so i got a "change in terms" notice from my bank, and surprise, surprise --

[unblock]

it's bad news.

no, WAIT! it's GOOD news!

ally bank (formerly gmac) is reducing or eliminating a bunch of charges and fees.

atm fees, limits on overdraft fees, free checking, free statements, and lower fees for international wires.



whaddya know, not all changes in terms are bad!

[Newsjock]

1. Yes, I got two the same day yesterday, and they weren't bad

They were mostly changes to comply with the CARD Act. The worst that happened was that one card raised the APR by a stinkin' 0.09% because of some technicality in how they compute the variable APR.

But my blood pressure rose when I saw the two envelopes in my mailbox: "Important Changes To Your Card Agreement." But I suspect that a lot of these letters are going out now.

[lonestarnot]

2. Until next month.

:hi:

[MercutioATC]

3. About 6 months ago Discover called to LOWER my rate by 5%.

I accepted.

[pipi_k]

4. They're not all bad, but not many of them make sense, even if they're good...

Like when I got a notice from one of my credit card companies saying that they had extended my grace period by five days...

even though I always pay within two days of receiving my bill.


Now, if I were having trouble paying on time, they would probably shorten the grace period by five days.


I'm sure it does make sense in some alternate universe, but in the real world, they would leave my terms alone and give the additional five days to someone who CAN'T always pay on time.


anyway, good news for you...enjoy!

:)