interest rate on credit card

[recycbride]

What is the name of your state? ohio Have had this particular card since 1984 and has always been paid timely---No adverse credit on credit report---They have raised interest rate on it to 23.99%---Cannot get any answers to why--Any suggestions on how to go about getting rate lowered or, is there anything I can do to find out how/why they could have done this?

 

[bigun]

Ask them for an adverse action letter. ALso, take a look at the totality of your situation. Are you running large balances or, have cards with balances near the credit limit?Have you gotten any cash advances from this particular creditor lately? The average concumer uses only 22% of the credit available to them. Where are you in relation to this number?

 

[I AM ALWAYS LIABLE]

What is the name of your state? ohio Have had this particular card since 1984 and has always been paid timely---No adverse credit on credit report---They have raised interest rate on it to 23.99%---Cannot get any answers to why--Any suggestions on how to go about getting rate lowered or, is there anything I can do to find out how/why they could have done this?

My response:

When did you first notice this - - when you received your billing?

Do you recall throwing out those envelope inserts you received with your last billing? There's your answer.

What can be done? Cancel the card and have your balance transferred to a lower interest card - - and from now on, read those inserts.

IAAL