I am just started to receive my statements and guess what, I have a NEW higher % rate, some up as much 5%. It seems that there is a law going into effect next year that says you can OPT OUT of your credit card and pay off the amount at the current rate. You can't use the card, just make the payments and pay it off. Well now FU, ALL THE CREDIT CARD COMPANIES ARE RAISING THERE RATES so that when this kicks in, they will already have their rates higher before the law says they can't raise them if you decide to cancel your card
. I had a LOWE'S Visa card with a 4.99% rate for many years and it just went to over 10%! There is no notice in advance that you will be getting an increase, JUST A FACT THAT YOU NOW HAVE A NEW HIGHER RATE. Suck it in and pay it is what they are saying. In this economy when we are all on the balls of our ass, they decide to stick it up there BECAUSE THEY CAN
. I have written to Bill O'Reilly and Glenn Beck at Fox News and hope to bring this topic to the surface. If you people can also try calling or email these guys, maybe something will get noticed, but if we sit on our asses and do nothing, THE CREDIT CARD COMPANIES ARE REACHING INTO YOUR WALLET AND GRABBING YOUR HARD EARNED MONEY AND NOBODY IS TRYING TO STOP THEM
! Plain and simple.