On or around September of last year one of my credit cards [FNANB VISA] changed my interest rates from 15.9 to 29.9% with no reason given. Upon my inquiry I was told that my account was in errors and I have missed some payments.
This was totally untrue as my credit report at that time showed only a late payment to Capital One back in January. This was a payment that was late due to the mail system shutting down for a few days during the Anthrax scare. I contacted Capital and because they would not credit the late charges, I paid them off and closed the account.
I then told FNANB that my records from my bank statements showed that all the payments were made in time and that I have never missed any payments. They told me they would send me a report. To this day and after two telephone conversations I have never received anything from them.
My response to them was to go back to the 15.9% or I would consider the contact broken by them and I would stop all payments until this was rectified. They would not change my percentage, so I stopped all payments to them.
This created a snowball effect with all my accounts. Chase was the next card that also would not change back, so they are not being paid at this time. Providian was next.
Following is a copy of a letter that I emailed or mailed to all of my credit card companies. So far the above three companies have ignored me.
As to my records of payments to your organization, I believe that I have made all my payments on time for many years and I should be returned to my past status and credited for the added interest rates. If not then you will be the next credit card company that I will immediately stop paying.
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