Bank One Visa, First USA Bank, N.A. ripoff 1.9% promo jumps to 27.99% despite good credit never missed payment Wilmington, Delaware

Even at 28%, to have a $460 finance charge indicates a significant balance. Are you sure there were no other terms (other than paying on time) violated???

In that teeny, tiny, tiny print (that *EVERYONE* should read, read and then read) there are a number of things they disclose that can send you from a great rate to a rediculous one.

Missing/late payments is one. Exceeding the credit limit, even by a penny, is often another. Any "signficant change" to your credit score that they pull periodically is yet an even more vague third. There are more.

The reason they can offer these incredible rates is because unless you're very, very careful, you'll violate those teeny-tiny terms without even knowing you did! In other words, they're BANKING on your doing exactly that! It becomes very profitable for them and well worth those pesky folk who adhere to the terms to the letter.

You're right -- you need to get your hands on that letter they potentially sent to you... also, every state has a Banking Commission. That'll get you results faster than you'd ever believe. Because when they don't respond under the terms of the commission, the fines for that are signficant and banks hate the commission up their a**.

Good luck.