I noticed on my latest statement that GE Money Bank who runs the credit services for the Lowes Visa card, changed my due date without notice or warning from the 4th of the following month after the statement issue date, to the 30th of the SAME month of the statement issue date. I had automatic payments set up through my bank's bill pay to pay the bill at least two days prior to the due date, which was on the 2nd of the month. The due date usually fluxed from the 4th to the 6th.

I unfortunately did not notice the date change, which I'm sure they were hoping for, and charged me a 39.00 late fee and jacked the interest rate up from 4.99% to 19.90%. They bought the Lowes credit card services from Capital One about a year and a half ago. It probably drove them crazy I had such a low rate. The reason I had such a low rate is because I have an EXCELLENT credit record.

I did miss a payment back in October. They told me this is why they increased the interest rate. I still have not found that statement in my records, so I may have misplaced it or it got lost in the mail. After that, I set up my payments on a regular schedule instead of waiting for the statement. That is how they got me. My payments weren't on a set date before. They knew I was going by the statement. Once they knew I was on a regular schedule, they got me by changing the date to four days earlier which was two days prior to my scheduled date through bill pay.

I am disappointed I have lost the great interest rate on that credit card. I will not do business with them anymore. In one way they won, but in another way, they lost. I am paying off the balance and closing the account. I am also going to inform Lowe's of their business practices. I think it is a disservice to Lowe's customers.