05-06-2009 06:01 PM
...Does anyone know why they would send me such a nice balance transfer offer in one envelope yet send me a HUGE rate increase on another of my accounts in the other. I do not need to use the accounts, however, I do find this very very odd. Anyone have any answers??????????????
05-07-2009 08:21 AM
05-07-2009 02:15 PM
I have read on here that "calling in" can cause your accounts to be closed. My solution to a 27.99% interest rate is just to never carry a balance.
I fully agree. I got my first RJ letter yesterday from US Bank, and I will continue to PIF that card every month until it is lowered to a more acceptable percentage rate.And like you, I do not plan on calling nor complaining. I figure at present its par for the course.
05-08-2009 06:03 AM
Thats how BOA operates. The card with a rate of 8.99 you hardly use and probably could be closed by them at some point for non-usage. I would try to keep it active to keep it open but this is something common with card holders. When I worked there I would see customers with many accounts that were with other lenders at some point in the past and their purchase rates and BT rates would be vary greatly. One other possibility is you are not the primary account holder. Many times people have a card with their spouse and think they are the primary account holder but are really an auth user but have no idea because the primary never uses the card.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.