interest rate doubled

[adevine]

What is the name of your state? IN

After we sold everything including the house to pay debts, we still owed some credit cards which were turned over to CA. The biggest debt was to MBNA. We left one card open and paid small amount each month. That card sold to MBNA about a year ago. We still pay on it each month, never late and never added any new charges. MBNA just informed us the interest rate would be doubled due to our credit. We have an option to write them and try to persuade them to keep it at the current rate. Should we do that or just accept the increased rate? Would it send up a red flag on the old account that we had that was turned over to CA and we have never heard from anyone about? Thank you.

 

[JETX]

"Should we do that or just accept the increased rate?"
*** Since you can't seem to make up YOUR mind and want us to do it for you.... I say, pay the higher rate.

"Would it send up a red flag on the old account that we had that was turned over to CA and we have never heard from anyone about?"
*** Sorry, but I just had to send my crystal ball out for cleaning. Hopefully, it will be back on Tuesday. Please wait until then and I will be glad to tell your future.

 

[adevine]

Jetx,
I am sorry to ask such a frivolous question in your eyes. I really thought that someone with a lot of knowledge in this area would know if such an inquiry would send up a red flag as I have read in other answers on this board. We are trying to pay all our debts and I was serious if you wise people would consider it smart to send them a letter as they proposed.

 

[JETX]

You might be better served to post your questions as to credit practices over at a forum like www.www.cardreport.com or www.creditinfocenter.com/