I signed up for a Fleet credit card under the promise that I would get a very low FIXED interest rate (6.9%, I think) if I transferred the balances of my other credit cards. I did transfer my balances and diligently paid at least if not more than the minimum payment each month. I never submitted a late payment.
All was well for about 2 years when one day I opened my statement to see my interest rate had jumped to 25%. I had never recieved notice that my rates would be going up. I immediately called Fleet and was told that the fine print on the offer said that after a certain time period my rates would go up.
I read the fine print and never saw anything like that. The offer was a fixed interest rate until the "loan" was paid off... Unless I was late on payments, which I never was. I repeatedly called Fleet and made all sorts of fair offers and they would not budge. They insisted I pay the huge interest charge or it would go on my credit.
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