Chase - WAMU - Advanta
Card Rates Raised to 35.86% Despite On-Time Payments

I am the owner of 2 small businesses. One, operating since 1993, the other since 1995. In 2006 I became a partner in yet a 3rd business. Due to circumstances beyond our control (no really, we were forcibly closed due to new development that eliminated 1/2 of our leased facility) we were forced to vacate. That issue is being addressed through litigation. However, the involvement in that 3rd business caused me to create a heavy load of credit card debt. I pay on time every month (none late), always more than minimum, pay off large AMEX balances in full each month.

My problem is now 3 credit card companies have raised my rate as high as 35.86%. At the same time, literally the same month, they increased the credit limits on those accounts. I received no written notices, only the increase listed in the APR section of my bill. If I were not the type to scour each bill I would have missed it. I phoned (all) and was told that due to my use of available credit on all accounts everywhere, they raised the APR.
I do not stand a chance in Haiti of ever getting out from under this. I am cancelling these cards so they do not continue to go higher in the APR.

I cannot for ethical reasons justify filing for bankruptcy. Can credit counselors help? I am drowning with no sight of a life saver.

Company: Chase - WAMU - Advanta
Country: USA
Site: chase.com

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