kleep

Crap1 strikes again

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So I've greatly improved my credit, raised my scores 100-150 points. I have no lates, and have paid my balance due in full for the last 3 months.

I just got a letter informing me that my APR will be 22.9% (up from 14.9) as of April 17.

I was just thinking I deserve a CLI, but this!?! I know interest doesn't apply as long as I'm paying the balance each month, but on principle I just want to close my account and reject these changes.

The only problem I have is that they're one of my oldest accounts. I know I can get a better offer on another major cc. I didn't open it at the time because I didn't need or want another card, but now...

This just ticks me off!

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I don't why it bothers you. Rates are going up across the board. Banks are getting slaughtered right now- partially due to defaults. someone had to pay the bill. Just don't let it be you. You have no balance, so even if they jack you to 30%, you pay nothing. Then you can laugh at CapitalOne as they're share price drops like a stone.

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While I would be pretty mad that my APR was raised for no real reason, keep in mind that 22% still isn't THAT horrible. I was rate jacked for no reason by HSBC to 31.99%. Good thing I don't carry a balance on that card. Those jerks just lost any potential interest income from me with that move.

Moral of the story= Don't carry a balance on that card. If you have one, move it to another card.

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