On January I applied for a Target Visa I have had this account in good standing for 4 years now and before that I had a Target Guest Card which was also in good standing. Never have I been late on a payment. On January 12 Retailers National Bank notified me by a letter stating that as of February they were changing my Interest Rate from 18.9 to 21.9 because of a recent credit report they had ordered on me.
I called them to rebut there decision stating that the information on a 1997 deliquency was due to be removed in July because the information was 7 years old and since that time I had no other deliquency's that my debt ratio was much less than when they issued me the card in 2004. I now owe less make more money and have a higher credit score. I only have two other credits cards and they are paid in full each month if used.
I dont understand there decision I have flawless credit history with Target & Retailers National Bank. I have sent a letter closing the account which will freeze my rate at 18.9%. I also informed Target Credit Services that I will never buy so much as a gum drop from them. I am through with shopping at Target and I do plan to close my account with mervyns and never shop there again.
I hope this will let a lot of people know that Retailers National Bank is one of the worst credit card company's I have ever done business with. If they do this to there A-1 customers what are they doing to someone who has less than perfect credit.
I have recently learned that Target and Mervyns in california will not allow Toys for Tots or any other Military charity Origination to gather toys or money for charity. But they will allow non military groups to ask for money on there property. Thats all the reason I need not to shop at Target. I support the military.
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