Reply #8: It needs to be retroactive!

[DollyM]

My Mastercard that I have had for about 8 years and pay faithfully ontime each month but do carry a balance, is being raised from 9 percent to 14 percent interest. I have been a good customer, always paid on time and never went over my limits and I am being punished because of those who didn't use their credit wisely. It just isn't right. My rates are supposed to rise this month. When I saw the original bill would go into effect a year or so from now I thought it was a total waste as most of these companies that are upping rates are doing so right now. It needs to go into effect immediately.