? 
Credit card holders livid about ‘rate-jacking’ – CNN.com
December 17th, 2008 [Banking, Financial, General]
3 Comments »Credit card holders livid about ‘rate-jacking’ – CNN.com.
Count me in on that one. All of my credit card companies pulled that baloney of “We’re jacking up your interest by at least 10%, but of course you can opt out… if you NEVER USE YOUR CARD AGAIN!” But Citibank was the only one that actually required me to CLOSE my account if I didn’t wish to have a 20%+ rate (bearing in mind that my current rate is under 10%). It’s absolute bullshit.
You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
December 18th, 2008 at 4:38 am
I,too,checked my interest rates on my 2 credit cards. One under 12% up to 25% and the other one was 12% and is now 27.9%. I have never been late, always paid more than required and don’t use the cards any more and haven’t for some time but they jacked em up anyway. One tried to charge me for over the limit, a late fee and God only knows what else when I paid it by phone early and more than required and had at least 300 dollars available. I have fought with them as they wrote down the wrong bank number, even though I always pay this way, with the bank that carries the card and it should have been on record as the same account I have used for 3 years. My payments I make are always over 100 dollars but never seems to come down. I am paying this off with my tax return, remember every one of these companies that did this and never use them again for anything. I closed my house account and moved it to a savings and did the same with my new car, moved to a savings and loan. I am so done with banks as the biggest thieves out there. This will pass and people will remember how they acted after OUR bail out.
December 18th, 2008 at 5:39 am
I received that notice as well. I am tempted to close my account once I’ve paid off the balance.
December 18th, 2008 at 11:37 am
I have an excellent credit score, and I have been getting notices from all of my credit card issuers that they are raising the interest rate. I don’t understand…shouldn’t we be rewarded for paying our bills consistenly and on time? If the people who pay there bills are being punished, doesn’t that ruin their attempts to help the economy get back on its feet? I will be canceling all of my cards once they are paid off; unfortunately, it will take longer to pay them off now. Bastards. Aren’t they getting enough of our money through the bailout (Citibank)?