Has anyone had National City Bank raise your Credit Card rate for no reason?
Not only raise but take a fixed card for below 10% APR and increase to variable above 20%. I mean for no reason, and if they have answer the following; 1, Is you credit report what you consider “good”? 2 Confirm you have never had any late payments, bankrupcties or defaults. Not only to National City but any other creditor? 3, Is your FICO score above 700? 4, Did they raise it after you had a balance? I am willing to bet they did not want to raise it when balance was zero? Despite what is buried in card agreements would you agree this borderlines on either fraud or predatory lending?
What a bunch of loan sharks they are.
Well, I can honestly say that I don’t know anything about National City Bank since I’ve never done any business with them. I can say that most credit card companies have the right to raise your rate whenever the rates increase. Dell is particuarlly BAD about this. When I applied for credit with them, I didn’t have any credit. Since then, I can answer yes to every one of your questions and they still raise my interest rate whenever the rates increase. The interest rate on that card is over 30% and they refuse to rerun my credit or lower the rate. Some companies are just more concerned with their greed than good customer service. Needless to say, I’ll never use that account again and I think it’ll do more harm than good to cancel it and reapply since that’s the OLDEST credit account (over $100) on my credit report.
Well, just recieved and amendment to my FIA Credit Cards. I have a MasterCard and Visa. It says basically that my interest rate will go up from 7.99% to 21.99%. I can however reject this amendment by writing a letter and stating that Reject this amendment. They will allow me to keep my 7.99% but if i ever use either card again after a certain date they will raise it to 21.99% Yes, my credit score is good. Never had a late payment with them. If I have had a late with anybody else i dont remember and no defaults or bankrupties. My FICO is above 800. Yes, they raised both of them with balances. My question is this. DO you mail your payments to either Delaware or South Dakota. If yes then ive been reading those two states have the lowest consumer protection laws in the Nation. Basically what i have read they can do whatever they want in those two states to any body in any other state. Somebody needs to take action. So I will promptly write my letter, never make another purchase and pay off my balance. I will then cancel them.