I think the credit card companies are trying to pull a lot of stuff right now. I'm sure it has a lot, if not all, to do with the new laws that may be enacted.
For 1 of our cards, we've never been late, been paying on the balance regularly, & yet we got a notice that our rate will be going up, from 9.99% to 11.99%. On another card, we paid it off because the rate was 26.99%. They wrote to us to say we hadn't used the card, so they raised our limit. I wrote to them to say we wouldn't use it with such a high interest rate, so they lowered it to 7.99%. We're going to do a balance transfer on from the 1st one mentioned to this.
BJ's had an interest rate of 29.99%. This was one of the first cards we paid off, & we haven't used it since because of the rate. We got a letter in the mail last week that they closed our account because we hadn't used the card. I always thought closing a card was a bad thing to do for your credit, due to the available credit to credit used ratio, but I'm thinking maybe all bets are off right now with these new laws trying to be passed.
Be very cautious & check your statements! These companies have always tried to pull some sort of crap, including changing due dates. You really have to stay on top of them.
Donna (Upstate NY)
"Even monkeys fall out of trees."
"Suffering is the tuition one pays for a character degree."
"Accept your diagnosis, but never your prognosis." home.roadrunner.com/~andydonna
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