Credit Card Interest Rate Changes
archive
Posted: Thu Aug 12, 2004 2:07 pm
Post subject: Credit Card Interest Rate Changes
Bob T
Date: 6/25/2001 7:42 pm CDT
I had a card with 12.9 % interest. I've always had high balances but am never late with my payment.Mbna changed my rate to 22.9%.I gave up a card I had for awhile for this company now they do this.They hounded me to change to there company.Is there anything that can be done about companies like this.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
archive
Posted: Thu Aug 12, 2004 2:08 pm
Post subject: Credit Card Interest Rate Changes
Ed Mason
Date: 6/25/2001 8:01 pm CDT
Bob,
A couple of questions?
1. Did they send you a letter in regards to the rate change and giving you the opportunity to reject it. They are supposed to do so..
2. Did you call the toll free Number on the back of your credit card and ask the representitive why it went up?
Even though you said that you were not late on your MBNA card, have you been late on any other credit cards.. Have you taken on any additional debt since you received your MBNA card.. Every month Credit Card Companies have the opportunity to check your credit report and if they see something that may indicate a risk to them in regards to how you are handling other credit , or how much debt. ect. also any delinquency may make them consider you a risk, and that is why they may have raised your credit apr.. But as I said the only way that you can find out for sure is to give them a call.. Good luck
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Thu Aug 12, 2004 2:07 pm
Post subject: Credit Card Interest Rate Changes
Bob T
Date: 6/25/2001 7:42 pm CDT
I had a card with 12.9 % interest. I've always had high balances but am never late with my payment.Mbna changed my rate to 22.9%.I gave up a card I had for awhile for this company now they do this.They hounded me to change to there company.Is there anything that can be done about companies like this.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
archive
Posted: Thu Aug 12, 2004 2:08 pm
Post subject: Credit Card Interest Rate Changes
Ed Mason
Date: 6/25/2001 8:01 pm CDT
Bob,
A couple of questions?
1. Did they send you a letter in regards to the rate change and giving you the opportunity to reject it. They are supposed to do so..
2. Did you call the toll free Number on the back of your credit card and ask the representitive why it went up?
Even though you said that you were not late on your MBNA card, have you been late on any other credit cards.. Have you taken on any additional debt since you received your MBNA card.. Every month Credit Card Companies have the opportunity to check your credit report and if they see something that may indicate a risk to them in regards to how you are handling other credit , or how much debt. ect. also any delinquency may make them consider you a risk, and that is why they may have raised your credit apr.. But as I said the only way that you can find out for sure is to give them a call.. Good luck
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 12:05 PM
0 Comments:
Post a Comment
<< Home