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neoflex · 03-10-2010, 03:35 PM

My bill pay through my bank took longer than usual paying my cc bill last month, so I got a nice letter saying that my interest rate will be raised 3%. So I called asking if they could waive the interest hike because I am always on time and my bill pay took over a week to transfer the funds last month when it usually takes much less time than that to transfer. They said because of the new law they couldn't just reduce my rate. I called BS but not in those words, and said yes, they needed to now notify me of increases which is why I am now speaking to her but unless I missed something on the new law I don't see why you can reduce my rate back to what it was previous. I asked whats the problem, I pay my balance in full every month so you decided to not waive my increase in hopes that I do carry a balance or become late again and you get to finally make some money off of me? She decided to waive the late fee but refused to do anything about the interest rate. I guess being a loyal customer for over 7 years means nothing so I will investigate the many other offers I get weekly in the mail offering much lower interest rates and take my business elsewhere. The best part of the phone call is after I called BS on them not being able to lower my rate she said that because of the economy I should be happy to get the late fee refunded. I guess that's what I get for being responsible with my debt and paying the balance in full every month. The woman I spoke to before I got to the supervisor said because of my history they wouldn't be able to do anything about my interest rate and I asked, What do you mean by my history, I have only been late one other time in 7 years and that was over three years ago and my balance gets paid in full just about every month so what about my history is negative? That's when she stopped fighting transferring me to a supervisor and put me on hold. You would have thought I called cursing and screaming like a lunatic but I was believe it or not very calm and polite and they still spoke to me like I was a homeless guy asking them to spend the night at their house. Got to love the way they treat long term loyal customers.
So did I miss something in the new law or were they totally full of shiz about not being able to lower my rate back down to what it was previously?

03-10-2010, 03:35 PM	#7
neoflex I'm nuts for the place Join Date: Nov 2008 First Name: John Location: Monroe, NC Posts: 2,765 Trading: (32)	Re: Credit CARD Act My bill pay through my bank took longer than usual paying my cc bill last month, so I got a nice letter saying that my interest rate will be raised 3%. So I called asking if they could waive the interest hike because I am always on time and my bill pay took over a week to transfer the funds last month when it usually takes much less time than that to transfer. They said because of the new law they couldn't just reduce my rate. I called BS but not in those words, and said yes, they needed to now notify me of increases which is why I am now speaking to her but unless I missed something on the new law I don't see why you can reduce my rate back to what it was previous. I asked whats the problem, I pay my balance in full every month so you decided to not waive my increase in hopes that I do carry a balance or become late again and you get to finally make some money off of me? She decided to waive the late fee but refused to do anything about the interest rate. I guess being a loyal customer for over 7 years means nothing so I will investigate the many other offers I get weekly in the mail offering much lower interest rates and take my business elsewhere. The best part of the phone call is after I called BS on them not being able to lower my rate she said that because of the economy I should be happy to get the late fee refunded. I guess that's what I get for being responsible with my debt and paying the balance in full every month. The woman I spoke to before I got to the supervisor said because of my history they wouldn't be able to do anything about my interest rate and I asked, What do you mean by my history, I have only been late one other time in 7 years and that was over three years ago and my balance gets paid in full just about every month so what about my history is negative? That's when she stopped fighting transferring me to a supervisor and put me on hold. You would have thought I called cursing and screaming like a lunatic but I was believe it or not very calm and polite and they still spoke to me like I was a homeless guy asking them to spend the night at their house. Got to love the way they treat long term loyal customers. So did I miss something in the new law or were they totally full of shiz about not being able to lower my rate back down to what it was previously? __________________