I have been with this company for 6 years now because they started charging me an interest rate of 36.75%. I am now more knowledgable with credit card laws and have found that I will be able to break this company down one way or another. I tried their so called payment plan to get back on track with regular payments, but with the interest rate being so high, it never stops.
This company will try to squirm out of putting anything down in writing, they will call you until the cows come home, all hours between 8am to 9pm at night. That is harrassment within itself. They always ask me to pay over the phone, every month when I get my bill in, the owed amount never gets any smaller. It either stays the same or it goes up.
This company will lie out their butts and make you feel that you do not have any other choices, but you do, that is what I am working on now. I want to fight this company and get them to lower my interest rates. I have paid on this account for at least 5 years now and I would have to say that I have probably paid the entire origional balance off by now. The rest of the charges on my account are from the high interest rates, the monthly maintenence charges as well.
I do not reccomend this card to anyone at all. They will tell you one thing on the phone but they will make every excuse up in the book before they will put it down in writing for you. Do not agree to anything they have to say over the phone at all. They told me I would start getting a 0% interest rate for one year if I paid a certain amount on my card. And guess what, it never happened.
Also make sure you get time, dates, the service representatives name and id written down before you get off the phone with them. If you do not, you cannot back yourself up when they decide to call back and make up something else to get more money out of you.
They have it written down in their rate regulations that says finance charges will be imposed in amounts or at rates not in excess of these permitted by law (for maryland residents only) That certainly does apply to me and they are still charging me a very very high interest rate. My state does not go above a certain rate, that is what I am fighting with them now. I have a feeling that they probably owe me money.
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