Advice from people living without credit cards?

Ok, lovely BofA was going to raise my APR from a fixed 7.9 to double that, on both of my credit cards. I chose to opt out, leaving the balance on both cards at 7.9 APR. I have one other credit card, Chase, which I decided to ';rely'; upon. However, today I received a letter saying that Chase was going to raise my APR to double as well, and same choice to opt out, and not use the card. So.. that leaves me with no credit card usage. I have great credit, and both banks said the raise of APR was from the economic situation. I am kinda freaking out a little bit, because I have used credit cards for the past 16 years, and now I am not going to have any to rely upon. Any advice or anyone else experiencing the same issues I am having?Advice from people living without credit cards?
This is going on nationwide... the people that pay their bills are getting screwed because of the people that dont.





Thank Obama for that one....








Find a low APR card with balance x-fer capability, and x-fer the balances to it.. and tell Bank of A to shove their cards....Advice from people living without credit cards?
try going to the bank or credit union you use. they would also know your credit history and maybe give you a good APR. I thought Obama made it a law NOT to raise APR to help us poor people. Good luck.
I would just close the accounts and pay them off.
I don't understand. Are you carrying balances? If so, you're probably better of closing the accounts and paying them off. If you don't carry a balance, your APR is irrelevant. I have a card but never use it, so it's there if I need it but the APR could be 200% for all I care.





You say you've ';used'; credit cards for 16 years, does that mean you've carried a balance for 16 years??? If so, has this balance increased or stayed about the same? If it's stayed about the same, good news, you don't need to be spending money on those credit cards. If your balance stays constantly about the same, say $2000, that just means you're running a constant $2000 deficit. Cut back on spending and use some discipline and you can reset that set point to a $0 deficit!