D K wrote:
Frog Britches wrote:

I swore off Loan Shark Credit Cards.
I tried to use the points on my GM card two years ago on a car
purchase. They couldn't/wouldn't honor them.
I paid off the balance but didn't cancel it or the other cards because
I was told it would hurt my FICA score tremendously.
GM was upset of whatever that I wouldn't use their card and cut my
credit line all the way down to 300.00. That hurt my credit score.
So I'm canceling the whole lot tomorrow. It doesn't seem to matter.
The Credit Card Companies write the contract, and enforce the contract
and change any terms or conditions whenever they fee like it. It is a
unilateral contract. You can't even sue or complain about them. You
have to choose an arbitrator from their list and pay for it.
Just how is all of this legal?

Something is missing from this story. It just doesn't work that way.
They wouldn't cut your credit line to $300 for not using their card.
Your credit history has some bad marks on it.
No it doesn't. I don't know if my wife kept the letter or not but it
said something to the effect of due to inactivity on the account.