I opened a Mastercard and a Visa credit card with Citbank in 1986.

I have never missed a payment on either credit card in the nearly 25 years that I've had the cards and the interest rates on the cards have been pretty much 12% since the beginning.  I also have a near-perfect credit rating.

Recently, Mastercard-Citibank informed me that the interest rate was being jacked up to 27% from 12%.  I called them and they backed down....they only jacked it up to 14%.

Visa tried the same thing but only jacked up my interest rate to 18%.  I complained, told them the same story I told Mastercard about my payment history and credit rate.  Tough.  They wouldnt change the rates.

Scott