direred Posted March 22, 2007 Report Share Posted March 22, 2007 So, the card was supposed to have no annual fee and a rate of 29.5% (which sucks).So I was checking the statements, only to discover the actual interest rate charged is actually more like 59% (almost exactly double).They're getting a Very Special Letter as are the appropriate regulatory agencies. Link to comment Share on other sites More sharing options...
elyse449 Posted March 22, 2007 Report Share Posted March 22, 2007 I got an offer from them and BARFED when I saw the yearly amounts, interest rates, fees, etc. I don't have the letter in front of me, I'll get it later-(gotta go out for lunch) but my goodness...highway robbery?Elyse Link to comment Share on other sites More sharing options...
direred Posted March 22, 2007 Author Report Share Posted March 22, 2007 Well, the card I have has no annual fee and a supposed interest rate of 29.5%.Horrible, but hey, I could always use the reduction in util, y'know?Right now, though, it's looking like the real interest rate is 58.98% Link to comment Share on other sites More sharing options...
direred Posted March 23, 2007 Author Report Share Posted March 23, 2007 Turns out their online statements were wrong, and that the interest rate was in fact exactly what it was supposed to be.Damn that had me freaked for a bit, though. Link to comment Share on other sites More sharing options...
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