Comments on: Beware Credit Card Rate Jackings (Increases)

By: Ra Fi

Ra Fi — Thu, 19 Nov 2009 15:25:39 +0000

I have discovered that my interest rate has gone up on two of my cards. 29.99% is to high! What can I do to fight this evil blood sucking attack on my accounts. I am beging to hate HSBC and Chase. Who do I report them too?

By: Eva

Eva — Thu, 19 Nov 2009 04:18:58 +0000

I just got my mail and opened up my envelope from citibank informing me that my at&t universal card (on which I have never been late, carry a balance, and have paid off several years in the last 7 years) was being raised from 7.9 to 11.9 percent. I immediatly called and opted out. Screw them..I don’t even care that it will probably mess up my credit…

By: Hibo

Hibo — Mon, 12 Oct 2009 07:18:33 +0000

I’ve noticed everyone on here talking about Chase and BofA…well, I just got a notice in the mail yesterday about my credit card rate being jacked up to 17.3% from 11.65% from Wells Fargo. This happens to be really bad for me because I am a full-time student and I got my hours severely cut at work (to the point where I don’t even work some months), which only allows me to make minimum payments ($25) on my credit card. Now, I’m not blaming anyone for the balance that I have, but I am pissed off that I now have to pay more. I don’t understand why the rates are being increased and I don’t want to close the account because I don’t want to ruin my credit. I’m just afraid I won’t be able to keep up my payments and pay my credit card off

By: L.B.

L.B. — Mon, 31 Aug 2009 23:02:11 +0000

sorry, thought i should clarify the previous post–my minimum payment was 2% of the balance, now it is 5%. the balance on the Chase Visa was actually a “life of the loan” balance transfer, which galls me even more. “life of the loan” means nothing, apparently.

clearly illegal under the laws that will go into effect Feb2010, but they don’t care if anyone notices, i guess.

By: L.B.

L.B. — Mon, 31 Aug 2009 22:43:22 +0000

i have ever missed a payment, nor have i only paid the minimum, even if it’s only $10 over. a few months ago my Chase Visa offered me a “payment free month” because i was such a wonderful customer.
so my Chase Visa just raised my minimum from 2% to 5%, and never informed me in writing. they say i can pay the 5%, accept a higher APR and get it back to 2% (but with a higher APR)until 2011 when it will jump to prime+10.99, or close the card and go to their collections dept, who will let me pay it off at a fixed rate for 5 yrs but will close the card and tank my credit score.
they also said i had the option of hiring an attorney to fight them, how nice.
my combined FICO score is currently 723.
advice?

By: Rick Cadden

Rick Cadden — Sun, 30 Aug 2009 00:27:54 +0000

Chase hit the hardest and i m quitting them. No late payments, credit score in high 600, been with them since 99 and they jacked my visa rate from 11.99 to 19.49. I aid it off and will never use them again!

By: Karen

Karen — Wed, 26 Aug 2009 03:31:59 +0000

Add American Express Blue to the list of ratejackers. No late payments for me, and no other explanation than “our pricing has to be responsive to the business and economic environment”. What I get for their response to the economic environment is a new “variable” rate that basically takes me up to a 15% APR. And to boot, I’ve been a “member” since 1982 with no late payments that I can recall in all of that time. I hate the hit my credit score will take for closing the account, but they’ve finally crossed the line on this one.

By: Dave

Dave — Wed, 26 Aug 2009 02:29:26 +0000

Chase and Bank of America can burn in HELL for their money grab of Tarp funds and then screwing their customers with jacked up interest rates. Screw them all.

By: Darlene Morrison

Darlene Morrison — Sun, 23 Aug 2009 20:58:16 +0000

My husband and I have had the interest rate raised on both of our Capital One cards. We both had a fixed rate which was changed to a variable rate and increased on the existing balance. They said we were notified, but I don’t recall seeing anything about it or I would have cancelled both cards. This has doubled to tripled our interest rate and we have never missed a payment or been late since the cards were opened. Is there anything we can do?

By: tammy

tammy — Sat, 22 Aug 2009 04:42:40 +0000

hello capital one just jacked my rates nearly doubling them — they said they sent me a notice but i never received it — how convenient — the person i spoke to said he is receiving thousands of calls from angry customers whose rates were jacked — isn’t there something that can be done about this??? it is outrageous that they are allowed to do this without reason.

thanks

taz