Home Depot
Credit Card Rate Raised to 25.99% Despite On-Time Payments
- 06-30-2010
- 20
Within the past year, Home Depot has increased the interest rate on its consumer credit card to 25.99%, which makes paying off a balance close to impossible for anybody. I have always made my payments on time and never exceeded my limit. On several occasions they even increased my credit line to encourage me to buy more.
Right after the rate went up, and several times afterward, I phoned and wrote to the credit center to request a lower rate, and each time the answer was no. This rate is unfair and hostile to consumers. I keep paying every month, but I make no progress because most of each payment is eaten by finance charges. It is an endless cycle.
Company: Home Depot
Country: USA
Site: homedepot.com