I’ve got the ain’t got no credit card low down blues

Yup, I canceled my single credit card. The one I canceled all my other cards because they had stinking rates, but this one had a low fixed rate card. The reason? For no apparent reason, they decided to change my rate from fixed to variable. Not only that, but prime rate plus 12%. Excuse me? I have had perfect payments on all accounts since time began, have an excellent credit rating and you’re going to stick me with WHAT?

My husband, who has the same type of card (his credit rating is about 10 pts higher, due to having a car loan I did not have), did not get one of these letters. His card is fine.

Not that I used my card much. However, it is nice for certain things, say like the refrigerator we’re going to have to buy here pretty soon. Or a new washer and dryer within the next few years….sigh. Or a nice outfit or clothes for Keeley if I don’t want them to come directly out of our account…

The lady did tell me that if I did qualify for a lower rate that I’d start getting spam receive offers in the mail. How nice. There was a way I could fax a letter to a group (no phone number) to find out why they wanted to change my rate in particular. My only guess is that it didn’t hit their minimum usage level (I remembered to use it about every other month) so they decided I wasn’t worth keeping on at the lower rate. Too bad, that fridge we couldn’t have paid off in one fell swoop, so that would have been some nice interest in their pockets..now we’ll have to either buy used, put it on my husband’s card (which means they would get the interest anyway), or just make sure we have enough savings left after closing to finish paying for the fridge.

One Comment

  1. I canceled a credit card this year for the same reason. It was the only one I had that was in my name, so I really need to get another so I have a viable line of credit that’s mine specifically.

    Pisses me off that they can just decide to screw people and we have to take it, even if we didn’t ask for the screwing.

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