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CC Change in Terms

October 18th, 2006 at 05:04 pm

DH got a notice of change in terms tonight in the mail. From what I understand, APR on one of his CC will go from 17.15% to 27.99% (WOW!). Only reason stated: "The changes are based on a careful review of your credit history with us and with others."

Is there any way to dispute that and to get what was already a high APR back to that same level?

Posted in CC & Debt | 4 Comments »

4 Responses to “CC Change in Terms”

  1. frugalmomof1 Says:
    October 18th, 2006 at 05:11 pm

    I would call and ask for a lower rate. I have done this in the past and usually can get a lower 'promotional' rate for 6 months or so.

  2. ren Says:
    October 18th, 2006 at 09:45 pm

    What Frugal Mom said -- call and ask. If the first person you talk to says no, call again.

    Also, if your husband hasn't pulled his credit report lately, now might be a good time to do so. If there haven't been any significant changes lately, I would absolutely ask what on Earth they were basing the decision on.

  3. Lau Says:
    October 19th, 2006 at 07:34 am

    FrugalMom - I will tell him to do that today...

    Ren - We just got a home loan (with a prime lender!!!), so I don't know what's in his report that looks so bad all of a sudden.

  4. Champion Cheapskate Says:
    October 21st, 2006 at 01:06 pm

    Hopefully by now you have peacefully resolved the issue. If not, ask to speak with a supervisor. Another thing, be sure to review all of your records. . . next step, you may want to check your credit report. Don't want to alarm you, but some nasty things can sneak on it. It will probably work out fine with a quick call. Good luck.

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