FIA Card Services Complaint - Predatory Lender - Credit Card
GRAND RAPIDS, MICHIGAN -- Two years after opening a 9.9% APR credit card through Edward Jones, my husband and I found ourselves in financial difficulty due to severe illness. I thought that canceling most of our credit cards was a prudent thing to do given the circumstances. Immediately after canceling this card the interest rate shot up to over 25%. It was then that I discovered that MBNA was the actual lender and since they had nothing to lose, they upped the rate. I have been paying $150.00 per month on a 6,000 balance for two years now and have not reduced the balance at all.
If anyone has a suggestion on how to get this rate lowered or some institution that can intercede on my behalf, please post it here. There is simply no way to pay this down, given our situation.