You'd think after reading these forums and seeing this so much, I'd have lost my capacity to be disgusted by such practices that lead me to think about words like "usury" which, I might add, if you check your thesaurus, are synonyms of the words "exploitation" and "stealing." Maybe I just think too much.
I'm sorry this happened to you too.
No, maks, I actually do agree with you, from the practical perspective; I do understand that these banks have to manage their risks in the best way they can... I really do get that it's just a business decision, not a personal judgment.
I would rather banks not be able to change rates on existing purchases. They should only get the chance to underwrite before the purchase, not after.
It's not usury. It's aggressive risk management. Chase and Amex are more aggressive than others. Let me ask you a question this way, would you like banks to conduct business as if it was still 2006?