- Report: #69331
Complaint Review: Bank One - First USA Credit Card - Wilmington Delaware
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Author Not Confirmed
Why?
Bank One - First USA Credit Card
PO Box 8650 Wilmington, 19886 Delaware, U.S.A.
Phone:
800-955-9900
Web:
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Bank One/First USA Credit Card raised my interest rate to 19.99% even when I pay on time! Ripoff! Wilmington Delaware
As I looked at my credit card statement from Bank One I see that my rate that used to be in the single digits (8.99) is now a whopping 19.99%.
So, I called to inquire- I was told that a letter was sent, (I never saw this letter) and due to a random check of my credit after all these years,they have decided I am a risk (mind you I have not been late for any payments to them or any other creditor that they can report to me so why?
Well, no one call tell me. I asked to speak to a supervisor who told me the same thing, the letter that was sent (I did not receive ) gave me an option to opt out, since I didnt, I supposedly 'agreed' to the new rate of 19.99. There must be some kind of law or regulation about this sort of thing. If not, there should be.
Janet
Barker, New York
U.S.A.
So, I called to inquire- I was told that a letter was sent, (I never saw this letter) and due to a random check of my credit after all these years,they have decided I am a risk (mind you I have not been late for any payments to them or any other creditor that they can report to me so why?
Well, no one call tell me. I asked to speak to a supervisor who told me the same thing, the letter that was sent (I did not receive ) gave me an option to opt out, since I didnt, I supposedly 'agreed' to the new rate of 19.99. There must be some kind of law or regulation about this sort of thing. If not, there should be.
Janet
Barker, New York
U.S.A.
1 Updates & Rebuttals
Kim
Thornville,Ohio,
U.S.A.
Ripped off in Ohio by Bank One Visa
#2Consumer Comment
Thu, December 04, 2003
I too was supposedly sent the same letter in August about the raise in my interest rate and the ability to "Opt out". I never got it. My original rate was 9.99 percent 5 years ago and now it is 24.99%. I have an excellent credit rating and have only paid late 2 times in five years (not over 10 days at that). They ran my credit and even though it is awesome, my balances are too high and I am considered high risk. My interest alone on this card is $410.00 per month. I can't afford to pay them anymore but don't want to ruin my credit. What should I do? It will be hard to transfer balances to another card. I have a $20,000 Platinum card. I called the company several times to no avail. Isn't there something we can do? I would love to file bankruptcy and tell them to stick it but hate doing that to my credit. Help!!!!!!
