Juniper - Barclays Bank Of Delaware
Card Services PO Box 8801
Wilmington Delaware 19899-8801
U.S.A.
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Juniper - Barclays Bank Of Delaware Our rate is out of reach to pay off Wilmington Delaware
1Author
2Consumer
0Employee/Owner
Got this offer in the mail in Nov 2007 from Juniper/Barclays Bank so my wife and I called. It had a low rate of 7.99% which was not introductory so we took it with a limit of $4500. At the end of 2008 they raised our rate to 14.99% (we make no late payments on any accounts we have) and then in 2009 they went up again to 21.99% and then again to our current 27.24%. We called and there answer to why was "the prime has gone up so we raised it". We are currently looking for a new credit card to transfer our balance of $4200 and close this one out. We always make more than the minimum payment each month but with being charged $100 interest monthly it will take years to pay this off and on top of that they will raise it again. I have suggested to my wife that this is like flushing our hard earned money down the toliet so lets not send them another dime, they will turn it over to collections and in 7 years it will be off our credit files. At our current rate of payment it will take 5 years ($9000) to pay this scam card off and I would rather have bad credit for 7 years than to give these crooks money they didn't earn.
Stroker393
Butner, North Carolina
U.S.A.
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REBUTTALS & REPLIES:
1Author
2Consumer
0Employee/Owner
Updates & Rebuttals
#1 Consumer Comment
AUTHOR: Edgeman - Chico (U.S.A.)
SUBMITTED: Tuesday, May 12, 2009
POSTED: Tuesday, May 12, 2009
Not paying your balance off is a bad idea, at best. This can cause your interest rates on other cards to rise and you may even be denied credit in the future. You may not think it's a big deal but life has a way of being unpredictable. There may well be an urgent situation where you will need a line of credit and unable to obtain one.
Just do as you first suggested, look for a card with a more favorable rate and transfer your balance.
#2 Consumer Comment
AUTHOR: Robert - Irvine (U.S.A.)
SUBMITTED: Tuesday, May 12, 2009
POSTED: Tuesday, May 12, 2009
But they were in their "legal" rights to do exactly what they did. If you read the terms and conditions of the card they basically state that they can raise the interest rate for any reason(or even no reason at all). What they and a lot of other banks are doing is raising the rates on people who have a good payment history, to make up for their bad decisions in giving credit to people who should not have had credit in the first place.
However, under no circumstances should you stop paying the card. As you said try and find another card to transfer the balance off of. If you stop paying you are under estimating the damage.
Yes bad credit is one item. But if you have other credit cards they could have a clause that says if you default on a different card they can also raise your rates. During this time you can forget about any new credit. If you do default they also have the right to file a civil suit against you. This would not only be for the balance owed, but any additional interest as well as court and attorney fees. Once they have a judgment they may be able to do a wage garnishment, or garnish your bank accounts to pay the judgment.
