I had a card with good history, always made my payments on time. Recently they had to cancel my card because of security fraud. Someone else was using my card. So they cancelled my card but they cancelled it before I had the chance to make my payment to the account and then I did not recieve my new card in time to make my payment on time. So because my payment was late they charged me a late fee and they put my interest rate so high that its hard to afford it now. And the only reason my payment was late was because they had to cancel my old card for security reasons. What can I do to get my interest rate back down and to have my late fee waived off my account. It does not seem fair at all.

Answered on June 02, 2011
Updated on June 02, 2011
The content is accurate at the time of publication and is subject to change.
James Williams James Williams
Please contact your credit card issuer and negotiate this issue with them.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.

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When you carry a balance on a credit card, your minimum monthly payment will depend on the amount you owe, interest rate and fees. As a rule, you have to pay 1%-2% of your card balance plus new interest and late payment fees (if applicable). If you have any past due amounts, they will be added to the minimum payment as well. So, the more you owe on your credit card, the higher your minimum payment will be. However, you can avoid interest if you pay off the card balance in full each month. Also, there are credit cards with 0% intro APRs that do not charge interest during introductory period.
BB&T cards come with 0% intro APR on purchases, that is a great feature. But you don't mention if you are planning to earn rewards on your purchases, as only BB&T Spectrum credit card comes with cash back rewards. You may choose from cash back credit offers with 0% intro APR.
Credit cards from famous brands often come with high rates and fees. If you want to get credit card for your Uber rides, consider 0% and low intererst credit cards to avoid getting stuck with high interest rates or rewards credit cards. Depending on your lifestyle and preferences you may choose to earn miles, points or cash back on your purchases.

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