Suzanne
Ada,#2Author of original report
Thu, July 01, 2004
For whoever is interested...after mailing all my letters to the organizations mentioned above and mailing the CEO of Bank One a certified letter receipt requested I got a response. The BBB called and told me they were handling this claim, and Bank One called yesterday and told us they received the notice from BBB and was going to handle this problem. Today...my email from Bank One indicated they were pleased to inform me my interest rate would be returning back to the 5.4%. Yeah! Now I will have to wait until my next statement to verify that this was actually done. Thanks for everyone's suggestions...
Rosemarie
Mesa,#3REBUTTAL Individual responds
Fri, June 25, 2004
Remember to keep in touch when and if you hear anything. I also have had problems with this Bank. Funny thing they left my husband alone. He has 2 accounts with them also a checking account and some kind of insurance on both charges. I am thinking this is his savyer. I on the other hand have Great credit never missed a payment never went over on my limit, my only draw back is exceeding in credit. You go Suzanne, and please give us the feed back need to see what I can do, PS your lucky..I started out as 13.24% and they jacked me up to 24.99% and I never saw it coming...I am now in the process of refinancing my home and paying the bloodsuckers off 15,000.00 (after 9 months of calls, crying, and hives...) keep in tough
Robin
Waldron,#4Consumer Comment
Wed, June 23, 2004
You have just learned one of the most bitter lessons out there about credit cards and interest rates...THERE IS NO SUCH THING AS A "FIXED RATE"! And there is certainly no reward for being a good customer. Good customers get these rate increase notifications. They can "adjust" your rate any time they choose! After years of issuing credit cards to cats, dogs, twelve-year-olds, deceased people, and space aliens, the piper must now be paid. Record numbers of people are filing bankruptcy on these credit card companies because cards were issued to people who should not have had them in the first place. Coupled with the bad economy and lack of job security these days, many people have lost their jobs. It has hit credit card companies hard in their pocketbooks. These companies are not going to let their profit margins fall, so the onus of keeping the profits up falls increasingly on the shoulders of the good customers. Those good customers are now the "profit drones" for all credit card companies. Do they appreciate you as a good customer...NO! You are now the workhorse for them and their greed. You will be asked to pay the bill for their excess. I think you have contacted a reasonable number of agencies and government officials to get your cancellation request approved. Have you received any feedback from any of those you contacted? If not, you might try the FTC as well. I look for this to become more and more common; "Gee, we did not receive your cancellation request in time". I would suggest that everyone mail these Certified mail with Return Receipt Requested. It seems as though consumers are being forced to cover themselves more and more these days. Pay off your balance ASAP and dump these "credit traps" and let them go belly-up. Good luck.