SOB, one of my CCs just gave themselves a bonus.

[Demon-Xanth]

So I was checking to make sure a payment went through, and a CC I use to pay bills with (always pay off every month) suddenly had a jump in the interest rate from a pretty good 7.9 to a shitastic 14.99, which ties my first CC for the worst interest rate I've ever had. Checked my credit with the government mandated free credit report a little while ago, there was no fraud on there so that's not the cause.


...f-you Citibank! Time to start checking CC offers when they come in the mail again.


...oh, and Citibank... NO JET FOR YOU!

 

[TallBill]

Don't carry a balance

/ATOT elitist

 

[Hoober]

Same thing happened to my wife. We canceled the account.

 

[vshah]

why does it matter if you always pay it off like you say....

 

[Turin39789]

Originally posted by: TallBill
Don't carry a balance

/Adult

 

[Demon-Xanth]

Originally posted by: TallBill
Don't carry a balance

/ATOT elitist

My current balence is -$3.

Originally posted by: vshah
why does it matter if you always pay it off like you say....

Because if I ever do need to use it for credit (ie: emergency) I don't want to take it up the poop chute.

 

[spidey07]

Didn't read the card member agreement? "We can change your rate at anytime, for any reason."

 

[TallBill]

Originally posted by: Demon-Xanth

Originally posted by: TallBill
Don't carry a balance

/ATOT elitist

My current balence is -$3.

Originally posted by: vshah
why does it matter if you always pay it off like you say....

Because if I ever do need to use it for credit (ie: emergency) I don't want to take it up the poop chute.

Have an emergency money market fund.

 

[TallBill]

Call the CC company and inquire?

 

[FelixDeCat]

Originally posted by: Demon-Xanth
7.9 to a shitastic 14.99

Sounds like change you can believe in. They have to pay back all that tarp money you know.

 

[Newbian]

Oh didn't you get the screw you mail notice they sent?

 

[joesmoke]

Originally posted by: Newbian
Oh didn't you get the screw you mail notice they sent?

i got it. "dear valued customer, thank you for choosing us for your credit needs. due to these hard economic times we are forced to sodomize you. we look forward to your business in the future."

 

[zoiks]

Same thing here. They increased my APR to 29.99%!! They sent an 'accept our terms or quit' letter.

 

[*kjm]

Same for me and my wife...... my score is 825 hers 815 and we went from 6.8 to 29.99! I'm 42 and have carried the card from 17! 25yrs of loyalty dont mean squat
I'm out!

 

[mugs]

Why do you even care about your rate when you say you pay off your balance every month?

 

[MikeyIs4Dcats]

Chase was kind enough to add a $10/mo service fee to my account just because I have a low APR balance transfer balance. Also boosted the minimum payment from 2 to 5%.

 

[bobsmith1492]

Too many bankruptcies... they have to eke out the excess elsewhere.

 

[darkxshade]

Originally posted by: Demon-Xanth

Originally posted by: TallBill
Don't carry a balance

/ATOT elitist

My current balence is -$3.

Originally posted by: vshah
why does it matter if you always pay it off like you say....

Because if I ever do need to use it for credit (ie: emergency) I don't want to take it up the poop chute.

In all seriousness, if you've reached a point where you have to use a CC in that fashion, your interest rates will probably be that high already if not higher.

 

[*kjm]

Originally posted by: mugs
Why do you even care about your rate when you say you pay off your balance every month?

Principle...... A 25yr customer should not be handled like that!

 

[erub]

APRs are weird..who even knows what they are? I pay in full.

 

[necine]

I just paid off all but one for this very reason.

 

[Mungla]

I received the lovely letter from Citi about six months ago. They increased my APY from 7.99% to 18.99%. The reason stated in the letter for the increase is due to the prime rate increasing - which most obviously isn't accurate. I called them up and went off on a rep. He promptly stated that "there is nothing he can do." I haven't used the card since. To hell with Citi. I'll stick with my Bank's CC with 8.99% APY.

 

[Special K]

Originally posted by: darkxshade

Originally posted by: Demon-Xanth

Originally posted by: TallBill
Don't carry a balance

/ATOT elitist

My current balence is -$3.

Originally posted by: vshah
why does it matter if you always pay it off like you say....

Because if I ever do need to use it for credit (ie: emergency) I don't want to take it up the poop chute.

In all seriousness, if you've reached a point where you have to use a CC in that fashion, your interest rates will probably be that high already if not higher.

Good point.

 

[Demon-Xanth]

Originally posted by: darkxshade

Originally posted by: Demon-Xanth

Originally posted by: TallBill
Don't carry a balance

/ATOT elitist

My current balence is -$3.

Originally posted by: vshah
why does it matter if you always pay it off like you say....

Because if I ever do need to use it for credit (ie: emergency) I don't want to take it up the poop chute.

In all seriousness, if you've reached a point where you have to use a CC in that fashion, your interest rates will probably be that high already if not higher.

I was referring to something such as if I needed a new transmission, I could use the CC to carry a balance for a few months. At which point, that 7% difference can add up to a few hundred bucks easily.

 

[SmoochyTX]

Originally posted by: Demon-Xanth

Originally posted by: darkxshade

Originally posted by: Demon-Xanth

Originally posted by: TallBill
Don't carry a balance

/ATOT elitist

My current balence is -$3.

Originally posted by: vshah
why does it matter if you always pay it off like you say....

Because if I ever do need to use it for credit (ie: emergency) I don't want to take it up the poop chute.

In all seriousness, if you've reached a point where you have to use a CC in that fashion, your interest rates will probably be that high already if not higher.

I was referring to something such as if I needed a new transmission, I could use the CC to carry a balance for a few months. At which point, that 7% difference can add up to a few hundred bucks easily.

Obligatory that's why you have an emergency fund of at least $1000 built up on top of 3-4 months of living expenses.

ETA - But yeah, that sucks.