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has this happened to anyone else?
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Posted by Dee on August 30, 2001 at 00:10:22:
I have an account with AT&T Universal Card Services which I've had since 1997. Last January I transferred a higher interest rate balance to them because they offered a one year 6.9% rate. This month I noticed that my rate was suddenly upped to 16.75% with no explanation whatsoever. When I called them to find out why they stated that while doing a credit report check it was determined that I had been more than 60 days past due twice with another creditor. Although this was not true the fact that I had a perfect payment record with them for four years didn't seem to make any difference. They were willing to lose my business completely to gain what amounted to about $200 to their benefit. I was completely appalled at this practice. They "graciously" offered to put a 4 month hold on the increase until they checked the report again and determined that the problem had been cleared up. They've already alienated me and I am shopping around for another credit card. I also went online and checked my equifax and it was completely clear with no delinquincies whatsoever. Needless to say this has left more than a bad taste in my mouth. What kind of recourse do we have over practices like these??? How is it that they can make these decisions based on not only false information but on other accounts that have nothing to do with them?? Especially since my record with them was spotless. Why would they even feel the need to check me out if I had had no problems with them. They make you feel like a criminal even when you've done nothing wrong.
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