I have been banking with US Bank for over 8 years. I recently falling into hardship and am working desperately to consolidate debt. I had an interest rate of 7.99% on my Flexperks CC. I also recently took advantage of the "convenience checks" that they mail out - offering 0.0% APR for funds transfers or whatever. 2 weeks after using a check US BANK sends me a letter informing me that they were raising my interest rate to 12.99%. Outraged, I called and was very calm and polite and asked for an explanation... Here is what I was told by Marla " Your account qualified for an increase bank profitability" What the hell does that mean!? Said not quite so nicely..." We can make more money off of you!" I said that I would like to know what made my account "qualify for such a silly thing and was then transferred to a "supervisor". Whom I asked "What qualified my account for the increase. I was told by Michelle..." We are a business and need to turn a profit" Yes... That is what she said. This is what I think... I have NEVER been late on a payment, I ALWAYS pay much more then the min. Due. - therefore they cannot make enough money off of my account. Is anyone else sick of this ridiculous business? Why can they do this? I realize and am responsible enough to know that cc are very stupid an dangerous. However, I have always been smart and rigid with my use of them and recently have a monthly deficit so have turned to using them much more then I would like... Is anyone else outraged by the lack of Ethics surrounding situations like this? I surely cannot be alone!?
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