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Originally Posted by timmgirvan
Everybody has/or uses credit cards to some extent, conservative or liberal.
the blatent point is that THEY arbitrarily raise their rates even to the best of customers....plain simple abuse to their cardholders.
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And they won't be able to in another month. So call them, be aggressive, demand the rate you want, and if it doesn't work fire them, keep one card.
And after the new legislation takes effect shop around, you should get some great deals - and no "entry rate then we screw you later in the fine print when you don't notice" , because it will no longer be permitted by law
No giving you a notice that "suddenly starting two months back your interest rate rose". No moving the billing due date around on you so you'll miss it and incur overdue charges. No applying high interest rates to the oldest balances obtained under a lower rate.
It's good legislation. Just hang on through the final temper tantrum of the credit card issuers, because YOU'LL have the power, not them, in another month or so when the legislation takes effect.