Nov 19
I have had a credit card with 7.9% interest rate for 5 years. I pay automatically through my bank each month and I honestly haven’t checked my statement since February. So, tonight when I looked at it my Jan. payment was late, I am not sure how, and my interest rate went up to 24.9%. My finance charge is now 150 a month compared to the 40 previously. Is there anything I can do, I cannot afford to pay that amount in finance charges. I am so upset right now. HELP. I tried calling and they were transfering me to another department and we got disconnected. I am planning on calling back tomorrow. Any suggestions on what to say to them
wow…definetly call the company again. it sounds like there has been a huge mistake, or like you card info. was stolen. this could ruin your credit- so don’t back down if they are being…difficult.
the bank may have screwed up too, so be sure to contact them. if there was a huge or out of the ordinary charge, they may not have sent the payment, or may have frozen your account.
explain that you had an auto withdrawl, so there must be some miscommunication.
also, being late once on a payment should not have hiked your rates that high- ask what is going on there.
Well I know exactly what happened to you. The 7.9 is a really low rate which is unusual for a credit card unless its their welcome rate. Which means if you apply for this card they will give you a welcome rate of this low percantage and then after 3-6 months they will increase their rate to whatever they feel like. There is nothing you can do but cancel your card and try something else but the best way to do it is to pay your card of before the bill comes therefore you wont pay any interest. Good luck
if your credit is good enough to obtain a 7.9 card you better damn well bet that another company will take you easy so… call them tell them they made the mistake not you
Credit cards have a habit of moving due dates around. That is probably the reason for the late payment. It is important to stay on top of things like this.