Last week i recieved a "notice of change in terms" from hsbc. Apparently on 4-10-07 they're hiking my 12%APR up to a whopping 27.9%. This is insane!
I called the number provided (titled for specific reasons) and the lady confirmed the increase but said she was unable to access any specific reasons. I informed her that there was no way in hell i was going to pay that much interest, i also reminded her that i have never been late on a payment and i have always paid 2-3x the min. Amount due! She offered absolutly no help at all.
I then iformed her that i would be paying off my balance before that date and will close my account. She then proceeded to try to get me to sign up for some savings plan! I laughed at her and said"are you deaf" i'm closing my account"!
After that i checked my credit report, no lare payments and no negative factors on it.
I'm just thankfull i can pay off my balance because if i owed a large amount of money to them, they would really be screwing me!
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