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Company Loan Type APR Est. Pmt.

credit card interest rates

Posted on: 02nd Dec, 2008 03:36 pm
Our credit card company (based in Utah) just raised our rate from 15.99% to 37.18%!!! We have never paid late, and have always paid over the minimum. Is this legal?? In our original agreement it says the interest will be the variable rate index + 1.74%
Hi beeclean,

Did you ask your credit card company the reason for raising your interest rates? I think you should speak to the credit card company about it and ask them to clarify. If there has been no fault on your part, then they shouldn't have raised the interest rates.

Thanks
Posted on: 02nd Dec, 2008 08:50 pm
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