Complaint Review: Bank One - First USA

I too was supposedly sent the same letter in Spring of 2003 about the raise in my interest rate and the ability to "Opt out". I never got it. My original rate was approx. 10.99 percent 5 years ago and now it is 21.99%. It was nearly doubled!! I have never paid late in the last five years, but did pay early once (bill pay sent payment too early) and was counted as not paying a month, which I promptly made a payment putting me ahead and they punished me by lowering my credit maximum amount by $200.00. I too had a Platinum card.

The flaw in my credit happen during a divorce four years ago. They waited until I had a large balance before lowering the axe. I called the company and got no where. It appears they are trying to force consumers to file bankruptcy!! My interest is $320.00 a month. I am currently seeking professional advice and/or legal counsel. I feel that this has been calculating and very deceitful. I have found no where on my original contract that said they could change my interest rate so high and all at once. If the consumer knew that - no one would continue to charge up on these Platinum "rip off" cards. I had heard of people paying late and being raised, but not in a case like mine.

I AM Pissed!!!!!!

Kris - Arlington, Texas
U.S.A.

Kris
Arlington, Texas
U.S.A.