I just logged on to my ML account to see if my new statement had been generated. Even though today was payday, I wanted to wait till my minimum payment was generated so that I wouldn't have to pay twice a month.
Imagine my confusion when I saw that my minimum payment had increased from $65 to $95. I did some investigation and I saw that for some reason I was taken of my 1.9% APR and put on the regular 9.99%. I am pretty sure that my promotional rate was for the life of the balance. Seems like I am going to be on the phone with Merrill Lynch tomorrow. What a fun saturday to look forward to!
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1 week ago
Ouch. That's going to hurt on such a large balance. I've been on the phone to credit card companies and brokerages almost constantly these days. Let us know how the phone call turns out.
ReplyDeleteThe 10% rate isn't too bad but sure I would like to keep the 1.9% for as long as possible. Unlike typical contract law, the credit card companies can change the rates whenever they feel like it. I had a rate change on me like this once and no longer do business with that company. The credit card companies are going broke because people are figuring out their MOB-like tactics. Waiting to hear the details of what happened to your rate.
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