I've had an account with ATT Universal for quite a few years now. The original deal offer was a $7,000 limit at 10.24% I've used this card countless times and from the first month signed up for auto payment from my checking account. I NEVER made a minimum payment. Ever. Never made a late payment. I received increases in my limit to $8,400 then to S9,400 and the latest one to $14,700. I've received and used their 3.9% transfer offers. I've made payments as large as $2500 in one month. Good customer ? NOPE ! This month, I noticed that my interest rate had been RAISED to 12.99% a full 2.75% increase ! When I called customer service, I was told it was raised as a "cost of doing business" and that it had been done to many accounts. After much arguement with the manager, she agreed to lower my rate to 10.99% variable ! If I did not agree to the terms, they would close my account and I could continue to make payments until it was paid off at the 10.99% rate. Some choice ! This is a low underhanded approach to doing business. On one hand, they "reward" me with large limit increases and then quietly raise my interest rates. The people should be behind bars! Even loan sharks don't redo your terms when you pay them on time !
Toyman, I have AT&T Universal Card for almost four years and I paid my account on time. Last year I called them to aks for rate redution for purchases and they reduced my rate to 7.99%. In May, they sent me change of terms notice (is enclosed my monthly statement) and they increased the rate from 7.99% to 10.99% var effective September. I called them to ask for APR reduction and they rold me NO. I usually paid it off monthly and Ireally don't care the rate, From time to time they sent me BT checks like 4.99% until paid off and I didn't use because BofA offer me prime rate plus no fee until paid off. Ron.
Ron, Up until this happened to me, I would have NEVER believed a story like mine or yours. Usually, a company tries to treat their good customers well. In my eyes that would be something like they did with you with the rate reduction. The reduction did't cost them much but the goodwill they got out of doing it can't be measured! Imagine, do that for a customer and he tells his friends and so on and so on. Pretty soon, they will have gotten many times your discount in return. Instead they choose to sour the relationship with you and possibly lose a customer along with the potential customers that now will not be customers because of websites like this. I just don't see the logic behind it. Toyman
Toyman, Nowdays Banks is owned by shareholders and noone care about their good customer. I gave you one good example like Bank One closed all my accounts. I have been good customer withe them since 98 and perfect payment and credit history. They closed all my accounts with them because they found out that I have too many tradelines and balances. You find some other good banks having better terms and jump to that bank. There is no loyalty and logic. You and me have good credit history and I'm sure that someone wants our business. Ron.
Some credit card issuers actually started charging a fee (or a higher fee) if you never paid interest. As for what a lot of these companies do to good customers, ask GEORGE.
Citi has raised their rates acrossed the board for the past 2 Septembers. Give them a few months (4-6) and they should lower the rate back. Mine was lowered and others CNetters have gotten theirs lowered as well. You may have to call 'R'. However, I do not have the number anymore. However, you should be able to find it under a search for posts by MARCI. Willis
