Juniper Bank Complaint - Changing Interest Rates
HOUSTON, TEXAS -- I saw 2 bad reviews about Juniper here and decided to add my story. I have been a customer a good while with them and have a MasterCard with a FIXED rate of 6.9%.
I noticed on my last statement my rate was 8.25%?!?!? I called them- they said they sent me a notice 60 days ago letting me know my fixed rate card had been changed to a prime + 1% card.
They assured me this had nothing to do with my credit- just that the prime rate has risen above my fixed rate! Good for me.. right? wrong! Why didn't they offer me a prime + 1% card when the prime rate was 4%????????
I know in in the terms of service we all agree to it says they can change it to what ever they want.. but I think its bad business!
I know there may be some that say prime plus 1 is a good rate on a credit card.. and I would have to agree but its more then what I was paying before.