AT & T UNIVERSALCARD TRIPLED MY INTEREST RATE WITHOUT JUST CAUSE SIOUX FALLS, South Dakota

. I have an AT&T Mastercard account which is, and always has been, in good standing. I have had this account for more than twelve years and have never made a late payment. As a matter of fact, I have never made a minimum payment until now. The problem is, through no fault of my own, they raised my interest rate on the entire purchase balance from 5.9% interest to 17.9%

. I received a letter from them at the end of October 2009 stating this fact and also that I could choose to opt out and “freeze” the account , charge nothing further and pay off the balance at my current rate. I called them on Nov. 2 and after speaking with several people in ever higher positions attempting to get a better deal, as I have done numerous times in the past twelve years, and was told that at this time, there was nothing anyone could do. So I told them to “freeze” the account and that I was cutting up the card. I assumed this would hold the current rate and allow me to pay it off as they told me I could.

Two statements later I get the wonderful news that they indeed raised the rate anyway. Now my minimum payment is more than double the prior rate and I am unable to pay more than the minimum, and as we all know, if you pay the minimum, you will pay forever! Help me and thousands of others in similar situations!

Viki      Charleston, WV