I was offered by Discover Card a. 90% (less than 1%!) rate for the life of the balance as long as I make one charge per month on the card for at least $25. Not too bad. For several months I had to remind myself to make a gas purchase in order for my special rate to continue. This was the only charge I made on the card as I try to pay the balance off.
While I was in a residential move I went to paperless statements which meant I had to be more careful about making payments on time. For two months in a row my payments were 2 days late each month. After the first occurrence they raised my rate to 29.9%! Which on a $9000. Balance my finance charge went from $11.00 to $244.00!! More than the $200 minimum payment they were asking for!
When I called in customer service I was so upset she did offer to remove the two $39 late fees but I still have to pay the finance charges of approximately $500.00 for two months and she was only able to lower my interest rate to 11%. After being an excellent customer with excellent credit I get kicked in the teeth for being late by 2 days! Sad that banks are trying to make it impossible for us to get out of debt.
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