I recently opened by credit card statement and found that my interest rate had just doubled. I have a FIXED rate card and thought it was a billing error.
I notified them and requested my interest rate be corrected. They said they could not correct my interest rate and stated they had sent a letter of my rate increase. I never recieved such a letter. I requested they return my rate to the prior fixed rate while they re-send this letter of rate change.
They could not, and went on to say that they had pulled a credit report and my rate was changed based on information this report contained. I then requested that they include all credit reports they used with there letter of rate increase, so I could see this information for myself.
They said that I would have to request my own credit reports. The interesting point is they increased my limit by $3,000.00. An increase of that amount tells me I must have a positive credit report. I stated this fact back to them, and agian request my rate corrected to its original FIXED rate and they refused. Now I am left with two increases, a increased credit line and a higher interet rate. I never wanted an increased credit line or an increased interest rate.
I am still working on resolving this issue.
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