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Cap1 interest rate
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Posted by ann (216.120.137.241) on July 30, 2004 at 12:26:58:
All my bills are current and there is nothing bad on the credit reports that I pulled 2 weeks ago. Paid off 40K in debt when we got an insurance settlement in April. Only have 4 active cc's and we pay early and more than minimum.
So I go online yesterday to pay Cap1 and find they have decided to raise the interest rate from 8.9 to 14.04. The rate was to be fixed for the life of the balance transfer when we got the card. They never notified me of the change. I called them - got the run around that It was either due to my payment history, card usage or credit report. The customer rep was confused - his records didn't show anything but an excellent record for payments and no other activity. They would not put the rate back to what it was. They would only reduce it to 9.9%, if I would make a balance transfer of at least $500. to pay on another account. Asked for a supervisor - no change. Asked for a manager - he would only drop it to 12.99%. They did some review and decided to hike my rate. Funny they didn't bother to say anything to me about it - hoping I wouldn't notice?
Told him I wasn't going to play their game. I'm done.
Called Citibank and transfered the balance to them for 4.99% for the life of the balance. Now I'm waiting for everything to go thru - then I'll tell Crap1 to go piss up a rope. All future mail from them will be shreaded and sent back at their cost in their postage paid envelopes.
Is this the way to treat a good customer? What is going on?
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