I have a credit card with Juniper. I had 7.99% I have paid this card on time and more than owed for a year.
Juniper sent me checks recently so that I can transfer other higher interest rate accounts to them. I can continue to have a low interest rate on all my debt. I made a mistake 2 months ago on my online banking and sent out the wrong amount. I was a few dollars short of minimum due. This caused a late fee which caused an over limit fee, which caused my interest rate to jump form 7.99% to 18%... I called and explained that I made a mistake, this was my first time, and I asked for them to waive the fees and give me back my 7.99%. Juniper waived one fee and not the other and left my interest rate at 18 something. The next month I made a payment minimum plus $ 30. Then I see that they raised my 18% to 24.24%
I called and asked them why. Juniper agent said prime rate went up.
This is so unfair. Its over one mistake and now my monthly payment went up from $ 88 to $ 151 dollars a month I cant do this.
So now I have to stop paying and my good credit is going to be ruined. I just went on SSD cause I have R.A. and have very limited funds. I don't know what to do except maybe take them to court. I want to pay my debt but at a lower monthly payment. They dont want to help me all they offer me is some insurance I have to pay for incase I lose my job or I get sick lol I tell them its to late it already happend I got sick and lost my job and they offer no other help. Do I have a chance of winning if I take them to court or should I wait till they take me to court? Thanks
Answer by T
Well, your case seems two-fold.
As for them jacking your rate to 18%, that can be justified because they will argue that it is listed on the fine print that any over-the-limit transaction will push your rate to the standard rate.
As for them jacking it from 18% to 24%, that seems like something you can contest. By any means, my best advice would be to find a way of paying them off as soon as possible.
Answer by Craig
It sounds like you defaulted by being late and overlimit. I'm sorry to say this, but you will not win in court on that. If you can't afford to pay the higher amount, then I recommend you calling them and ask them if they can work out a re-payment program for you if you agree to close the account. If they agree to do that, you won't be able to use the card, but you can pay it off at a payment you can afford.....and still keep your good credit.
If they won't work something out with you directly, then you may need to look into debt management/cccs. There are a couple like novadebt and take charge america you can look up online. You can also look into a local cccs. Whatever you do don't use a debt settlement company. They will charge you a lot of money and ruin your credit in the end.
Good luck with your situation.
Answer by MB
You need legal advice, not opinions from people who are not lawyers. That can get you into trouble. (No offense to people answering to help you.) You can get a free case evaluation from lawyersandsettlements.com. It may help you decide what to do.
https://www.lawyersandsettlements.com/submit_form.html?label=cc_abuse&ref=article1981
Answer by Ayan M
you have no chance of winning
Answer by StephenWeinstein
I would say no. Unfairness is not against the law.
However, if your card had a fixed rate and they changed the terms to make it variable rate or a different fixed rate (but not if it was variable rate already), then they should have given you the option to refuse to accept the change to the terms. If you properly exercised that option AND stopped using the card, then they must allow you to pay according to the original terms.
Answer by FastEddie
Unfortunately, you do not have a case for a lawsuit. Most credit card state in print that your rates will increase if you are late or exceed your credit limit. They are actually counting on it.
What you should do is look for another credit card company that has the rates that your looking for and transfer your balance over to them.
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