Can they do this? CC OC didn't disclose fixed or variable rate in CC disclosure

[sweetb82]

Hello! I was pre-approved for an Ascent Visa card back in 2005. I was excited for simply being approved. Once I got the card I realized that the APR was 14.9% however the company didn't disclose whether it was a fixed or variable rate. I've gone over and over the initial info from this credit card company and no where in the information does it disclose whether its fixed or variable? Aren't they required to list such info? If they are, and it being that they didn't - am I in the right to dispute this info?

Future thanks for any assistance

[Robert Nashville/Savannah]

I doubt that they have not discolsed what the law requires; I suspect the appropriate information is in one or more documents that are/were available to you.

Also keep in mind, they can pretty much change the terms of the account at almost any time.

[sweetb82]

Sure, I understand that they can change those rates at anytime. However, my concern is that they didn't show me anywhere in ANY of the initial documentation that this was a variable rate. Just to be sure, I've gone through the info again. It says "Annual Percentage Rate for Purchases....14.9%" I even read the super "fine" print in the enclosure. It shows the same info without disclosing whether the rate is fixed or variable. I guess my beef with this is simply, they didn't disclose the full truth about this card. If I had known this was a Variable rate I simply would not have returned the pre approval.

[Amerikaner83]

since theis was back in 2005, I doubt you even have an actionable issue, being 3 yrs or so old. Usually if they don't say fixed or variable, I assume variable.

[swirlgirl]

Did they charge you more than 14.9% for your purchases? There might have been a differnet rate for cash advances. What did they charge you?

[sweetb82]

I DV'd the CA and got a nice letter back saying it was being removed. Too bad I had already forked out $$ to send my CRA Dispute Certified & RR Haha! I'm happy it was removed!