Complaint / Review
Retailers National Bank
Ripoff minniapolis

Retailers National Bank seems to be following a policy that other credit card lenders are pursuing around the country. That policy is to increase already high interest rates even higher after someone misses two payments.

I find this policy upsetting because of the following reasons:

First, 21% is already a high interest rate and to increase it to 24.99% is outrageous.

Second, this company and/or many others have also intiated monthly late fees of $20.00 or more. Is not a twenty dollar late fee a suffiecient penalty for a late fee?

Third, they make you reply by writing. Well, this is a more difficult process and many consumers become distracted and fail to respond to the company in writing to voic their complaint. And if one can forge a telephone call, they could also forge a letter.

Fourth, the prime rate has significantly decreased while credit card rate remain high or in this case they even increase.

Consumers, all I can say to you is to cut up your credit cards and bitch and complain to everyone. That will set you free!

JOHN
KANSAS CITY, Missouri