Which cc companies do you think are the worst rate jackers. The only ones who have ever jacked my rates are MBNA. They did it on my platinum plus acct all the way up to 24.98% and now they are going to do it on my Quantum. I cacelled the card when they did on plat plus and now I'm going to swtich my entire balance over to ATT Universal. I'm really upset because I've neverf been late or gone over my limit on either card. Do you think ATT is likely to jack my rate or is this more a MBNA thing?
Why are they doing it? Is there something on your credit report that's causing them to raise your rate? If so, look for other creditors to do the same.
My score has remained fairly constant at a little over 700 at the worst. The only thing that would give them any cause at all is a higher utilization. I'm a little over the 50% utilization now. Maybe MBNA will lower my rate if they see that I've transfered over the entire balance to someone else. They would then know I'd be very unlikely to use them much if they give me an unreasonable rate like this.
I canceled a card after it got transferred to MBNA and they jacked the rate (almost right away). The bank I was with sold their entire portfolio to MBNA, so I canceled it. I've had several friends they did this to. I haven't had any trouble with FirstUSA (I know, I'm the only one!). When my credit was bad, Bank of America and AT&T Universal also upped my rates, but I think I had late pays with them. There was no reason for the MBNA--never paid them late. I think AT&T Universal may not have been Citibank back then. I've never had any trouble with Citibank.
I've had First USA for 6 years or so now. They've never raised my rates, but they've never given me a CL increase either. MBNA has been much more generous with CL increases, but they've also been the most greedy rate-wise.
I recieved a revised copy of my BOA terms and they warned cardholder that they will jack APR to default rate if they see ANY creditor on your report that has 30 day late. (sounds like their copying Citi's policy)
I got rate jacked today! Got my bill from Chase (acct closed, $7100 balance- was on hardship program for 2 yrs- been paying on my own for well over 6 mths) Since the hardship program began I have never been late or missed a payment- especially now that I pay what was interest at 10.99- now jacked to 16.24% The only recent late I have on my CR is from a mortage paid off in 8-2001 which is reporting as currently 60 days late -in process of disputing- whole acct deleted from TU CSR said notification sent in Dec- option of writing into "discuss" with them etc.... who reads that microscopic fine print??? Anyway, any suggestions on my letter to discuss this with them?? Thanks
Re: Re: Re: ratejacking Exactly my dispute!! I even called the mortgage company and they first did the huh??? thing, then I spelled it out..paid in full, currently 60 days late...please change from I3 to I1, thank you! they haven't moved so I disputed it and TU deleted the whole acct! Anyway, if a credit review and acct history are reasons for this jacking, I don't have any red flags to warrent it- no lates, no chargeoffs. Go figure.
Re: Re: ratejacking What reason did Chase give for the rate jack?? The CSR said a notification was sent in Dec for the jack in March. It stated you could write a letter to plead your case I guess for them not to jack the rate, said I still could. I asked if it was an accross the board jack, she said no, a credit review/score and acct history jack.
Re: Re: ratejacking I asked if it was an across the board jack, she said no, a credit review/score and acct. history jack. IrishEyes ===============Don't you just love evasive answers like this that still leave you with the question why did the rate get jacked.
Re: Re: What's the digfference betweem rate jacking and car jacking? :O) :O) :O) :O) :O) :O) :O) :O) :O) :O) :O) The car jacker uses a gun.
