Juniper is increasing my individual account APR from 7.99% to 12.99%, effective November 1, 2009. When I called, they said it was because of the financial crunch and not because of anything to do with my credit. It makes no sense for a company who wants to make money to increase their APR just as the holidays are approaching.
5% is a large increase; 2or 3% would have been understandable. My options are to accept the increase or reject it. If I reject it, my account is closed and I can pay off the balance at the lower APR.
I use my credit for emergencies and special things like visiting my 80 year old mother. I don't have a high balance nor do I have a large income. I resent this increase.