "judge" decide if enough has been snatched out of my pocketbook. If I cannot achieve rambo status, this otherwise will be too intimidating of an attempt for me... and the giants already know it and are waiting for my next move.