Re: Breach of Contract ?

Posted by michelle on October 06, 2001 at 12:17:03:

In Reply to: Breach of Contract ? posted by Phil on October 06, 2001 at 03:40:37:

I'd call the creditor first and ask them to correct their records, and resubmit the information to the credit reporting agencies.

I closed my Discover card account because they were about to increase my interest rate (and the fact that they tricky bastards add cash advance interest to the cash advance balance, so your buried high-interest balance keeps going up even when you don't take out more cash).

If you're going to close an account for this reason, always request a letter at the time you make the request. And if you don't get your letter, call back.

Incidentally, now the rate is fixed on this card, so it has not been affected by market decreases in interest rates. Soon as Greenspan decides we're on the upswing, I plan to close my other cards to fix their rates low. Good idea?

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