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Increased Interest Rate

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:roll: Have a relative that has a CHASE card and they got notification that if they do not respond within a certain time, they will increase their interest due to something in their CR. :twisted: I know how they operate, this rel. has good credit. I am tempted to say close and pay at the old rate; but someone said sometimes this is not a good idea. Any advice :?:
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First call them up to see if a customer service rep with reconsider the matter right immediatley.

Had to do this once already on DH's account with Citi Bank... well we are at it again... just last month they sent out another threat to increase and keep it that way if the account is not closed.

You don't want to unnessasarily close the account... long established history is a prime contributer to the credit report. If you can save it be all means do so.

If the call to customer service don't do it... then write in using www.planetfeedback.com

If you still can't get it down... then pay what you can on the account, even balance transfer what you can and wait a few months to try again with customer service to reduce the interest rate.

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