Just so you all know, I strongly suggest you check your envelopes when you credit card bill arrives.
We noticed out 11% interest rate went up to almost 32% from 1/1-5/23/06!
We phoned and were told there was an "insert" with our December bill telling us this was going to happen. I check all of my envelopes and have seen these sneaky inserts and have contested them. There was not an insert in our December bill.
Too bad for us. We are now stuck with a credit card that more than tripled in interest in 5 months! We have not been late and always pay more than the minimum.
The new catch is they will raise your rate if they feel you have too much credit out there. Too many accounts. So they will punish you for having revolving debt (that you are desperately trying to pay off) by making your rate go so high, you can't pay them off... Ever. That's progress America. That's greed and gouging in it's ugliest and so common form.
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