I also received a change of terms notification in my last billing statement. Went from 9.99% to 19.99%. I called to ? and they restored my rate back to 9.99%, but I had just paid off my balance. Just received the following letter from NextCard: (Dear first name instead of Mr) "Thank you for contacting us regarding your NextCard account. This responds to your recent inquiry. You recently received a new Supplemental Disclosure advising you that, among other things, the annual percentage rate on your account was changed. The change to the annual percentage rate on your account occurred as part of a change in NextCard account terms which NextCard sent to all it's cardholders. We want to assure you that the change is not based on your particular credit profile with NextCard." Since receiving this letter, I have called on two separate occasions and verified my APR is 9.99%. Balance remains 0 and I have cashed out my reward points.
THAT LETTER SAYS NOTHING... I would ask them to state WHAT the interest rate is...IS IT 9.99% FIXED OR IS IT SOMETHING ELSE??? GET IT IN WRITING... MINE IS 9.99% FIXED FOR NOW...BUT MY WIFE'S IS 18.99%...ON 08/15/2001 THEY ARE GOING TO MAKE NOTHING OF ME (WIFE) @18.99% IF YOU CLOSE THE ACCOUNT...19.99%
