I wrote the other day about some credit card interest rates mysteriously increasing. I was contacted by another blogger who would like to talk to some of you affected by this:
Hi, it’s Kim Palmer from the alpha consumer blog (www.usnews.com/alpha). For an upcoming article, I am looking for credit card users who recently experienced fee or interest rate increases. If you are willing to be in the story (and for me to use your name and experience), please email me at email@example.com.
If you feel like sharing your story and perhaps even venting a little to Kim, shoot her an email.
Interesting opportunity, but I don’t carry any balances on credit cards.
I don’t like the idea of my name being used because that puts a target on your back. Lately though Bank of America and Capital One have been jacking APR 2-3x what the normal rate used to be. If you send a letter, given they accept it, that you decline this increase, it will stay what it is but you cannot use it or you’ll get the new rate. Alternatives of course would be to pay it off if you can or use a balance transfer. These banks went through a lot of mergers and I have a feeling they are broke and need their money back. One way or another they’re going to get money out of you sooner than later.