My Emerge account actually started as an ARIA Visa. It was then sold to Getsmart, and then to Providian, and then finally to Emerge. The nitemare began when Emerge took over the account, with no prior warning I might add.
I got a letter in a the mail stating that my account had been sold to Emerge and my interest rate would be raised from already somewhat high 21% to a whopping 29.99% It also stated that if I wanted to lock in the 21% rate I would need to call the number provided and close my account. If I wished to keep the account open I would have to pay the higher interest rate. I chose to close the acccount. This was back in 2002.
I am still being charged the higher rate, I pay my monthly payment every month (through a third party debt consolidation) and my balance never seems to go down. I still owe them over a $1000 on an account that had a $1500 max limit. They have ruined my credit. I owed so much in interest and over limit fees that I couldn't afford to pay the minimum payment. The account went to collection and needless to sat it is the main reason I had to enter debt consilidation in the first place.
They are a scam and should be stopped! I have called a few times to speak to someone about the wrong interest rate I am being charged and I get nowhere.
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