USA Bank - interest rate increased from 12.99% to 19.99%

# 15 for May 16, 2003

Complaints.com received the following on May 15, 2003:

From: Email User

RE: USA Bank - interest rate increased from 12.99% to 19.99%

I have a credit card for 5 years with a fixed interest rate of 12.99 with 1st USA Bank.

I am now told that they will increase this to 19.99 which will take effect on all of my prior purchases which I would not have made had I known that the interest rate was not 12.99.

Their reason is that I have a lot of credit outstanding (includes student loans from nursing & law school).

I am a full time law student and was not employed during the semester.

I have never been late with any of my payments.

This is unfair unequal bargaining power and I want to prevent them from taking advantage of me and other customers who when they need help the most are taken for a ride.

Thank you,

Monique