Complaint Review: Avdanta Bank Corporation

I contacted the company a few days ago after examining my interest rates as I have not been paying that much attention and learned of the insane interest rate increase of 37.18%. I asked to have the interest rate lowered. They refused and informed me I could try to get it lowered in 90 days. I have never been late, never missed any payments and always payed more than the minimun payment.

My introductory rate was raised from 7.99%, to 16.74% but in August of 2008 they increased it to 35.49%, then in Sept to 35.39% and Oct, 35.08%, Nov, 36.31% in Dec, 37.18% and effective as of Feb 4, 2009 he informed my it was now at 45.1%. This is so ourtragious I have few words. I asked if they could work something out and the person I was speaking to mumbled and talked so fast I could not understand him. I asked him to close my card.

Mpetersen
Magalia, California
U.S.A.