credit card apr

[Lynda McKenzie]

I live in pa, and on 09/99 I did a balance transfer with First Usa with the following terms:
introductory rate of 3.9%
fixed rate of 9.99% thereafter.
now i have noticed that my rate has actually varied within months of my signing with them...currently it has been increased to 12.99%.
i have called cust. service only to be told that credit card companies are allowed to adjust their rates according to market rates after notifying their customers. i do not recall any such notification, and, can they adjust a rate that they told me would be fixed at 9.99%?
I would appreciate any advice. thanks

 

[lawrat]

Never ever state the name of a business or person on this site.


As to your fixed rate, check the small print. They have wide latitude to change the terms of the contract and rate.


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I am a law school graduate. What I offer is mere information, not to be construed as forming an attorney client relationship.