my dad has a target card, "redcard" , and the only reason he got it was to help pay for his medication not paid for by medicare during his donut hole. he has to pay $2700 before medicare part d will pay for any of his medications.
he is disabled and on ss & got the card to help pay for his out of pocket expense, this way he does not have to go without his medication. the problem is his interest rate has grown from 18% to 29.99% in less than a year!!!!!!!!! he has NEVER been late with a payment & usually pays more than his minimum payment. his last bill was $49.92 & he paid $300.
however, his rate went from 27.24% to 29.99% just in the last month!!!!!!!!! he called customer service about this matter & they told him they had raised everyones rate by nearly 3% to help recover money they have lost due to other people filing bankruptcy against them. i'm sorry but how the *** is that my dad's or anyone elses problem?????????!!!!!!!!!!!
i think it is wrong to screw a customer with a good payment history, already living on limited income, just because someone else has screwed you!!!!!!!!!! if anyone has any suggestions or comments they would be greatly appreciated!
Product or Service Mentioned: Target Credit Card.