YOUR TURN: A credit card squeeze - WMC Action News 5 - Memphis, Tennessee

WMC-TV 5 V.P. & General Manager Lee Meredith

YOUR TURN: A credit card squeeze

This week's "Your Turn" segment goes to Chuck Leigh. Leigh is furious about increases in his credit card interest rates.

In his words:

"I've received notices from two banks that I have credit cards with stating that my interest rate is going up. Mind you I've never missed a payment or exceeded my limits on these cards. They're telling me the new rate will be 20 percent and will apply to all previous and future balances. I've worked hard to keep my credit right and don't know what to do. I foresee having to come up with an extra $150-200 a month just to pay the additional interest. Oh yeah, their reason for the increase is to "maintain profitability" on the account. This right after getting bailed out with our tax money."

That's Chuck Leigh's turn. Now it's your turn. To comment on this segment or anything else, email or call 800-465-1210.

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