Money, Credit Cards, First USA Visa interest rate increased from 9% to 13%

Complaints.com received the following e-message on February 4, 2001:

From: Nichele W. Jones [Email User]

RE: First USA Visa

I am a current cardholder and received information in my statement that

my fixed rate card was going up to 13.9% variable.

I called and they told me

that the company had chosen to do this and there was nothing they could do

to retain my fixed rate of 9.99%. I explained that I had been a long term

card holder, on time and that I had offers in front of me to change. Of

course these are introductory 2.9% and Fixed 9.99% after the introductory

period of six months. They still didn't budge.

To change is not the big issue. The problem is how many people out there

don't really go through their statement and find out too late that their

rate has gone up??? Some individuals are not as finance savvy as others.

I fear that this might leave them to be taken advantage of. First USA and all

other credit card companys should have to advertise on all medias that -

Hey, we are having a rate hike. If you want to change you had better do it

before March!!!! Of course they don't want to do this because it will cost

them business. However, when they want your business, they have no problem

running ads in the media inticing you.

I hope that this compliant is read by all of First USA's customers. We,

in America, could stop being screwed by big business. The answer is to stand

together for a common cause like our forefather's before us. By sending out

this compliant, I voice my opinoin and hope that I help others in the

process!!