Cross Country Bank sucked me in when my (at the time) husband and I were just starting our family. His credit was awful and mine had a few blemishes and we desparately wanted a credit card for emergencies.
By the time I filed for divorce, he had charged up several hundred dollars in clothes and cologne for him and the card was in my name. Even though I was able to produce the receipts in court where the purchases were his and only his, the judge (and I found out later the judge was an old family friend of my ex's family) ordered me responsible for the credit card debt and he responsible for all medical bills.
I called CCB immediately and told them my situation and that my income had decreased to less than $10,000/year and that I was now a single mom. I asked them to please close the account and freeze it so that no other charges could accumulate and that I would continue to make monthly payments until the account was paid off. Of course, they didn't do that.
Here we are three years later and my balance is $2197.31 and counting. They will not stop adding on and since after the first year it was over $1000.00 and counting I figured that maybe I could come out ahead if I just stopped paying anything at all and let it go on my credit. I could get it over with and maybe a few years later settle with them for the actual amount I owe and everybody would be happy. The only problem with that is.....They've never stopped adding on charges and every single month I get more bad reports (yes, plural reports) added onto my credit report. And, now they've acted like they are trying to work out a settlement for $500.00 now and $1500.00 in three monthly payments. If I had this kind of money, don't they think I would've paid them already?!
Yes, they know what they are doing to me. And, because no one will take them down, they will continue. Please, be aware that if you have one of these cards, you need to pay it off as soon as possible and be very adament with them about closing your account -permanently. They'll never stop until they've ruined your credit for life and driven you completely crazy. It's not worth it.