Comments on: Have Your Credit Card Rates Gone Up? http://www.askmrcreditcard.com/creditcardblog/have-your-credit-card-rates-gone-up/ Latest Credit Card News, Reviews and Information Thu, 20 Nov 2008 09:34:24 +0000 http://wordpress.org/?v=2.6.3 By: Mary M http://www.askmrcreditcard.com/creditcardblog/have-your-credit-card-rates-gone-up/#comment-75977 Mary M Thu, 10 Jul 2008 17:14:32 +0000 http://askmrcreditcard.com/creditcardblog/have-your-credit-card-rates-gone-up/#comment-75977 My Discover card rate recently jumped from 13.9 to 20.9%, with a letter stating the reasons as "account open for over 12 months, APR less than 20% and acct not used monthly." How outrageous is that? I haven't been late, much less missed a single payment ever, thank you. For ANY card. I thought I was a model customer! They have me because I have too high a balance to transfer. I have found Bank of America to be the best. That one did go over the limit one month (still, never late or missed) and they raised it for 6 months, and to my great surprise it reverted to the original 9.9% at the end without my having to call. I thought that would be a battle, the way Discover and Citi work. My Discover card rate recently jumped from 13.9 to 20.9%, with a letter stating the reasons as “account open for over 12 months, APR less than 20% and acct not used monthly.” How outrageous is that? I haven’t been late, much less missed a single payment ever, thank you. For ANY card. I thought I was a model customer! They have me because I have too high a balance to transfer.

I have found Bank of America to be the best. That one did go over the limit one month (still, never late or missed) and they raised it for 6 months, and to my great surprise it reverted to the original 9.9% at the end without my having to call. I thought that would be a battle, the way Discover and Citi work.

]]> By: Michelle Horning http://www.askmrcreditcard.com/creditcardblog/have-your-credit-card-rates-gone-up/#comment-55007 Michelle Horning Sun, 17 Feb 2008 23:14:11 +0000 http://askmrcreditcard.com/creditcardblog/have-your-credit-card-rates-gone-up/#comment-55007 I have been a Capitol One card holder for several years. In fact, at one time I had 3 Capitol One cards. My credit rating is 718. My score is not higher due to high credit balances on a number of cards. I have NEVER made a late payment. The default rates are so rediculous, one has to be diligent about due dates. Capitol One raised my FIXED RATE card I had for several years from 9.9% fixed to 21.9% variable. It doubled my payment. I called and talked with them and they said it was due to my high credit balances for all cards totalled, not just theirs. I cancelled one Capitol One card. I moved the 21.9 variable balance to another non-Cap One card. The last Capitol One card I am ususally able to pay off month to month. This practice is so wrong, expecially when one has been a consumer with Capitol One for 4 or 5 years. I have been a Capitol One card holder for several years. In fact, at one time I had 3 Capitol One cards. My credit rating is 718. My score is not higher due to high credit balances on a number of cards. I have NEVER made a late payment. The default rates are so rediculous, one has to be diligent about due dates. Capitol One raised my FIXED RATE card I had for several years from 9.9% fixed to 21.9% variable. It doubled my payment. I called and talked with them and they said it was due to my high credit balances for all cards totalled, not just theirs. I cancelled one Capitol One card. I moved the 21.9 variable balance to another non-Cap One card. The last Capitol One card I am ususally able to pay off month to month. This practice is so wrong, expecially when one has been a consumer with Capitol One for 4 or 5 years.

]]> By: Nacho Coordinator http://www.askmrcreditcard.com/creditcardblog/have-your-credit-card-rates-gone-up/#comment-54526 Nacho Coordinator Fri, 15 Feb 2008 14:00:07 +0000 http://askmrcreditcard.com/creditcardblog/have-your-credit-card-rates-gone-up/#comment-54526 Capital One and Amex Blue have raised my rates from 9% to 17% and 21% respectively. Ironically, my cash advance APR for Capital One is still at 9%. Bank of America has not touched my rate which has been at 7.9% since I got the card about 18 months ago. My FICO is 788 and I've never made a late payment on either card. Personally, I don't really care about the APR since I no longer carry balances. Capital One and Amex Blue have raised my rates from 9% to 17% and 21% respectively. Ironically, my cash advance APR for Capital One is still at 9%. Bank of America has not touched my rate which has been at 7.9% since I got the card about 18 months ago.

My FICO is 788 and I’ve never made a late payment on either card. Personally, I don’t really care about the APR since I no longer carry balances.

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