Letter from the credit card folks
Right now I am breaking my big rule and carrying a balance on my credit card. My dad died last month and my husband and I had to fly from CA to PA to be with him in his last days, so plane fare at prime holiday time, motel, rent a car, gas, eating out, etc. Then my pet got injured and we put it on the card rather than put her down. She made a recovery so I don't consider that a waste of money.
Yesterday I got a letter from the credit card company- they are changing my FIXED 7.99% rate of interest to 11.99% "Due to market concerns". Now I have never made a late payment, exceeded the limit or broken the other rules. My credit rating is very good. It says I can opt out of the rate increase if I want to close the credit card. I think if you close a line of credit with money owing, that is a bad mark on your credit, right? I can't pay it off by March 1st so what to do?