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Brownbears's avatar
Brownbears
Explorer
Dec 16, 2015

Good Sam/ Campingworld Visa

I have been using this card for years. Switched from Barclays to Comenity still no problems, enjoyed rewards.( mostly free gas ) Today I have an issue. Recieved letter stating changes to account. Basically they are raising APR from 7.99 to 13.99 %. Reason stated was my credit review which showed a score of 844. I thought that was near the top? Called them and customer rep stated that most people were getting intrest raised, because of bank change? This change happened a year ago? To tell me it is being raised cause of poor credit in letter irritates me a lot. The rep said call back once the change takes effect and they may lower it. If they don't I will be dropping this card. I urge other members to check their agreement and see if same thing is happening to them.
Good Sam Club
  • AmericalVette's avatar
    AmericalVette
    Explorer
    Dec 16, 2015
    Wow! That's insane, an 844 score is way, way up there!! I've not received any notice yet, but I'll be on the lookout for it.
  • bhall's avatar
    bhall
    Explorer
    Dec 16, 2015
    My credit score is not at your level, but only a benjamin away and my letter is jacking me up to 23.99 but it said it would take effect in mid 2016 I believe. Looks like I'm dumping this card.
  • DutchmenSport's avatar
    DutchmenSport
    Explorer
    Dec 16, 2015
    I have only one real credit card. Use it a couple times a year and pay off immediately, just to keep it active. I use my bank ATM card with Mastercard or Visa logo, can run as credit or debit. But it's money from my own bank account, not real credit.

    Interest will swallow up your life, and can trap you into a bottomless hole that will suck the life-blood from you!

    If you are dissatisfied with this card (I don't care what brand it is), NOW is the perfect time to get away from using credit cards completely. Pay it off, no matter what it takes, and kiss it good-bye. Your life will be much more happy.
  • lanerd's avatar
    lanerd
    Explorer II
    Dec 16, 2015
    I've always felt that using credit cards and then paying installments is just plain crazy....especially with their extremely high interest rates. I can understand buying large items with a loan (house, car, rv, etc), but if you can't pay cash for something small, you shouldn't be buying it.

    I agree, using a credit card makes buying simple as you don't have to carry around large amounts of cash and the purchase is always protected. However, we use our credit cards on a monthly basis and ALWAYS pay in full the day the statement is issued.

    Pay off those cards.

    Don't use them as a loan.....which IMO, is a really bad practice.

    Ron
  • TinyoneRV's avatar
    TinyoneRV
    Explorer
    Dec 16, 2015
    While I understand your disappointment I don't think your interest rate is out of line even considering your good credit. Heck, some home loans are being written for only a point or so less than your previous rate. I've had the same card for over 30 years and have a credit rating similar to yours and can't get a rate anywhere near your previous rate. Lastly, I doubt your personal credit rating had anything to do with this decision.
  • Ray___June's avatar
    Ray___June
    Explorer
    Dec 16, 2015
    Check your credit union. That's all I've used for the last 15 years. (mine is 6.99%) If enough people left the banks, maybe they wouldn't be so greedy.
  • Gene_Ginny's avatar
    Gene_Ginny
    Explorer
    Dec 17, 2015
    Brownbears wrote:
    ... Basically they are raising APR from 7.99 to 13.99 %. Reason stated was my credit review which showed a score of 844. ....
    JMHO ... I think the reason it went to only 13.99% is because of your score. There are many cards at 15% and going up from there.

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