Six years later, I decided I'd like to get another credit card with better interest and stop using my first one. I considered the various offers in the mail until I found one from Chase Mastercard, which offered a 1.5 year introductory period with 0% financing and an 8.9% purchase APR after that. So all is going well until I log on to my computer today to discover that on 12/25/08 my interest rate was changed from 8.9% to 28.9 percent. (omg, was I pissed)
Now I understand that the economy sucks and times are hard and bla bla bla, but really? How is this not bait and switch? They are more than tripling my interest rate BEFORE MY INTRODUCTORY PERIOD IS OVER. I never ever would have opened this account if they had told me my interest rate would be that high.
I called and of course got nowhere with anyone. I want to pay off the balance and close the account but I've heard that closing a credit card is detrimental to ones credit score.
UGHHH I am furious.