Worthless credit card company

[CTA_Busa_LE]

VERY common Credit Card Tactic..... Unfortunately this is the norm in the industry! Best to pay off the debt completely. Then open an account in your name and continue making a payment to yourself! That away YOU can be your own Credit Card. But, you have to get out of debt first. If the company isn't willing to negotiate with you on a better APR move your business elsewhere. But, be advised this an impact your credit score making it even more difficult to get a better rate. Worse yet IF you can't get approved for a better offer with another card your current CC company could wammy you again with even higher interest rates... All part of the design unfortunately.

How true. As bad as it sounds this is a positive thing to happen. My wife and I were already working towards being debt free, this will just help add to the motivation needed to do so. Thanks for all the thoughts and ideas from everyone so far

[Revlis]

Meh, Sounds about right... Sounds like a rather friendly increase as well. Have you seen some the "penalty" interest rates? 33% etc??? So yeah, typical stuff. Frustrating, do what I did recently with a Visa. Just call em' up, and talk to a manager. Not some half sentient mouthbreather answering the phone but a manager, and just explain that you feel their increase is unwarranted given your years of trouble free card usage and that if they insist on increasing your limit that you will in fact pay the total amount due now and close your account.

They don't WANT you to pay off your cards, that's a death sentence to them. Worked like a charm, once way back, DISCOVER (remember them, the ANYONE can have a $7500 limit card company) did the same thing to me. After 11 years of flawless history Doscover got shuffled in a move and we straight up missed a payment. BOOM 23%!!!! Yeah They got paid off that month after refusing to fix it...

Discover has to be about the worst though, the most predatory anyway. Hunting down the shakey or recently established and giving them available balances way beyond typical.

I've had nothing but good luck though with American Express, not their Credit cards, cause they are just like any other card, but they Charge Cards are the Bomb. Handle your business, pay everything off at the end of the month. Win-Win and six years 433,000 points later trouble and drama free...