What the heck?
I opened my mail today, and in it was a letter from Citibank raising our credit card interest from 8.9 to 29.99%!
We’ve never been late. We usually pay off the card monthly. And we have a 22K credit line on that card. (Don’t ask me why or how, they just kept increasing it!) And did I mention we just got this card to rack up airline miles?
What on earth are they thinking? We bail them out, and they stick it to us? Yeah, baby...your tax dollars at work.
We’ve been given two options:
Take it and like it.
Opt out and the card will be cancelled.
I want to cancel the card, but am wary of the effect it will have on my credit rating. I definitely want to be wise about it!
I decided to search the web, knowing full well I wasn’t the only gunzel to experience this most glorious event, and sure enough, plenty people have been hit with this since the first of the year.
I found some really good information on LaToya’s Credit / Debt Blog. And be sure to read comment #13 on her blog...it hands out good advice from Scott.
Go read it while I stomp around the house, fuming and saying bad words. Even the dogs are cowering. (Not really, they’re eating rawhide ears and having the time of their lives - don't you EVEN call SPCA.)