extortionist interest rates

Posted by Jade (216.130.15.9) on June 13, 2002 at 14:05:15:

I just got a notice that one of my CCs is changing their terms....basically raising my interest rate to 18.25% plus the prime rate. It will never be below 22+% and according to the prime rate at the end of May, it will actually be 23%. I am planning on sending them a letter refusing their extortionist rates, so they will be cancelling the card. But, I will be able to pay off the remaining balance under my current terms, which I assume includes the current, lower interest rate, correct?

I have to notify them, in writing, by July 23rd. Should I send this notice to them CRRR? I don't want them saying they never received a notice, but I don't want it sent back because they refused to sign for it either.

Thanks!

Follow Ups:

• Re: extortionist interest rates Marcy 06/14/02 (0)
• Re: extortionist interest rates Interested party 06/13/02 (4)
  • Re: extortionist interest rates Jade 06/13/02 (3)
    • Re: extortionist interest rates Linda 06/16/02 (0)
    • Re: extortionist interest rates Anonymous 06/15/02 (0)
    • Re: extortionist interest rates Interested Party 06/14/02 (1)

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