Prime rate in the low single digits? Your personal credit golden? Doesn’t matter. Rates rising from 9.99% to 13.25% by July 1st 2009. I assume this is to beat the rate rising limitations in the new credit card laws coming on line in the fall.
Yes, I got mine, Going to 13.9%. Fucking cocksuckers. I’m cancelling this bullshit.
I have three credit cards. I got a rate bump from every one of them.
Haven’t heard a peep out of Chase or Capital One. Then again, until I just went and looked, I couldn’t have told you what the APR was on either card, since I’ve never carried a balance.
If they eliminate the 1% cash back, I’d think about bailing, and if they eliminate the grace period, they’re history.
I’d never even looked at the cash advance interest rate. Geez, I’d be better off going to visit Paulie Walnuts if I needed to borrow cash!
A couple of months ago I made a big payment on my Chase Visa Signature card (10.25%) to cover some dental bills. I got a “we noticed a large payment–please don’t close your account, we want to be your credit card company!” letter. Then, they raised my limit by $5000. Cool!
Then, just a month ago, I applied for an Amazon.com card so I could get $30 off on a $60 purchase. It turned out to be a Visa from Chase with a $4600 limit, and a 13.24% rate. No problem…I just won’t ever use it.
Oh ho–Chase decided they wanted the last laugh. A week ago, I got the bump notice on the original card. I called to complain, and they offered to lower the APR on my NEW card, but not the old card. I said, “You’re the same company, I’m the same customer, what kind of BS is that?” Of course, there was nothing they could do on the old card.
So then I asked them how long they could guarantee the lower rate on the new card. “Oh, sir, we can’t guarantee anything…” Bastards.
Suntrust stopped providing my credit card and switched me over to Chase. I haven’t used the card in two years and don’t plan to use it ever again. So they can hike my rates as much as they want…I plan to tell them to go jump in a lake in the next year or so anyway, once we have our savings up to 3-6 months’ worth of expenses.
I have a Chase card so I can earn miles. I don’t every carry a balance so I don’t give a crap what the rate is. I don’t think that I got any notice though.
Aye, everyone’s doin’ it to me. BoA cut down my limits, too, over the last year. THAT was annoying because that happening while you carry a balance hits your Credit Score.
Right now I’m at 8.99% and I haven’t gotten one yet. Though maybe I missed something because for some reason I had no minimum payment this month.
Eh, mine is already in the twenty-something % APR because I was late on one payment.
One. That’s it. That’s all it took to go from sub-10% to over 20%. Though from what it looks like, it might not have mattered since they get raised for no reason anyway. Glad I don’t carry a balance on it anymore (put it all onto one of those “no APR for a full year” deals on a new card, and haven’t charged anything to that one either.)
But is that guaranteed? I mean, assuming I pay on time every month, at least the minimum (I always pay more,) can’t they still decide to milk me for all I’m worth and randomly up my balance transfer APR from 0% to 30%, just for the fun of it?
Not only did I get that notice from Chase, I got a notice informing me that my credit limit has been reduced from 15k to 5k because I never have went over 5k on my card so they said I don’t need it.
Real reason: I transferred most of my balance to another card and they are pouting.
I haven’t gotten a bump notice from Chase - they just lowered my rate from 16.9% to 10%, although I haven’t carried a balance on that card (or used it) in a while. I’d close the darn thing, except I’ve had it practically forever, and I want to keep it on my credit record for when we get aorund to applying for a mortgage in a year or so.
I got a bump notice from Capital One, only a couple of months after they lowered the rate to 6.9%. I’m planning to pay off the last chunk of the balance in a month or so and be done with it, and hopefully never need a credit card except for convenience purposes again. Jerks - lord knows they’ve made enough money off me over the years.
I haven’t gotten a rate-bump notice from Chase. Instead, they raised my limit by $5,000 and offered me another card with even better benefits. I have never paid them a penny of interest, but they love me anyway.
I was notified of the change, but I never carry a balance so it’s not that big of deal. I use it mainly for the cash back program. Were that to be changed I’d evaluate what other programs are out there.
So far there’s been no change in the credit limit.
Got my notice too.
Bastards.
Are these for variable rate cards? Because I signed up for a 7.99% fixed rate card years ago, and I haven’t seen any notice.
Though maybe I should wade through the giant pile of mail that I’ve let build up for the past couple of weeks.
The Capital One rate was fixed. I don’t remember about the Chase rate, because I haven’t used the card in ages, but I think it was fixed.
Nope. Fixed rate. I’m sure there are exceptions in the fine print on the agreement somewhere but I can’t find my magnifying glass at the moment.
I got it. I never pay much attention to the interest rate on my credit cards, since I pay them off every month.
I don’t think here’s a “fixed rate” anything re current credit cards unless it’s for a fairly limited time. The rate have been X for a long time but the CC company can unilaterally change it to Y if they want. I pretty sure the CC companies are changing the old “fixed rate” to a new “fixed rate”