BinBin asked:
My checking was NSF when I was out of the country for few weeks. I resumed the payments on my credit card when I was back. As the result, some of my credit card interest rate jumped from 5.9% to 29.99% and 33.34%. I am still making payments on the cards, but it is very differcult to pay down the balance when the rates are so high.
LEROY
Comments
Yes,
Pay off all credit card debt!
Because of the NSF you triggered what is known as the “Universal Default Rate”. This is what they consider a penalty rate when you cause certain events, such as the NSF. Generally the credit card companies will do nothing to lower the amount right away. However some will switch you back to a lower rate after 6 months of good history. You need to contact your credit card company and ask them to review your account. If the first person you talk to will do nothing, then ask to speak to their supervisor.
Hi,
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