For anyone out there who has the pleasure of owning a Fleet credit card, I would like to share a recent experience that I had with them. When I recieved my January statement, I noticed that my interest rate had jumped from 9.9% to a whopping 18.9%! I promptly called customer service to inquire as to the problem. After sitting on hold for nearly 5 minutes, while the incompitent service rep spoke to his supervisor, he returned to tell me that they had done a random credit check on me in December. At that time they determined my debt to income ratio was getting a little tight(have they never heard of Christmas), so they raised my rate for that reason and that reason only. I asked the rep why after 11 months of making double the minimum payment, and always before the due date, why would they even consider doing such a thing. His reply was,"Because we can,sir." That was enough for me. I immediately called another credit card company and arranged for a balance transfer and closed the account. I wouldn't do business with Fleet again, even if they offered me a 2.9% fixed rate!
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