My husband and I have had a First USA card for over 8 years, and have never missed a payment. As a matter of fact, we've had a direct deposit going directly to the card of 100.00 a month, (way above the minimum pmt due) to get the card paid off sooner. We have never missed a pmt, nor have we been late. We found out recently, that Bank One bought out First USA, and when they did, they reviewed everyones credit reports.
When they reviewed mine, they found that I had high balances on other cards, (that were also never late, and paid well above the minimum) so they decided I was "high risk" and changed my interest rate from 9.9%, to 19.9%. I was being penalized from them for owing alot of money? This made no sense whatsoever, so I called them, and demanded an explaination. The customer service representative proceeded to tell me that we were "high risk" so they had to increase my interest rate. This was obsurd, so I had them refund such outrageous charges and close my account. I will never do business with them again.
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