Recent rate increase

Posted Thu June 29, 2006 10:04 am, by Sharon H. written to Juniper Bank

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I have been a customer of Juniper Bank for a year now and not only have I consistently paid my bill on time but have paid a considerable amount more than is due each month. I have enjoyed an interested rate of 8.90% up until this month when it skyrocketed to 23.99%!

After trying to reach an Account Representative, which is difficult to do through the automated system, I was informed that in April a late fee was assessed to my account because my payment was one day late. I tried to voice my concern and was rather rudely told there was nothing that could be done and no one with whom I could speak to regarding this matter. I am a paperless customer and only access my account online. Periodically, problems arise on the website that will not allow me to sign in and at that particular time I was experiencing this dilemma and was forced to make a phone payment resulting in the posting showing up one day late.

I feel Juniper's credit evaluation and decision to increase my interest rate rather harsh. My payment history surely warrants consideration and my original interest rate should be restored. At least one late payment is allowed a reprieve. Two months after the fact, my interest jumps from 8.90% to 23.99% and it is too late to ask for a pardon. Had I any indication that this was about to occur, I could have taken the necessary steps to resolve this issue. I must now seek alternative measures to transfer my balance and to close this account. I am extremely dissatisfied with the service provided by Juniper Bank and will continue to let my opinion be heard.

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Re: Recent rate increase by S. Brown Posted Thu June 29, 2006 @ 3:14 PM It sounds like you are waiting until the last minute to make you payments and I would suggest making them a little earlier so that if you encounter website problems you will have sufficient time to still get your payment posted by the due date. Unfortunately, your cardholder agreement probably states that you are responsible to make your payments on time no matter if they are mailed, made on-line or over the phone, and that if even one payment is late, they will raise your interest to the penalty rate. It does seem pretty harsh to me, but sounds like it's the way it is. Possibly this well written letter might result in their reversing their decision. Reply rate increase by Sharon Hauser Thu June 29, 2006 @ 5:12 PM