I received a change in terms in the mail this week. Get this, my APR will go from 9.9% fixed to 19.99% and if ever defaulted +21.99%. I cannot pay off the balance right now in full, so should I not agree to the terms and keep the balance owed @9.9 with account closed or go to 19.99% to keep the account open for long life. By the way, i heard some cneters say that a fleet closed account is still subject to new terms if balance is not entirely paid off. Is this true?
I'm not sure about the issue of the account being closed and subject to the new terms. I would call and ask a rep about it. If it was me, I would just close the account (if you can keep the 9.9%), otherwise if possible, try to BT to another card (even if it's some of the balance) because 19.99% is killer!!! The only thing about keeping the account open after it is paid off is this; say you do get your apr back to the previous rate, who's to say Fleet won't "conveniently" raise your rate again once you get a balance on the card or for any reason they deem so. Good luck on it and hope you get em!!!
THEY CALL ANY CLOSED ACCOUNT...IN DEFAULT...YOU PAY THE HIGHER RATE...YOU CAN'T OPT OUT WITH FLEET!!!
Re: Re: Fleet changes my terms!!!!!! I thought u had said this before about opting out allow Fleet to push you to default. Ok, i understand what you are saying, but the change in terms says i can write to opt out with having the account closed. So in another words, closed acct=default. Am i comprending you correctly? What a crazy point of view by fleet.
Re: Re: Re: Fleet changes my terms!!!!!! "IF" they give you an OPT-OUT...IT WILL BE THE FIRST TIME THEY EVER DID...IT EVEN SAYS ABOUT CLOSING AN ACCOUNT IN THE T.O.S. AND IT BEING IN DEFAULT!!!
Re: Re: Re: Fleet changes my terms!!!!!! 1.If you fail to make payment when due, exceed your credit limit, make payment which does not clear and is returned unsatisfied, default on this or any other Fleet account, or upon any closure of your account, we may immediately increase all rates (including any introductory rates) on your account to the Default/closure APR. Default/closure: up to the higher of 23.99% APR (.06573% daily periodic rate) or LIBOR + 22.935%2 ANY CLOSURE!!!
Re: Re: Re: Fleet changes my terms!!!!!! "IF" YOU CAN REFUSE THE NEW TERMS AND KEEP 9.90%----DO IT!!!
