YIKES!!! We just got a notice from HSBC that the new default rate will be 25% ...Makes me glad we're paying off the CC's to get rid of them all together!

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they are not the only ones capitol one is also raising theirs they raised my fixed 4.99% to 6.99% i only had 50.00 on it so i called and paid it off and said i would like to cancel the card they asked why i told them and they lowered it back to where it was so i will keep it with nothing on it but maybe a tank of gas here and there to keep it active.

THANK YOU FOR THE HEADS UP!! We have 2 BofA Cards w/ large balances on them both! Im gonna call and opt out! Im also going to be calling my other card holders (Cap. One is one of them)

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Thank you for sharing this! I got a letter on one of mine (the other is used with my husband's travel) and I was completely clueless and a little irritated. Ours went up to 23% - so I guess shouldn't complain after reading that article. But thank you again because I hadn't a clue what happened!

You should call them and see if you can still opt out. Im going to call my credit card companies and see if i can.

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