I never read the notices from my credit card company. If it's not a bill -- I dump it in the garbage. Fortunately, one of my friends alerted me to a interest rate increase from Chase, CitiBank and a few other companies that is slipping under the radar. They have sent notices to all their customers that the APR is increasing dramatically -- in some cases as high as 24%. Sure enough, I checked my bill this month and I was up to 24%. Now, I have never missed a payment, have never been late, and have had the card for years.
I called customer service to inquire as to the rate increase. The conversation went something like this:
"Hi, I've noticed that the APR on my credit card is at 24% APR."
"Yes, that's right.."
"Well, it's not right with me. What gives? It was below 10% last time I checked."