I have had A US Airways Credit Card (VISA) for over 15 years - have always paid on time, and in some years, barely even used the card. In early 2009, I was contacted by a US Airways VISA rep on a call and offered a magnificent deal - a cash advance of $26, 000 (for a one-time fee of $750) and a GUARANTEED LIFETIME INTEREST RATE of 2.2% (as long as payments were made on time, otherwise, a "penalty rate" would be imposed. Very shortly after I accepted this offer, I lost my means of employment, but continued to pay my bills on-time. Then... Barclays Bank took over the US Airways Card and it became a Mastercard. Immediately, my interest rate climbed to 5%+, with no warning. I ignored it, still seemed like a good deal, and continued to make my payments. To make a very long story short, I found myself near-bankruptcy by the middle of 2009 after a series of business partners defaulted on my loans to them, and Los Angeles (where I was living at the time) was hit hard by the real estate and stock market crashes. I lost all of my money, my own loans were "called" by my bank, and I was wiped out. I lost my car, my house, and moved out of the state, living on my now cashed-in IRAs. I closed every credit card line (including Barclays US Airways card) and continue to make my payments - on-time!

In December, my interest rate, with no warning whatsoever, was increased to 29.99%. When I called and asked why, I was not given a reason. Then I was told that if would agree to close my account, my rate would be reduced back to the 5% rate. I pointed out that I had ALREADY closed the account, was NOT in default, and was paying them on-time, but they insisted that the account was open. Fine - I told them to close it. I was put on hold, then the shrill, and very rude India- based call-center "Relationship Manager" came back on the line, told me that my account was now closed, but that they had decided NOT to lower my rate after all - it would stay at 29.99%. She began to shout at me when I asked to speak to a supervisor, and I hung up. I made one additional payment (by now, I had paid down my balance to $20, 000) my last payment was $1, 000 in February of 2010. My interest charges are close to $500 a month. I decided to simply stop paying them, as my credit rating is in shambles and I simply cannot afford to pay these people what they asking for. I made one last attempt on March 29 to speak to a supervisor, was put through to one after much harassment by the nearly incoherent India-based rep (please, please, teach these employees how to speak English - politely and without SHOUTING shrilly) and though the supervisor was quite polite, my request to have my rate reduced was refused, even after I described in detail what my situation was. I then told her that my only option was to simply NOT pay them at all - and this is what I have decided to do. I have been receiving robo-calls, but have the ability to block them with my phone system, and everytime they switch to a new number, I simply add it to my "block" list. At some point I suppose they will either "charge off" this amount or send to a collection agency, but you can't get blood from a stone, and I have had enough of being intimidated. (As an added bonus, collection agencies are usually people who WILL negotiate, if you ignore them long enough.) Then I discovered Barclays odious record of racism, eminent domain battles in Britain (this is NOT even an American bank, they are British) and unearthed even more horror stories on the web about similar abuse with other "credit cards" they administer. My strong advice is to BOYCOTT BARCLAYS BANK and if your credit is already ruined (as mine is) there is no point in trying to negotiate with them - they will not bargain in good faith. CITIBANK, on the other hand, not only put me on a "payment plan" and did NOT raise my interest rate, they also offered me a 20% credit (up to $500) for every dollar that I paid over the minimum on the amount that I owe them. Guess who's going to get paid? DO NOT PAY BARCLAYS BANK if you can do so without worsening your situation, and complain to the FTC, the BBB, AND your State Senator - I did. It didn't help me personally, but public pressure can and does work against these soulless and faceless corporations. BOYCOTT BARCLAYS BANK!