I had an account with them for 5 years.in that time i had 1 late payment which i even tried to avoid by calling them on the day the payment was due and make a payment by phone. They refused to waive the fee and I closed my account. Then I get a bill that shows my Interest rate raised to a whopping 29.9% and a $6 "participation fee" which I was completely unaware of.
When I called to find out why I had this fee they claimed to have mailed out a notice about a fee being charged if your acct. Balance was over $1000 and that since I did not respond in writing within 30 days of their notice to opt out of it, I now have to pay that.
I have no recollection of ever receiveing this notice but that didn't seem to matter to them. Also, they said the notice also stated an increase of 3% interest rate to my acct. Then since I had that 1 late payment in 5 years they had raised my rate 6% more. This is (il) legalized loan sharking if you ask me.
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