Lowe's Visa bought out a Capitol One account of mine which was at interest rate of 12% (low for me). Within six months the rate went to 24% with NO late payments, always paying 'way above minimum and no late payments with other companies. On June 6 I received the May statement stating a closing date of 5/27/09 and stating a due date of 6/12/09, thus giving me about a four day grace period to send in payment. Also in the statement was an enclosure stating the interest rate is going up, the penalty for late payment is going up, if the balance is paid in full they still can charge late fees, up interest rate, etc, and lastly, they will call my cell phone to "talk" to me about my account if necessary and can have "others" use automated dialing to my cell phone to "talk" about the account. I closed out the account today, and I have closed out my 30 year relationship with Lowe's. I also called the telephone number listed to opt out of the cell phone calls, and found that it was just a ploy to get me to put in my cell phone number. I hung up on them.

Please always read the inserts in your statements and always look at the due date - this is a gimmick from GE Bank, and I am reporting to my state Attorney General and also my congressmen.