Legal Question in Credit and Debt Law in Minnesota

No notification received about interest increase
My credit card company recently increased the interest rate. They insist they sent me a letter in April informing my of this, and that I had 30 days to opt out. Since I never received the letter I never had a chacne to opt out. I have been communicating with them and all they say is that I should be assured and that they did indeed send that letter. My whole argument is that even thought they sent it, it never arrived in my mailbox. It was not sent registered mail or anything like that. What can I do? I asked them to re-send it, with today's date and giving me the 30 days to opt out, with the reversal of the interest rate. But they refuse, all they do is insist they sent the letter. Please help.

Asked on 6/01/05, 6:16 am

David Anderson Anderson Business Law LLC

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Re: No notification received about interest increase

I suggest you find another card with a better rate, then transfer your balance to that card.

Otherwise, call Customer Service and tell them that you have a better rate with another card, and you will stay with them if they match it.

Answered on 6/01/05, 1:06 pm

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