CIBC increasing personal credit lines interest

Canadian · #1 03-16-2009, 02:45 PM

I have a personal line of credit with CIBC (I've had it for over 5 years), which I have never used. The other day I received a letter from CIBC notifying me that they are increasing the interest on the credit line by 1%. Not that I care, because I don't need the credit line, but I'm curious if this has happened to anybody else?

bullish · #2 03-17-2009, 02:30 PM

I also have a credit line with CIBC, but there haven't been any changes for a while.

Canadian · #3 03-18-2009, 01:45 PM

Anybody else, had their interest increased?

trent · #4 03-23-2009, 06:35 PM

I've stopped doing business with CIBC a long time ago.

Canadian · #5 03-24-2009, 02:40 PM

I've talked to a friend of mine on the weekend and the same thing happened to him. CIBC sent him a letter out of the blue stating that they increase the interest on the line of credit by 1%. I thought the interest rates were going down, not up. So much for that

.

trent · #6 03-27-2009, 02:58 PM

This will happen more and more as the credit crisis progresses. Or should I call it a savings crisis?

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