My Mother, who is 74 years old, spends everyday worrying herself to death over what to do about Chase Visa and mastercard raising her interest rates from 19%, which was bad enough, to 24%. She faithfully pays her minimums every month only to find that now her monthly balance is going up not down! She is frightened and feels trapped.
She has written the company twice requesting that they please make the rate more reasonable but they refuse to help her at all! They told her she was notified that the company would raise the rate unless she paid in full or cancelled her card. Her eyesight is not good and with all the junk that famously comes with every bill you receive these days naturally she never saw the threat by this company.
Basically they say she has to live with it now. I think this is disgusting and if anyone should be going to prison these days it should be the holders of these credit card companies enticing people with excellent interest rates and then maxing out the consumer by suddenly, without cause, raising these rates to outrageous amounts, even when these customers have paid on time and met all terms.
Shame on big business for ripping off the American consumer and especially our Senior citizens. If our lawmakers want to help our economy then help the citizens of this country get out from underneath the debt burdens imposed by unscrupulous credit card companies.
Missy
Houston, Texas
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