Well in this upsetting entry from GrannyDoc early last month, she (?) describes a letter from Citibank regarding how they a) lowered her credit limit, and b) raised her interest rate in spite of her zero balance and sterling payment record. I thought about it a lot when I got two of my own versionss of that letter, one for each of two credit cards.
(RickD got a similar letter and had a similar take on it.)
My credit isn't the best (medical stuff I didn't pay, dummy me) but my payment on these cards was perfect. Each letter was very similar to the one GrannyDoc got, with one major difference being they didn't change my limit.
I was going to send in my written responses declining the rate increase, but other issues got the better of me and I forgot. I have balances of 4K+ on one and 6K+ on the other. But today, while paying bills and being reminded of the changes that kicked in this month, I called the bank and had some pretty positive results that I will share below the fold.
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