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Old 06-11-2009, 11:21 AM  
Sly
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Join Date: Sep 2004
Location: Austin, TX
Posts: 31,293
Quote:
Originally Posted by Yen_HerbalRevenue View Post
Sadly it is Legal... These companies can pretty much do whatever they want. I have had my card for a few years. I always pay on time and do not carry a high balance. When I opened another card they raised my interest rate. When I noticed it and called them to get a reason why, they told me because another company ran my credit and that lowers my score so they can raise rates depending on your credit score.

I was very bullshit because what I do with another company should have nothing to do with them. I had been a great customer for years. I closed the card I was so mad.
Opening up another credit card, that you could potentially max out and default on your original credit card, does affect them. That's how credit works.
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