Opened the account with 2 balance transfers in 2001. Paid more than minimum payment every month with out missing a payment.
Raised credit limit in 2003 so I transfered another higher interest card to this account.
Feb. 2004 received a letter stating there would be a change in my account, but no terms listed. If I refused not to accept these terms I must reply by March 22
With no idea of terms, I did not reply.
My May statement arrived with a great increase in interest rate. Contacted customer service, and summited written request refusing these terms. Fleet sent a letter telling me that I could not refuse because I did not reply by March 22.
There answer was that there decision was made on a credit report from Trans Union. I was 2 days late with a payment in 2000 before this account was ever opened and the only late payment on this entire credit report. They said that the interest was raised because of level of delinquency.
If this one late payment was the problem, why did they open the account, and why did they raise the credit limit!
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