Who can we write to in order to stop this?
They are raising rates before the 2010 law kicks in that limits this behavior.
Yes, credit card companies have all sorts of favorite tricks to get late fees...like constantly changing due dates...Chase due dates always seem to fall on a Sunday to prevent you from making a same day payment.
The only thing you can do to stop it is stop using credit cards.
You could negotiate with them and threaten to transfer your balance to another card, or you could actually transfer balances, but in the end they can raise your APR and your only options are to pay the new rate or move the debt to another account.
The card holder agreement you signed gives them the right to change your APR. Its one of MANY reasons I don't use credit cards.
you probably have the option to opt out of the rate increase. This action will likely close your account by default though. You can call and complain. It has worked for some people. Wouldn't hurt to try.
No. If you have a balance they can change your interest rate based on how you use the card and make payments. Their is nothing you can do about it.
You can blame the nutbag in the white house for this. All the credit card company's and changing there rated before the new credit card reform act that BO passed is enacted.
Just opty out
People who want to discuss politics should go to that section of YA, nobody else wants to hear your opinions and views, this is CREDIT.
Just opt out. Close the card and you won't be subject to the new rates.