Lowe's Complaint - Lowes Credit Card Up's Interest Rates But Gives "Opt Out"
Been doing business with Lowes for years. Always paid on time.....always met special zero interest payments at end of promotion. Got my recent bill and was advised that the interest rate was going up..........over 2 percent. But the catch all rip off was that I could opt out and close my account with Lowes and continue with the current rate. Seems that Lowes would not want to loose customers..........as I will be taking the opt out.....! Sad that it appears Lowes does not know what their CC issuer is doing to it's customers and the back fire it will cause Lowes.
I expect many to close out the card as this is the only opt out option to not get a higher interest rate from GE MONEY Bank. I would invite all to email Lowes and complain about this practice that has just started.