wahoo238 Posted March 22, 2007 Report Share Posted March 22, 2007 Hi All, kind of an odd situation wondering what the experts think. Yesterday my Wife received a letter from Houshold (CC account) stateing a change in Terms of Service Agreement, anyway interest rate adjusted from 18 to 32%apr, this decision was based on info from EQ. It also gave a number to call to get the exact reason for their dessision. Tonight she called Houshold and they told her that Eq had requested they raise her apr, whats the deal? I thought that EQ was only in the reporting biz. Additionally I pulled her EQ yesterday and she is a 697, up about 45 pts in the last month and a half. Anyone have any idea on this one? Thx Link to comment Share on other sites More sharing options...
LNY Posted March 22, 2007 Report Share Posted March 22, 2007 Hi All, kind of an odd situation wondering what the experts think. Yesterday my Wife received a letter from Houshold (CC account) stateing a change in Terms of Service Agreement, anyway interest rate adjusted from 18 to 32%apr, this decision was based on info from EQ. It also gave a number to call to get the exact reason for their dessision. Tonight she called Houshold and they told her that Eq had requested they raise her apr, whats the deal? I thought that EQ was only in the reporting biz. Additionally I pulled her EQ yesterday and she is a 697, up about 45 pts in the last month and a half. Anyone have any idea on this one? ThxShe must have misunderstood what they said. Equifax would not request that a creditor raise her interest rate. Something Household saw on her Equifax report made them raise the rate. Were there perhaps late payments, or an overlimit situation, or recent negatives? Not only with Household, but another creditor? Link to comment Share on other sites More sharing options...
wahoo238 Posted March 22, 2007 Author Report Share Posted March 22, 2007 She did not misunderstand, she actually asked the agent to verify what she had told her, I was there with her. As for other credit all is ot, ballences going down only neg dropped off, like i said before up about 45 pts to a 697. Any ideas how best to procede? Which laws will be governing this?Thx Link to comment Share on other sites More sharing options...
LNY Posted March 22, 2007 Report Share Posted March 22, 2007 Speak to Household's credit dept. and request that this be put in writing. Ask for a letter verifying and explaining the reasons for the ratejack. Play dumb. Link to comment Share on other sites More sharing options...
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