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APR ON CREDIT CARDS
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Posted by PATRICK C (64.12.104.47) on March 21, 2002 at 16:58:05:
I HAVE A CC WITH PROVIDIAN. ALTHOUGH IT WAS NOT PERFECT AT THE TIME I FIRST RECEIVED MY CC, MY CREDIT IS NOW EXCELLENT. I RECEIVED AN INCREASE IN MY LINE OF CREDIT 4/01 AND WAS TOLD THEY WOULD ALSO LOWER THE APR, WHICH THEY DID. THEY HAVE NOW RAISED THE APR ON MY CC BY 10 POINTS. I HAVE NOT BEEN LATE OR GIVEN THEM ANY REASON FOR DOING THIS. THE ONLY EXPLANATION I RECEIVED WHEN I CALLED TODAY WAS THAT THEY ARE ALLOWED ACCORING TO THE TERMS ON THE BACK OF MY STATEMENT. THIS CERTAINLY SEEMS UNFAIR AND UNETHICAL FOR GOOD CUSTOMERS. COINCIDENTALLY, THEY WAITED UNTIL I WAS NEAR MY CREDITR LIMIT TO DO THIS. IT CERTAINLY APPEARS THAT THEY ARE GOUGING ME WITHOUT JUSTIFICATION. OTHER THAN TRANSFERRING A BALANCE TO ANOTHER CARD OR PAYING THE BALANCE OFF BY OTHER MEANS IS THERE ANYTHING I CAN DO ABOUT THIS? THANKS PATRICK
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