I have had a card with Direct Merchants for many years. Always kept it even though it was my highest interest card at 14.9%.
I lost my job, but have continued to make payments on their card, and all my others. But somehow they must have sniffed this information out, because recently, low and behold, they raised my rate to 24.99%. Now I have a $7900.00 limit and $4000.00 on it. If they were so concerned about getting their money, don't you think they would have lowered my credit amount too?
But I still have $3900.00 of credit available. I guess they want me to use the credit so they can just make a ridiculous amount of money off my temporary hardluck situation.
Of course, I can't negotiate a lower rate, because I don't have a job!! This is how banks like this FORCE people into bankruptcy!!!