Anyone getting their APR jacked up?

[The_Dude 1,142]

This reminded me to check all my cards. Unfortunately, I had a auto-payment on a card that I never use and got a late fee paying the card. So they went fromm 8.99% on my Discover to 29.99%. #######, one late payment and you jack it up that bad? I called and asked them about it they said it was because of the late payment, so I said I want to close the account. First lady said "sure, we can do that but would you like to keep the account, we can offer you 23.99%". Ummm no, I have 3 other cards with substantially lower rates. So I get transferred to yet another call center where they continue to offer me 19.99% if I stay. Two more transfers and I get someone who will actually close my account for me. I get to the last check, when they offer me 3.9% FFS, this sh!t is annoying.

[HAL 9000 96]

hmmm...no notice but citi just raised my credit limit a few weeks ago

Yeah they actually did too... a month ago. For all I care (if I just take all the balance out) they can continue increasing my line of credit. If they act like primadonnas on the phone I'll have my 1.99% transfer rate at Discover ready to go. I can get them to waive the transfer fee.

[Heracles 417]

I was going to thank Obama for the Credit Cardholder's Bill of Rights Act of 2009 but the new law doesn't take effect until Feb. 22, 2010. I suppose the banks are trying to stick it to the more reliable customers earlier to pay for the the people who are more heavily in debt.

I recall that bill. A Republican decided to slip in the gun amendment allowing people to carry guns in National Parks. After all this is clearly important to Americans. Morons

One guess who voted on it to take so long to be implemented. Aka looking out for their buds. Hint: not dems.

[Heracles 417]

This reminded me to check all my cards. Unfortunately, I had a auto-payment on a card that I never use and got a late fee paying the card. So they went fromm 8.99% on my Discover to 29.99%. #######, one late payment and you jack it up that bad? I called and asked them about it they said it was because of the late payment, so I said I want to close the account. First lady said "sure, we can do that but would you like to keep the account, we can offer you 23.99%". Ummm no, I have 3 other cards with substantially lower rates. So I get transferred to yet another call center where they continue to offer me 19.99% if I stay. Two more transfers and I get someone who will actually close my account for me. I get to the last check, when they offer me 3.9% FFS, this sh!t is annoying.

Lack of regulation is just so great is it not. Chase just decided to decrease my credit line by 82%. While HSBC and E*Trade have decided to increase my interest rates to 19.99% for no reason.

The only cards left with a great rate is my Navy Federal CU at 7.9% and Citi at 6.75%. The rest range from 13.99 to 15.99.

Edited October 20, 2009 by Booyah!

[The_Dude 1,142]

This reminded me to check all my cards. Unfortunately, I had a auto-payment on a card that I never use and got a late fee paying the card. So they went fromm 8.99% on my Discover to 29.99%. #######, one late payment and you jack it up that bad? I called and asked them about it they said it was because of the late payment, so I said I want to close the account. First lady said "sure, we can do that but would you like to keep the account, we can offer you 23.99%". Ummm no, I have 3 other cards with substantially lower rates. So I get transferred to yet another call center where they continue to offer me 19.99% if I stay. Two more transfers and I get someone who will actually close my account for me. I get to the last check, when they offer me 3.9% FFS, this sh!t is annoying.

Lack of regulation is just so great is it not. Chase just decided to decrease my credit line by 82%. While HSBC and E*Trade have decided to increase my interest rates to 19.99% for no reason.

The only cards left with a great rate is my Navy Federal CU at 7.9% and Citi at 6.75%. The rest range from 13.99 to 15.99.

Credit unions can be great, especially the military ones.

[perfect 39]

Thankfully we've never carried a huge amount of credot card debt and have always paid more than the minimum amount each month, but even so - AMEX reduced our credit line by $500, then when I asked to have it back again temporarily to buy flights online (which you can't do with cash) they refused!

Sears also reduced our credit amount by $500.

All of our credit card companies, although we now carry a zero balance and have always paid on time and more than the minimum amount, have raised our interest rates to the mid 20%'s. When I phoned and asked why they basically said because they can - and if we stop using them altogether they will yank them completely!

So my goal is to use them for small purchases each month and pay in full so the balances are always zero.

To me - it's just predatory lending under another name!

[Jasman0717 9]

Wow, 29% is crazy. I didn't like how Citi handled my credit account so I transferred the balance to another credit card company that guarenteed my interest at 8% until the balance was paid and closed the Citi account so Citi lost out for being so greedy.

[HAL 9000 96]

Wow, 29% is crazy. I didn't like how Citi handled my credit account so I transferred the balance to another credit card company that guarenteed my interest at 8% until the balance was paid and closed the Citi account so Citi lost out for being so greedy.

How did they handle it if you don't mind sharing?

In the letter they 'justify' it as a sign of the times- and yet they put a box in the letter stating how a timely payment of at least the minimum (duh) get a 10% credit of the charged APR. It seems like they're seriously testing something. I'm leaving soon for home but first I get to go pick up my security deposit from my previous rental. Guess what that check's going to cover regardless if they play ball with me?

[w¡n9Nµ7 §£@¥€r 123]

I recently stopped using my Citi card. I was a day late (1 day!!) and they started rejecting transactions. They had never done that before and I am frequently 1 day late (laziness).

So now I do all my stuff on a Schwab Visa. 2% cash back on everything, no limits no exceptions.

[HAL 9000 96]

Yeah... I get 2% on my Discover (more at some online merchants). Too bad the 5% gas rebate is going down to 2% at the end of the month. Citi really seems to want to lose people's business.

[Heracles 417]

I did incur a $39 late fee yesterday for paying 1 minute late on a card.

I tried to build credit when I first got here and now I have too many cards. Then I was told I better use them otherwise they will cancel them.

[Niels Bohr 72]

I remembered back in the college days, I was always worried that I'd spend 100 dollars in a week. And, I wasn't making much money working at Best Buy. When I goto the mall, I'd spend credit.

Now, I give my wife 500 dollars every two weeks to spend at the mall. Makes her happy. Why the heck to woman love shopping? Doesn't matter which country they come from.

[w¡n9Nµ7 §£@¥€r 123]

Why the heck to woman love shopping? Doesn't matter which country they come from.

God is evil.

[Heracles 417]

I remembered back in the college days, I was always worried that I'd spend 100 dollars in a week. And, I wasn't making much money working at Best Buy. When I goto the mall, I'd spend credit.

Now, I give my wife 500 dollars every two weeks to spend at the mall. Makes her happy. Why the heck to woman love shopping? Doesn't matter which country they come from.

Can I marry you?

Why the heck to woman love shopping? Doesn't matter which country they come from.

God is evil.

If he is white, he's definitely evil in the A.J book.

Edited October 21, 2009 by Booyah!

[aidan80 9]

Looks like its time to call them and give them the balance transfer ultimatum. And keep the account open just to remind them if they don't want to keep my APR where it is (Citibank).

They want to play greedy, they will lose any interest on whatever balance I keep with them.

Same thing happened to me twice both shot up to 29.99%! That's what I get for always paying on time and more than the minimum.. luckily for me I've very little balance left and I'm paying off the rest. I've read online that the good customers you know the customers that always pay on time and never have late fees are going to be hit with an annual fee next! Time I cut up all but the oldest plastic.

Funny you mention CitiBank I was asked to apply for one of their cards and thought why not.. I got rejected! I applied for a car loan with my credit union and got approved? The banks are in a mess.. a good dose of end of year/Christmas bonus' for the CEO's will help them find new ways to hammer their customers for more cash in 2010.

Edited October 21, 2009 by aidan80