Juniper/Barclays Bank Credit Card Complaint - Juniper/Barclays Bank Usury Practices
WILMINGTON, DELAWARE -- I was offered to acquire this master card for the low interest rate of 7% on a balance transfer promotion. So I transferred a balance from another card I had that was charging me 17%. I paid my bill on time and was never late. But then I began to notice that this interest rate was slowly being raised for no apparent reason. When I called them to complain, they indicated to me that since my FICO score had lowered they considered me a higher risk and raised my interest rate!! I was absolutely appalled and expressed my anger when I indicated that I had always paid the card on time and that this was NOT A FAIR practice. Their "consumer counselor" was very rude and stipulated that that was their practice at their discretion and that I when I agreed to acquire the card and signed their agreement form, I had no recourse. Pissed off as I was, I continued to pay my card. Well since then, due to this bad economy, our business suffered tremendously and we fell behind on our obligations. Juniper/Barclays waisted NO TIME and raised my insterest rate to a STAGGERING 30%!! I ended up being 60 days late on most of our cards and we were able to negotiate with ALL of our other credit cards and they wonderfully lowered all the interest rates BUT Barclays WILL NOT NEGOTIATE, even when my husband and I offered to bring the account to current and do a recurring debit out of our checking account for a set amount to pay off the card!!!! They said that they would only agree to MAYBE lower the rate if we paid the account current for 6 months to one year, but we would have to LIVE WITH the 30% rate!!! If this isn't usury to the endth degree, I don't know what is!!! Consumers PLEASE BE WARY OF THIS CREDIT CARD COMPANY'S USURY PRACTICES!! I will not stop until this type of practice is stopped!!! They are a rip-off bank and a big reason why people like myself and husband can't get back on our feet.