Monday, September 22, 2008

dear valued customer

8-26-08

I recently noticed that the APR on my account has been increased from 29.50% to 35.50%.

I contacted customer service on August 23 to let them know that I should have been notified about the change, so that I could choose to decline the change and close my account.

Customer service gave me a number to call to speak with someone about the issue. That number is 800-707-9835.

I called that number and the outgoing message indicated that the number was no longer accepting calls.

I called back customer service and spoke with the same supervisor, who indicated that they have no information indicating that the number was not in service. He told me it was probably not answering because it was a Saturday. He told me to try it again during the work week.

I tried it again today (Tuesday, August 26), but it has the same outgoing message.

Bottom line:

I was not informed of the change in the APR and given an opportunity to decline the change.

I am declining the change in writing in this contact.

I request that my APR stay as it was (29.50%), and that my account be closed at that interest rate.

I will continue to make regular payments on the account until it is paid in full.

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9-3-08

Dear Valued Customer,

Thank you for the opportunity to serve you. This email is in response to your recent inquiry.

Your account has been closed. You should receive a letter within 7 to 10 business days confirming the account closure. We cannot contact your creditors to stop automatic charges that you previously authorized to be paid from your account. Please contact your creditors directly.

Your APR (annual percentage rate) is a Variable Rate. Bank policy does not allow the processing of cardholder-initiated rate reduction requests. The current rate you have is all that we can offer at this time.

We appreciate and value your business. Please let us know if you have any further questions regarding your account.

Thank you for contacting Customer Service.

Visit www.FinancialEmpowermentGuide.com for helpful information on setting and reaching your financial goals.

P.O. Box 105555 | Atlanta, GA 30348-5555 | 1-888-618-9920 | www.mytributecard.com

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9-9-08

Dear Valued Company,

In response to your response below, please note that I am not requesting an APR rate REDUCTION. I am requesting that you REINSTATE the original APR.

Your company is LEGALLY REQUIRED to provide customers with a 30-day notice if you are going to raise the APR. The customer has the right to decline/opt out/reject the increase in the APR by not charging anything more on the card, closing the account, and paying off the balance with the initial, existing APR.

You did not provide me with a 30-day notice that you would be increasing the APR on my account. In fact, I received no notice at all. Once I received my monthly statement and notice the APR increase, I contacted your company to rectify the situation. I have not used the credit card since PRIOR to the APR increase, and I closed my account as soon as I discovered that your company had raised the APR without notice. I should therefore, LEGALLY, be allowed to pay off the balance due AT THE INITIAL APR of 29.50%, NOT THE INCREASED APR of 35.50%.

I request that you honor your LEGAL OBLIGATION and REINSTATE the INITIAL APR of 29.50% to my account until the balance is paid.

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9-22-08

Dear Valued Customer,

Thank you for the opportunity to serve you. This email is in response to your recent inquiry.

We have processed your request to have your account placed back on its original terms. The APR has been reduced back to 29.50%. You will see this APR reflected on your next month statement.

We have issued adjustments on your account to cover the higher APR that was accessed on your July-September 2008 statements. The following is an outline of the credits the have been issued on the purchase finance charges:

07/07/08 statement - $11.75 Purchase Finance Charge Credit
08/06/08 statement - $11.94 Purchase Finance Charge Credit
09/08/08 statement - $11.48 Purchase Finance Charge Credit

We appreciate and value your business. Please let us know if you have any further questions regarding your account.

Thank you for contacting Customer Service.


Visit www.FinancialEmpowermentGuide.com for helpful information on setting and reaching your financial goals.


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SCORE! I really didn't think I'd get anywhere with this one. What a pleasant surprise.

1 comment:

ladyk73 said...

You rock!