Target National Bank C/o Target Credit Services Hiked interest rate without notification based on alleged late fee in 10/2008. Minneapolis Minnesota

I received my Visa bill on Saturday, 2/14/2009. I noticed they raised the interest rate to 27.99%. I called them to ask to lower it, they told me because I allegedly had a late fee in 10/2008, they raised the interest rate. I told them I always pay in the Target store on the due date. If they have a cut-off time other than before the store closes then they need to put that in print on the statements.

I also asked about about all of the other many months and years I HAVE paid on time as well - including October and they just repeatedly said I have to pay on time for consecutive 12 months from now in order to get it lowered. I think this should be illegal and something done about it. If nothing is done, I will discontinue shopping at Target, definitely am paying off the balance and cutting up the card as well as closing the account. I do not want anything to do with a company that operates in this manner.

Sandy
Unity, Wisconsin
U.S.A.