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Rate increase on BoA RCCL Visa card (merged)

abhb

By abhb,
in Royal Caribbean International

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abhb

abhb

Posted
Posted

Have you had a rate increase on your BOA Royal Caribbean card?

I know this has been discussed before but I am curious to see if many people got this increase.

 

Finally payed off the balance and I got a notice Saturday that my rate was going from 9.99% to almost 16.00%.

I never made a late payment, always payed hundreds more than than the minimum and have excellent credit. Got the balance down and just charged my final payment for my cruise in June. I will pay it completely. I am not going to give them any additional interest money. If I weren't so close to a free cruise with my points, I would have redeemed them all for OBC for my upcoming cruise.

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cruisinfanatic

cruisinfanatic

Posted
Posted
Have you had a rate increase on your BOA Royal Caribbean card?

 

I know this has been discussed before but I am curious to see if many people got this increase.

 

Finally payed off the balance and I got a notice Saturday that my rate was going from 9.99% to almost 16.00%.

 

I never made a late payment, always payed hundreds more than than the minimum and have excellent credit. Got the balance down and just charged my final payment for my cruise in June. I will pay it completely. I am not going to give them any additional interest money. If I weren't so close to a free cruise with my points, I would have redeemed them all for OBC for my upcoming cruise.

 

I know this is happening with all banks.

But to tell you the truth I have no idea if mine has been raised because I don't care. I don't carry a balance.

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BillOh Holiday Sharing Rare

BillOh

Posted
Posted
I know this is happening with all banks.

But to tell you the truth I have no idea if mine has been raised because I don't care. I don't carry a balance.

 

And once again, you reply with this barely relevant post.

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luvscruising2007

luvscruising2007

Posted
Posted

Yes. I did have it happen to me. I called the card company and asked why? Their answer was not satisfactory and I asked to speak to a supervisor. He was very nice and after our conversation and some research on his part he had the interest rate returned to the original rate.

I would suggest you try this and it can't hurt.

Good Luck.

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djmutters

djmutters

Posted
Posted
I know this is happening with all banks.

But to tell you the truth I have no idea if mine has been raised because I don't care. I don't carry a balance.

 

Oh yes the poster whom as a "Credit card" and pays his balance off straight away but slates others that don't.

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Aquahound

Aquahound

Posted
Posted

Finally payed off the balance and I got a notice Saturday that my rate was going from 9.99% to almost 16.00%.

 

I just received that same notice yesterday. I'm going to call them tomorrow and see about keeping my rate at 9.9%.

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RMILLER4292

RMILLER4292

Posted
Posted

About 6 months ago, our rate was raised from 9.9 to 19.99...with no justification at all...No late payments, and we carry a fairly substantial balance....I called and they said that it was a bank rate change and that there was nothing they could do about it. I might call again on monday and try to get it reduced....we've always been good customers.

 

Ryan

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Diva Onboard

Diva Onboard

Posted
Posted

I just received a notice on Saturday. Was anyone successful in having their interest rate reduced after calling to complain?

 

Even though I carry a balance, I too always pay on time and three to four times above the minimum payment. What the heck.

 

So in essence - our tax money is "stimulating" the banks. Then, we stimulate them further with higher interest rates. Who makes out in this deal except for the banks and those who default.

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ken_nyc

ken_nyc

Posted
Posted

I know ALL of the banks are doing this, they need the money.

Also my boss has had a problem with both AMEX cards, they only give you $200 above your balance as your line of credit; when your balance lowers after a payment they lower it again so it is $200 above your balance.

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ChevyCruiser

ChevyCruiser

Posted
Posted
I know this is happening with all banks.

But to tell you the truth I have no idea if mine has been raised because I don't care. I don't carry a balance.

 

I don't carry a balance from month to month either, and they still charge me interest on the average monthly balance. :mad: Not sure I'll keep the card once I accumulate enough points for a nice reward.

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dancing dragon

dancing dragon

Posted
Posted
Got a notice Saturday that my rate was going from 7.9% to 13.24%

 

Mine too.... just got word saturday that it will happen in May, my anniv. month, got the new card in the mail last week...

 

now what to do with my 100,000 points???

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April-in-NC

April-in-NC

Posted
Posted

My last bill (Due April 5th) I still had a 9.9% rate. I've been keeping an eye out for a rate hike because I've heard a lot of people are having this happen. It really is frustrating for people who have played by the rules and we're getting taken advantage of by the credit card companies. :mad:

 

I've pretty much stopped using this card for personal items (unless I'm booking with RCI) I think Starwoods has a better rewards program (it came highly recommended from some users on the Cruise Air board). Since I have a larger line of credit on the RCI Visa I use this for my work expenses so I get free points!

 

I'm using the Starwood Amex for my personal use and use the RCI as a backup of someone doesn't take AmEx.

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kccrzr

kccrzr

Posted
Posted

Received notice today of intent to increase rate to 13.65%. Frankly, I wondered if the rate increase was due to my just cashing in 125,000 points. In any event, I am going to call and and reject the increase then quit using the card unless they agree to leave the rate at its current level.

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sweet angel

sweet angel

Posted
Posted

I just got a notice today that they are changing the rate on my RCI credit card.

 

My current APR is 7.9%. Effective May 2009, it is increasing to 13.65%.

 

To say I'm furious is an understatement. I use this card for major purchases to accrue rewards points. I do carry a small balance but pay A LOT on the card each month. I guess if I want to keep accruing rewards points, I'll just have to pay in full each month.

 

What a ripoff.

 

Anyone else get notice of this? :mad:

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