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Punked By Nationwide

Frequent Contributor

Punked By Nationwide

I got a letter from Nationwide changing my interest rate from 7.24% to 15% and it changed due to economic conditions.

 

Gimmie a break - I got the card in the middle of the worst economic crisis in the last 40 years and 3 years later they want to increase the interest rate when times are better?     

 

It;s only a 6K CL and I rarely use the card because every time I want to make a larger ($3 to $4K) purchase they deny it.  Then I call in and they say "sorry" try now.   

 

What a tough company to get your hands around.  Its a card only good to go to McDonald's and I already have one for that Smiley Very Happy 

Message 1 of 9
8 REPLIES
Mega Contributor

Re: Punked By Nationwide


Scuba wrote:

I got a letter from Nationwide changing my interest rate from 7.24% to 15% and it changed due to economic conditions.

 

Gimmie a break - I got the card in the middle of the worst economic crisis in the last 40 years and 3 years later they want to increase the interest rate when times are better?     

 

It;s only a 6K CL and I rarely use the card because every time I want to make a larger ($3 to $4K) purchase they deny it.  Then I call in and they say "sorry" try now.   

 

What a tough company to get your hands around.  Its a card only good to go to McDonald's and I already have one for that Smiley Very Happy 


Time for the sock drawer.............

 




EQ FICO 548 3/3/16
Message 2 of 9
New Contributor

Re: Punked By Nationwide

Yea, sock drawer for sure.  Since you don't use it that much anyway, you won't be missing much.

Amex BCP 25k '11 - Amex PRG '11 - Chase Sapphire 17.5k '95 - Citi Platinum Select 11.5k '93
Message 3 of 9
Valued Contributor

Re: Punked By Nationwide


Scuba wrote:

I got a letter from Nationwide changing my interest rate from 7.24% to 15% and it changed due to economic conditions.

 

Gimmie a break - I got the card in the middle of the worst economic crisis in the last 40 years and 3 years later they want to increase the interest rate when times are better?     

 

It;s only a 6K CL and I rarely use the card because every time I want to make a larger ($3 to $4K) purchase they deny it.  Then I call in and they say "sorry" try now.   

 

What a tough company to get your hands around.  Its a card only good to go to McDonald's and I already have one for that Smiley Very Happy 


Do you have a letter that has the exact wording?  That wording doesn't strike me as something you would see in a notice to increase an APR and I think we could offer better insight with the exact wording.


In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 4 of 9
Frequent Contributor

Re: Punked By Nationwide

I will dig out the letter and type it in here tomorrow.  I don't have the skill set to have it scanned in.  Economic conditions, gimme a break.

Message 5 of 9
Mega Contributor

Re: Punked By Nationwide


Scuba wrote:

I will dig out the letter and type it in here tomorrow.  I don't have the skill set to have it scanned in.  Economic conditions, gimme a break.


Smiley Very Happy

 




EQ FICO 548 3/3/16
Message 6 of 9
Valued Contributor

Re: Punked By Nationwide

I just got my letter today--increase from 7.24% to 13.24%. Chumps.

Message 7 of 9
Valued Contributor

Re: Punked By Nationwide


Scuba wrote:

I will dig out the letter and type it in here tomorrow.  I don't have the skill set to have it scanned in.  Economic conditions, gimme a break.


At least you have a sense of humor about it!

 

If MrShush had the same problem, I'm interested to see if it happens to others. 


In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 8 of 9
Established Contributor

Re: Punked By Nationwide

Oh, I got one of those letters from Barclay.  I found it the other day when I was cleaning, and I could not believe the wording (it was from about 1.5 years ago).  They said that due to the economy and also as a result of reviewing my credit (I had high utilization), they were adding an annual fee to my card, but the consolation prize was that there was now a 1% cash-back feature.

 

(rolling eyes.)  Barclay is a weird, weird bank.

_________________________________________________________
Too many accounts; too many debts; lots of open credit, and lots of utilized credit. Scores somewhere in the 600s - I have no earthly idea exactly what number, but not 700 like it was, briefly.
Message 9 of 9