Comments on: Can Your Credit Card Company Change Your Interest Rate? http://www.askmrcreditcard.com/creditcardblog/can-your-credit-card-company-change-your-interest-rate/ Latest Credit Card News, Reviews and Information Thu, 09 Feb 2012 07:48:57 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Jayne http://www.askmrcreditcard.com/creditcardblog/can-your-credit-card-company-change-your-interest-rate/comment-page-1/#comment-134677 Jayne Wed, 06 Oct 2010 23:46:40 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=1374#comment-134677 I have a Citi Bank flex account. I have a balance of abt 4,000.00 I have paid my payments on time from 11,000 tht I started out with. Last month my paymet was late. They are raising my apr from 14.990 to 29.990. I called and they said there is nothing they can do because they no longer offer the flex line of business, and the computer made the change and that is that. Can they double the interest rate??? Thanks Jayne I have a Citi Bank flex account. I have a balance of abt 4,000.00 I have paid my payments on time from 11,000 tht I started out with. Last month my paymet was late. They are raising my apr from 14.990 to 29.990. I called and they said there is nothing they can do because they no longer offer the flex line of business, and the computer made the change and that is that. Can they double the interest rate??? Thanks Jayne

]]> By: Marisol http://www.askmrcreditcard.com/creditcardblog/can-your-credit-card-company-change-your-interest-rate/comment-page-1/#comment-121590 Marisol Tue, 05 Jan 2010 15:42:37 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=1374#comment-121590 Good Morning, I came across your site while researching information on the new laws, and I have a couple of questions for you. I have an Advanta Business Account in which carried a low interest rate balance till Nov. of 2009. They closed my account without notice back around June of 2009 and the representative told me that the rate will stay the same till I paid it off. I no longer have access to the card but continue to make timely payments. Now, in December, they increased my rate from 1.99 to 8.99. Is this legal, and is there something I can do about this? Secondly, I was reading that under the new laws, that payments in excess of the minimum amount due must be applied to the balance with the highest interest rate, except during the last two billing statements before a deferred interest balance is due, where excess payments must be applied to the deferred balance. Can you please explaing the exception part, I really dont understand that. Thanks Good Morning,

I came across your site while researching information on the new laws, and I have a couple of questions for you.

I have an Advanta Business Account in which carried a low interest rate balance till Nov. of 2009. They closed my account without notice back around June of 2009 and the representative told me that the rate will stay the same till I paid it off. I no longer have access to the card but continue to make timely payments. Now, in December, they increased my rate from 1.99 to 8.99. Is this legal, and is there something I can do about this?

Secondly, I was reading that under the new laws, that payments in excess of the minimum amount due must be applied to the balance with the highest interest rate, except during the last two billing statements before a deferred interest balance is due, where excess payments must be applied to the deferred balance. Can you please explaing the exception part, I really dont understand that.

Thanks

]]> By: Ellen http://www.askmrcreditcard.com/creditcardblog/can-your-credit-card-company-change-your-interest-rate/comment-page-1/#comment-88512 Ellen Tue, 04 Nov 2008 22:48:57 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=1374#comment-88512 My credit card company has sent out notices that it is canceling accounts (they are going under), but are notifying us that we are still obligated to pay the monthly maintenance fees on the account. Is this correct? I know that we are still obligated to the debt, but what about the monthly account maintenance fees(which are crap to begin with) on an account that we cant use anymore? What do you think? My credit card company has sent out notices that it is canceling accounts (they are going under), but are notifying us that we are still obligated to pay the monthly maintenance fees on the account. Is this correct? I know that we are still obligated to the debt, but what about the monthly account maintenance fees(which are crap to begin with) on an account that we cant use anymore? What do you think?

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