Credit Card Interest Rate Hike

Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Thu Jan 13, 2005 3:51 pm
Post subject: Beware! Traveler's Jacked Their Rates Up!

Katy Winslow
Date: 5/4/2000 12:35 am CDT

I just received my latest statement from Traveler's. My finance charge rate went from 9.9% fixed to 18.14%. I have never been late, I send more than the minimum each month so there is no legitimate reason for the increase. I called to see if there was an error. The service rep on the line immediately got snippy and said that the bank had increased the rates. I asked how they could do that with no notice and was told notices were sent out at the beginning of March. I got snippy back and said obviously I had not received any notice or I would have called much sooner. I asked that the information be faxed or mailed to me. The rep said I would receive it in approximately 7 working days. I will not be keeping this card.

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