As some of you may know, I used a zero % credit card check to buy my sten, with the rate to remain constant until August of 2004. I just received a letter from them today with the new terms of service, which says if you don't cancel the card before Jan 26, 2004, all existing balances and new purchases will be subject to the new rate of prime plus 20.99%, currently 24.99%. If I choose to cancel, I can pay off my current balance at my existing rate, up until August of 2004.

The beautiful thing is, I've been a good boy credit wise, with one card paid off last month and another this month, so I'll be able to cancel the zero % card and have a one year loan interest free since I'll be able to pay it off or transfer whatever balance remains before then. I've also sold off a few guns I wasn't using, and didn't lose a dime on a single one. I actually profited and improved my collection at the same time. Woe betide to those who don't read the small print though...that could prove disastrous. I can see some class action suits coming out of this.

So, to those of you who aren't financially responsible, beware, the bill is coming due.

discover did the same thing to me. in the fine print it said to cancel the card i had to send a written notice to them. they wouldn't accept the cacelation over the phone. kind of pissed me off, luckily that was at tax return time so i was able to pay off the card and get rid of it. i'm finally credit card debt free, and to keep it that way i canceled all of those bastards!! i have a debit card i can use now in place of a credit card. will never have another credit card again. too easy for me to max them out.