My husband has had a People's Bank credit card for at several years now. We got it in the mail and transferred a much higher rated card to this one at 13.99%. We have never been late or over our credit limit. We recieved a letter from People's Bank in July stating that they were going to increase our interest rate to 27.99% for three reasons. 1) the total balance on all your credit cards and other lines of credit are high when compared to the total amount of credit available 2) Your credit bureau reports that in the past 12 months you have had balances on a high percentage of your credit cards
