Sunday, February 15, 2009

We want to Chase the Cheetah

Kathryne had a great post on her blog about
http://kathrynesthoughts.blogspot.com/2009/02/credit-card-first-not-car.html

Tonight I also sent an email to Dave Ramsey (our financial mentor) about the same thing. He was talking about this a lot last week on his show.
Here are some links I found about the story of what Chase is doing:
http://www.msnbc.msn.com/id/29099482/
http://www.ledgerdelaware.com/articles/2009/02/09/news/doc49905449860ef355591420.txt
http://www.consumeraffairs.com/news04/2009/02/chase_class_action.html
http://www.usatoday.com/money/perfi/credit/2009-02-08-chase-interest-rates-fee_N.htm

Here's the text of the message I sent. I wonder if he'll read it on air...

I heard you talking about Chase's slimy actions regarding their credit card fees and interest rates. Our last item on our snowball is our Chase credit card of about 16000. We're currently working on saving up to pay on or van fleece of about 14000. Next paycheck we would be able to pay off our van but given our disgust with Chase, we've decided to pay them off instead. We're not even sure if we're in the group that would be affected but are doing this on principal. We also have our primary checking and savings account with them and will be looking to move those away shortly. I know we're breaking the "rules" of the debt snowball by not paying off the smallest first but you always say that this is about behavior and their behavior has been atrocious. I hope you'll forgive us this minor deviation.
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