My monthly interest accumulation increased this month from $225.56 to $249.34. Why you ask? Because the interest rate on my Keybank card increased from 7.99% to 12.99%. That made my interest charge jump from $55 to $96. Ridiculous! Supposedly I received a notice with one of my statements that this would be happening, but I never read it. So lesson learned: read the crap that comes with your credit card statement. I was able to get the Keybank representative I reached by phone to reduce my rate to 10.99%. Now that my Sears balance has been reduced, I think I will spend some time focusing on Keybank so I can get that monthly interest charge reduced. Ugh.
Nasty credit card tricks
July 13, 2008 · 1 Comment
Categories: status updates
Tagged: credit card company tricks, credit card statement, interest rates, Keybank
1 response so far ↓
Kate // July 14, 2008 at 2:17 am
Way to go! Would you be surprised that over 95% of credit card users who get hit with increased rates never go back to the credit card company to negotiate rates? You did the best thing possible to preserve your money. Kate