I have had this credit card for many years, and my APR has always been 9.99%. Today I received my bill, and my interest rate had gone up from 9.99% to 14.99%. I have never been late with a payment. I have always paid on time.
I used to pay $300.00 a month, but because of my higher APR it has gone up to $340.00 a month. Instead of charging those who make late payments, the banks have decided, due to bad economic times, that those of us with an excellent payment history have to become victims of higher APRs without prior notification.
They claim they notified me, but they never sent me anything of the sort inside the mailer along with my statement. I haven't charged anything in months either. This tactic is unfair and unjust, and if it keeps up, the bankruptcy rate in this country of ours will surely escalate.
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