I received a notice in the mail that my Walmart credit card interest rate was going from 15.87 APR to 22.90 APR, that is over 6%! I do not have a problem with being late in paying or going over the credit limit.
So, I called the customer service number on my bill as it suggested in the notice and asked why.
I was told that it was across the board, that everyone was going to get this notice regardless of one's credit standing or account activity. The lady on the phone said I could cancel my account to avoid the higher interest and offered no alternative so I had to assume that Walmart was not interested in my business and I cancelled the card.
Product or Service Mentioned: Walmart Credit Card.