Call them up and tell them you received their notice and you want to cancel the card. I'm betting they'll back off on that and put your rates back where they were, but you should be ready to cancel it if they don't.


>Have had what I call excellent credit rating and always pay credit card balance each month. (90% of the time)
>The main card i use had an interest rate of 7.8%, just got a letter from them telling me that I qualified for a new rate of 29.8% from now on with a list of all extra charges that ranged from about $30 and over based on the penalty.
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>Sure does make one very frustrated to see these banks get the big bail out bucks. As a tax payer I am going to be paying for that. Now, they expect me to pay extra interest charge on top.
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>Really makes one feel like we are in for a big rip off!
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>The high interest rate does not mater to me, because i will not be using the card any more, but for the poor slob out there that has a balance to pay off and the interest rate jumps 20+ percent, I really feel sorry for them.
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>I think i will take a shoe or two and send to the new president so he can fling them at the big wigs in all the banks!