Household Bank Question
After my divorce I had two accounts with HouseHold Bank. Each credit card had a credit limit of $1500.00. They were both a few hundred dollars from max. I recieved a letter from HouseHold Bank that due to the economic climate my interest rate on both was going from 13.99% to 24.99%. I called them immediatly and tryed to get them to lower the rate and they told me that it could not be done because of the economy.
I scrambled and in a few months I paid off the one card. I waited to see a statement showing me the zero balance on that account. Then I called Household Bank to cancel that credit card. I told them that I wanted to cancel the card because the rate was too high and due to the economic climate I could no longer afford to use the card. What they did was convince me to combine both cards together into one account and they would lower my interest rate back to 9.98%. They said that I will be recieving notice of this in one week. I will believe it when I see it.