Quote:
Originally Posted by bossku69
They can just close an account and jack up the interest with no notice? After some digging around, seems like the reason is because of all the new credit card rules coming out today and in November, banks are trying to rape as much as they can before they have strict guidelines to follow.
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Actually - I dunno... I think you *may* still be able to fight on this one... (maybe not). Depends on how long ago they took the action. The new rules that went into effect today state that if they are going to raise your rate YOU have the option to opt out and close the account. AND - if you do, you are allowed to keep your old rate.
Definitely shenanigans, but if they've already closed the account on you, you have nothing to lose by fighting them.
CNN Money
(Just noticed you got the letter last week... but had already typed this up - so leaving it for anyone else getting raped after today. I'd still try to fight though)
