In September i notice that our interest rate on our Lowe's visa card was changed from 15% to 22%. I immediately called the customer service and was informed that GE bought the card from Capital One. The increase is based on the prime rate at that time. They also claimed that they sent out notification of the changed but that is not true. We did not receive anything from this company on the increase of the interest rate. And i was advise that they are not going to lower the interest rate. This is outrageous. If anyone has a Lowe's Visa card either close it out or when you use it pay it off so they cannot charge any interest on you. This company should be shut down. This is a clear bait and switch practices of the credit card companies.
I hope the Federal Trade Commission is reading this complaints and appropriate action should be taken.
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