Got interest rate change letter

iVillage Member
Registered: 12-21-2004
Got interest rate change letter
7
Sun, 08-23-2009 - 3:48pm

I just opened up my Wal-mart bill and my interest rate is going from 15.87% to 22.9% effective July 1, 2009 (at least that is what it says at the top) don't know how that can be because the statement was in the August bill - it also says that the due date is shortened to at least 23 days after the close of each billing period.

iVillage Member
Registered: 11-17-2007
Sun, 08-23-2009 - 9:33pm

Get a better deal and transfer the money out or opt out which ever you can do because they have messed you up already credit wise. You should never owe more then 30% or 50% of the limit on a card They got you owing 100% of the limit. If you don't give them at least the amount of the interest this month more then the payment they are going to get you for huge over limit fees to boot. That is coming One of my credit cards tried to do that to me and I got the money transfered the next day to another card.


Getting the money transfered is the best thing to do then just trash the card but leave the account run for its history But if the limit is less then 1000.00 you can always just cancel the account because they did what they can do

iVillage Member
Registered: 12-21-2004
Mon, 08-24-2009 - 6:38am

There's not much chance of me getting another credit card so a transfer to another card is actually impossible.

iVillage Member
Registered: 12-21-2004
Mon, 08-24-2009 - 7:08am

I have the letter typed but I have decided to wait and mail it this afternoon because I want to see if anyone has any idea of how I could handle this better.


Thanks!




Edited 8/24/2009 7:17 am ET by gal_jasper
iVillage Member
Registered: 08-19-2009
Mon, 08-24-2009 - 8:47am

I understand how you feel.

iVillage Member
Registered: 08-04-2008
Mon, 08-24-2009 - 9:49am

I have been opting out of all the increases this year and closing cards.




iVillage Member
Registered: 11-17-2007
Mon, 08-24-2009 - 10:22am

Chase sent me a letter the other day to about interest rate going up on them The card is in my name and I don't owe anything on it so I pretty much filed it away.


But you are not alone in this. Try for a Kroger card Even if it is Kroger card you can use it anywhere and they don't seems to care about your credit so much.


I am sorry I could not be more help We are all in this together. And it is going to get worse.


Mary Ann


iVillage Member
Registered: 12-21-2004
Mon, 08-24-2009 - 6:42pm
Well - I mailed the letter certified this afternoon - so I guess that I won't have to worry about using that credit card again.