Credit Tips: Raised Credit Card Rates

Posted On: February 1, 2006

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Posted: Thu Jan 13, 2005 5:33 pm
Post subject: Raised Credit Card Rates

Tim
Date: 3/19/2000 0:09 am CDT

MBNA America last month raised our credit card interest from
12.9% to almost
23% for no apparent reason. We have been paying and have
never been late
with a payment. Is this legal? What can we do to get our
12.9 rate back
again? Thank you.

archive
Posted: Thu Jan 13, 2005 5:33 pm
Post subject: Raised Credit Card Rates

marie
Date: 3/25/2000 7:36 am CDT

The same thing happened to my husband in January. I believe they said he was late on another credit card account and that the terms of his card said he couldn’t be late on “any” accounts. He argued we had never been late (although later remembered while on vacation having to make an MBNA e-payment because I had accidently put the payment in with my travel papers and forgot to mail it. We missed the due date, but as the card waived the late charge he didn’t think it would be reported to anyone else - oops!)and finally they agreed to keep him at the lower rate. My advice is to call and complain, complain, complain to customer service.