I have a First USA Platinum Visa that I have had since 1996 (when I had GOOD credit!) In 1998, I had several 30 and 60 day late payments. After that, they raised my APR to 22.99%. I have had a perfect payment history since that time. A few months ago, I called customer service to ask if I could get a lower interest rate and I was told no. Does anyone have a contact at First USA for me? Any other advice to get my APR lowered? At this rate, it seems I will never pay this credit card off. My finance charges are almost $80 a month!!!
I had two accounts with FIRST USA...one was JACKED for NO reason to 22.49% The second one was 13.99% but they REFUSED to go lower...so I closed that one too... PERFECT PAYMENT HISTORY SINCE 1978... Wife's account 9.99% "FIXED" but they wanted to "JACK" it too, so it was closed also... FIRST USA LOST ABOUT $72,000 for the 3 accounts...
Sounds like there is no hope there. Unfortunately, my balance is $4000 and I have no other card with that high a limit. I do have one card with 0% APR until 6/02 and $1500 limit. I will do multiple transfers and try my hardest to get it all paid off as quickly as possible.
George, I told him that I had perfect account payment history ever since my account is opened in 98. He asked me do I inteneded to make big purchase and carry over balances. I told him I might. He came back and he told me that my rate is going be: prime+5.99. By the way, I didn't carry too high balances because what I heard from the board and they jacked up your rate when you owe too much on the account. I used it for lunch or dinner. I don't mail in my payment and I always pay as soon as the account cycle ended. Ron.
Get rid of the FirstUSA card. I love FirstUSA and will vouch for it, but in 1997 Banc One (Who I will NEVER do business with again) took over and the name of the game was $$$ In mid 1997 we "repriced" 25% of our cardholders (Reprice is when we check accounts and decide whether to raise or lower rates...obviously lower rates was never an option). So out of 32 million cardholders, 8 million were in for a shock when they got their July bill. Rates went from 11.99% to 19.99 or 22.99% After 2 class action lawsuits and a guy in Portland, Oregon taking out newspaper and radio ads telling the audience to stay the hell away from First USA, we slowed down the reprices. Instead, we changed the rules to arbitration only, took away grace periods (So if you have a 4.9% intro rate due on the 20th and your payment comes on the 21st then you'll lose the intro and goes to whatever the next rate was, usually 14.99%, miss the payment again and it's 22.99%). That same time we raised late fees, overlimit fees from $21 to $29 then a few months later to $35. Next time you call a rep, before asking for a lower rate, ask how much interest (dollar-wise) did you pay for the year/last year. After getting the amount, then ask for the supervisot and hit him on the rate telling him "Are you willing to turn away $XXX a year???" GT
