Comments on: Wachovia the Latest to Fall http://financefreelancelife.com/2008/09/30/wachovia-the-latest-to-fall/ Sat, 20 Mar 2010 15:34:03 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Wachovia Update Roundup http://financefreelancelife.com/2008/09/30/wachovia-the-latest-to-fall/#comment-27350 Wachovia Update Roundup Sun, 05 Oct 2008 15:30:54 +0000 http://financefreelancelife.com/?p=1064#comment-27350 [...] Fargo with great interest. When I wrote about Wachovia on Tuesday, it seemed like a sure thing that Citi was taking over. But since Wells Fargo offered 7x more, it makes sense that Wachovia would prefer [...] [...] Fargo with great interest. When I wrote about Wachovia on Tuesday, it seemed like a sure thing that Citi was taking over. But since Wells Fargo offered 7x more, it makes sense that Wachovia would prefer [...]

]]> By: The Friday gathering - Updates and cell phones http://financefreelancelife.com/2008/09/30/wachovia-the-latest-to-fall/#comment-27109 The Friday gathering - Updates and cell phones Fri, 03 Oct 2008 10:53:13 +0000 http://financefreelancelife.com/?p=1064#comment-27109 [...] Wachovia the Latest to Fall. Another one bites the dust. I’m a Wachovia customer and sure hate to see this happen. [...] [...] Wachovia the Latest to Fall. Another one bites the dust. I’m a Wachovia customer and sure hate to see this happen. [...]

]]> By: Dan Ray http://financefreelancelife.com/2008/09/30/wachovia-the-latest-to-fall/#comment-26977 Dan Ray Wed, 01 Oct 2008 16:34:37 +0000 http://financefreelancelife.com/?p=1064#comment-26977 Hi, Mrs. Micah. Dan Ray here, from over at Taking Charge / CreditCards.com. Do you have a Wachovia credit card? I have Connie Prater, one of our reporters, doing a roundup of what all the changes mean to credit cardholders, and I'd be interested if you, or any holder of a Wachovia credit card see any changes in the terms/conditions imposed by Citi. E-mail to conniepatcreditcards.com, please. Hi, Mrs. Micah. Dan Ray here, from over at Taking Charge / CreditCards.com. Do you have a Wachovia credit card? I have Connie Prater, one of our reporters, doing a roundup of what all the changes mean to credit cardholders, and I’d be interested if you, or any holder of a Wachovia credit card see any changes in the terms/conditions imposed by Citi. E-mail to conniepatcreditcards.com, please.

]]> By: Dad http://financefreelancelife.com/2008/09/30/wachovia-the-latest-to-fall/#comment-26911 Dad Wed, 01 Oct 2008 00:36:53 +0000 http://financefreelancelife.com/?p=1064#comment-26911 This is off topic but it takes off from the reference to people paying their credit cards before their mortgage. As you and Gather Little by LIttle say this is a bad idea. Over on that site, I read the secrets Credit Card companies don't want you to know. I noticed that one was missing. Since the comments are closed over there, I'm commenting here. Gather suggests paying online rather than by US Mail and I agree. It is also suggested that you be careful to copy the payment address carefully. Actually, you shouldn't be copying it all all. Most companies include a payment return slip and an envelope. Big companies like credit card companies have fancy equipment to process payments. If you use the slip and provided envelope, it processes more quickly. By regulation, if you use your own envelope or do not return the slip or you include anything else in the envelope, they are allowed to take longer in processing the payment. Otherwise there are legal limits on how long they can take in processing a payment. Overall, I think the best option is the credit card company's web site since the payment is done quickly. On topic, I agree with you this is not the time to be moving much. As long as you're in an FDIC insured bank and don't have large balances ($100,000+) or the equivalent if you are in another country, you should be safe. If you are not in this safety bounds, you probably should move to a position of safety by moving excess funds to another FDIC insured bank. This is off topic but it takes off from the reference to people paying their credit cards before their mortgage. As you and Gather Little by LIttle say this is a bad idea.

Over on that site, I read the secrets Credit Card companies don’t want you to know. I noticed that one was missing. Since the comments are closed over there, I’m commenting here.

Gather suggests paying online rather than by US Mail and I agree. It is also suggested that you be careful to copy the payment address carefully. Actually, you shouldn’t be copying it all all. Most companies include a payment return slip and an envelope. Big companies like credit card companies have fancy equipment to process payments. If you use the slip and provided envelope, it processes more quickly. By regulation, if you use your own envelope or do not return the slip or you include anything else in the envelope, they are allowed to take longer in processing the payment. Otherwise there are legal limits on how long they can take in processing a payment. Overall, I think the best option is the credit card company’s web site since the payment is done quickly.

On topic, I agree with you this is not the time to be moving much. As long as you’re in an FDIC insured bank and don’t have large balances ($100,000+) or the equivalent if you are in another country, you should be safe. If you are not in this safety bounds, you probably should move to a position of safety by moving excess funds to another FDIC insured bank.

]]> By: Laura http://financefreelancelife.com/2008/09/30/wachovia-the-latest-to-fall/#comment-26897 Laura Tue, 30 Sep 2008 20:39:30 +0000 http://financefreelancelife.com/?p=1064#comment-26897 We're on 'wait and see' mode too. If the customer service is good enough, we'll stay. I just don't want to go back to Bank of America. We’re on ‘wait and see’ mode too. If the customer service is good enough, we’ll stay. I just don’t want to go back to Bank of America.

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