Those of you with low "fixed rate" credit cards - pay attention to your bills!

[Writer]

I just looked at our credit card account online. We have a low APR card, at 7.99%, that is now listed at 14.99%! I called the credit card company, and they said that they have "repriced" many of their accounts, and that our rate rose because of this.

We have an option of rejecting the terms, hence letting our card cancel on its expiration date, or we can "renegotiate" a rate in between our old and new rates.

UN-F'IN'-BELIEVABLE!!!

[tabatha]

1. Can't you cancel now?

[bluestateguy]

2. They did this to my uncle

He hadn't made a late payment in 10 years, yet they jacked up his APR.

He then cancelled the card.

[LaurenG]

3. Let it cancel and demand the 7.99%

Bank of America did this to us and I now consider them loan sharks.

[Writer]

6. That's what we're doing...

we have a few years after that, thank goodness.

They will drop back down to 7.99%.

[dixiegrrrrl]

4. My local bank issued card has not been reaised in over 10 years.

It's a VISA.
My Citibank card, which used to be a VISA and is now Mastercard, jacked the rate up
unaanounced several tiems.
I don't carry balances on either, and only use Citi a few times a year.

Hooray for my bank Visa tho...never ever had a problem with them.

[sarge43]

5. Contract?! We don't need no stinkin' contract. n/t

[SmileyRose]

7. It's going around

"Consumers are tired and scared; they are at the end of their tether. Not only have they lost confidence in our financial institutions and government, but they also have lost confidence in themselves to improve their situation. That is truly disheartening and portentous to a nation trying to revive itself." http://www.newcreditrules.com/

[seabeyond]

8. hm.... thanks for the heads up. will look at mine. n/t

[patriotvoice]

9. Yep, still at 16.99% Of course, I've paid $0 fees and interest charges...

because I treat it like a charge card, not revolving credit. On the day prior to the due date, after earning maximum interest on my money elsewhere, I transfer enough to pay off the card to zero. I get extra days of interest, and they get none.

Fuck them!

On edit: Grammar.