Re: Credit card rate increase

Posted by kelly from nevada (152.163.189.170) on November 11, 2002 at 00:21:52:

In Reply to: Credit card rate increase posted by Emerald on November 10, 2002 at 23:43:11:

Emerald , i too have a providian account & they did the same thing to me by raising my rates to about that same rate as yours , i have a 7200 credit line & owe them maybe 400 & have NEVER EVER even missed a payment in my roughly 5 yrs with them .. can they do this you ask , answer is YES , can you do anything about this you also ask , answer is YES " but " that would be in by paying off your card an cutting it up but thats about it really otherwise nothing you can do at least that i know of .. in our billing statements on all credit cards we get every month if we have a balance they sometimes will include "amending agreements" that notifies us that the banks changing terms in the card agreement & gotta be honest prolly OVER 90 % of us never read those agreements so thats how they get away with it & by applying for the card we accept them doing this at anytime becouse we agree to it .. in the last year MOST cardholders from MOST bank were notified just in this way that were now bound by binding arbitration in meaning we gave up ALL our rights to go into ANY court if we default on the balance to where they can simply get a judgement by TOTALLY by passing the courts & simply asking an arbitrator for a judgement , a bit more in detail but really not much cause we gave away all our rights & MOST of us dont even know this but thats A WHOLE NOTHER STORY .. kelly ........

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