Drastic Increase in APR unwarranted!
Written: Jul 21 '00
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Product Rating:
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Pros: None
Cons: First USA is not honest with its customers!
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| Eric_C's Full Review: First USA |
Elsewhere in these pages I wrote about my distrust and lack of service received from First USA in regards to their Cash Rewards program. I have additionally experienced horrible service in regards to their recent APR changes.
I have always been satisfied with First USA due to a low APR (9.99% on purchases) Titanium Card. A little annoyed by the constant telemarketing telephone calls, but I endured them to maintain this low APR account.
Recently, First USA bumped my APR from 9.99% to 16.74%. I called to inquire and the agent politely informed me that a letter had been mailed about 30 days prior to the increase and that was all they could do to help. (I honestly never received that letter).
The agent mailed a new letter, explaining "You received the change in terms notification for the following reasons:
- length of residence
- too much available credit"
First of all I live in New York City, and have moved every year until I moved into my current apartment (which I am going on my 3rd year of residence). So that reason seems inaccurate.
Secondly, First USA gave me a credit limit of $13,000. It is the highest credit limit I have on any of my cards. If First USA truly felt I had too much available credit ... they could have lowered the available credit, and not have raised the APR.
Beware of First USA!
Recommended:
No
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Epinions.com ID:
Eric_C
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Location: Brooklyn, NY
Reviews written: 5
Trusted by: 0 members
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