American DreamCard™ MasterCard® Review
Card Reviews
Add Your Own

Written by: alohaoleon on 2008-11-27

Overall Satisfaction
Customer Service
Account Management
Delivery Time

alohaoleon's review: Received a change of terms notice for a purchase APR increase from 12.49 to 14.99 effective 1/09/2009... No need to opt-out, balance will be paid before then.


Comment 1 by thomas1
APR CHANGE on 2008-11-27

This is very common right now as banks are putting the brakes on apr's, and credit lines. Thank god it hasn't happened to my accounts yet!!

Just hang in there till this mess if over. I would call and speak to an account manager to ask why though. Did your scores drop, apply for new accounts, miss a payment?

Good luck to you!!
Comment 2 by colonative
Not That Bad on 2008-11-28

That is actually not a bad increase. Two of my Citibank cards jumped from 10.9% to 18.99% and I have excellent credit. It is a sign of the times.

In the 80's it was not uncommon for people with excellent credit to have 15%-19% APR. And I believe we might be going back to that.
Comment 3 by meya
Not Bad on 2008-11-28

I agree, this is not a bad increase. There are members here approved with apr's double to your increase. Sorry it happen to you, but like mentioned, this is what's going on with nearly all banks right about now.
Please login or register for free to view your stats, add reviews and card application results, or post comments.
Credit card reviews and comments are posted by user submission and do not warrant the opinions of Finance Globe.

Disclaimer: This content is not provided by Other. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Other. Review content is powered by Finance Globe.