Bank One Complaint - Interest Rates Doubled++
I had two Bank One Accounts, a Southwest Airlines Visa and a Holiday Inn Priority Club Visa. Credit limits of $14,000 and $10,000 respectively.
I have kept both these accounts paid on time, paid more than the required minimum for the entire 3+ years I have had the accounts.
So imagine my surprise when a month ago I recieved my bill for the Holiday Inn card and they had more than doubled the interest rate from 13% to 29.9%!!! Their explanation was that my credit score was the reason. And they claim to have sent an advance notice which I never saw.
Fast forward 30 days and guess what? They wanted to pull the same number on the Southwest card.
Slight miscalculation, the fact that I have extensive assets in the stock market. Liquidated an insignificant percentage and paid the fools off.
So beware of the promotional sales pitches.
Their scheme is to suck you in deep to a point they think you will be unable to resist and then stab the interest rate knife in your back and twist it.
Not everyone will be as fortunate as I to have the resources to pay them off.
Don't be a sucker....
They are financial terrorists.....