nwr credit cards

lilpiggy742 Posted: Jul 05, 2009 11:36 AM

nwr credit cards

so i check my statement online and my interest rate was raised 7%!!!!!!!!!!!! WWWWWWTTTTTTFFFFFFFFF!!!!!!!! So i called them b/c thats ridiculous and they say 'well we had to raise it because of the economy blah blah blah' yeah so the ceos who got bailouts and million dollar bonuses didn't seem to be affected b/c we have to pay for it. I think i'm gonna have to pay it off and close the account. I was hoping to have it for wedding emergency things but at 17% no f-in way. GRRRRRRR

MrsCM Posted: Jul 05, 2009 11:46 AM

Re: nwr credit cards

That's such b u l l though because the federal interest rates/national prime rates keep dropping so that they don't raise it for consumers and they are making soooo much money (yes to keep from going under) but it's not going to the government it's such ugggghh it annoys me. we pay off our cards each month (other than one 0% wedding card but it's still so annoying how they take advantage.

kimmaymb20 Posted: Jul 05, 2009 12:02 PM

Re: nwr credit cards

pretty soon if that bill passes in congress the credit card companys can not raise intrests rates for no reason.

lilpiggy742 Posted: Jul 05, 2009 06:05 PM

Re: nwr credit cards

i'm wondering if i'd be better off tranfering my balance to a new card and closing this one, or just pay it off then close the account. I refuse to keep it open. What would be best????

Soon2bShea Posted: Jul 05, 2009 06:09 PM

Re: nwr credit cards

was it Citibank or Capital One? they both just pulled that on me! I pay on time, good customer...and they double the interest rate! w t f

i feel your pain

Soon2bShea Posted: Jul 05, 2009 06:10 PM

Re: nwr credit cards

Posted by lilpiggy742

i'm wondering if i'd be better off tranfering my balance to a new card and closing this one, or just pay it off then close the account. I refuse to keep it open. What would be best????

Never close a credit card account....it will end up hurting your credit. You will lower your available credit and lower your score. I would transfer it or pay it off and just let it sit there at a $0 balance.

lilpiggy742 Posted: Jul 05, 2009 07:48 PM

Re: nwr credit cards

Posted by Soon2bShea

Posted by lilpiggy742

i'm wondering if i'd be better off tranfering my balance to a new card and closing this one, or just pay it off then close the account. I refuse to keep it open. What would be best????

Never close a credit card account....it will end up hurting your credit. You will lower your available credit and lower your score. I would transfer it or pay it off and just let it sit there at a $0 balance.

ooooh ok..then i'll just pay it off and not use it :)

and it's capitalone

StaceYums81 Posted: Jul 05, 2009 07:51 PM

Re: nwr credit cards

Its a bunch of crap. I believe though you should get letter in the mail stating the changes and if you don't agree you can close the account and pay it off. They shouldn't just be changing it without telling [people

FallBride2010 Posted: Jul 05, 2009 07:53 PM

Re: nwr credit cards

The same thng happened to me...but even worse. My interest rate was 27%!!! I didnt even realize right away. I just transferred it to a lower interest credit card

Spring143 Posted: Jul 05, 2009 10:02 PM

Re: nwr credit cards

you should look for zero percent for x amount of time and close out the account. Unless its an account that you feel is important to keep open than i would close it out.
sounds like you dont have a fixed rate. That may work better for you