I had a platinum Visa through my Bank (Wachovia). I had this Visa for 13 years and had NEVER been late on a payment in the entire 13 years. Well, Wachovia had MBNA start servicing their credit cards and it went down hill from there. On June 4 I requested a credit limit increase because I was getting near my limit and I didn't want to go over.
Well, not only was I denied the increase but my account was closed and my interest rate was doubled. What ticked me off the most is I never received a letter telling me that they had closed my account. I found out about them closing my account when I called about a late fee on my account because I was late making a payment because my bank didn't credit my deposit on time. But when I found out about them closing my account I forgot all about the late fee.
When I spoke to what I guess was a manager she told me that if they saw the balance start to come down then they would re-open my account. Well, then about 3 weeks later when I get my statement, they have doubled my interest rate from 11.90% to 22.98%. Well, I called this time and asked for the name and address of somone that I could send a complaint letter to because enough is enough. I have been a "good" customer for 13 years and have NEVER been late on a payment and when I asked for a credit limit increase they not only deny me but close my account and increase my interest rate.
And to top things off they put a negative mark on my credit report about them closing my account. So to me that means they have NO intentions of re-opening my account, and at this point I wouldn't use it even if they did re-open it. To me that is bad business. I know that I have some bad marks on my credit but the things that they are going by are minor compared to the other things that are on my report that show a good credit standing.
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