Original card offer sent unsolicited because of my "outstanding credit." My signed agreement was for 7.9% fixed for purchases and 0% for balance transfers for 9 months, then reverting to 7.9% for remainder of the loan.
We never had a late payment, and always paid double or triple minimum due at the very least. We paid online and received immediate confirmations.
In June, card was at 7.9% for purchases, balance and transfers and cash advances.in July, it went to 24.99% for purchases and 25.99% for balance transfers.
I called their customer service person, who said she wasn't sure why the rate went up, but she believed they could get the balance transfer amount reduced. She gave me to a supervisor who stated she was wrong, and she would need "some re-training." I asked how they could raise my rates for no reason, and how they could contradict their literature and he asked me to fax the literature proving the rate was billed at 7.9% for the life of the loan. I complied and faxed him immediately.
Several days later I received a call from another service rep, I believe from India. He explained to me that the rates could not be lowered. I asked how they arrived at the new rates, and he said by examining what type of purchases I was making. He said perhaps they would re-evaluate in 6-9 months.
I told him to close the card immediately.
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