As I looked at my credit card statement from Bank One I see that my rate that used to be in the single digits (8.99) is now a whopping 19.99%.
So, I called to inquire - I was told that a letter was sent, (I never saw this letter) and due to a random check of my credit after all these years, they have decided I am a risk (mind you I have not been late for any payments to them or any other creditor that they can report to me so why?
Well, no one call tell me. I asked to speak to a supervisor who told me the same thing, the letter that was sent (I did not receive) gave me an option to opt out, since I didnt, I supposedly 'agreed' to the new rate of 19.99. There must be some kind of law or regulation about this sort of thing. If not, there should be.
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