PNC Bank Credit Card Complaint

PNC Bank Credit card department,

APR or interest rate Michigan

I made a late payment to a signature credit line account in - 2015 - my fault - and - 2015 ( due to an error by a branch employee ). I have held the account for 10 years at an interest rate of approximately 9 %. In - of 2015 the bank increase the APR to the penalty rate of 24.99 %. I called to get an explanation and they told me that my contract gives them the right to increase my payment after - late payment. Per - - - ( a ), no creditor may increase any annual percentage rate ... except as permitted under subsection - b ) '' parts - of section - b ) do not apply to my circumstances but - - ) allows for such an increase due solely to the fact that a minimum payment by the obligor has not been received by the creditor within 60 days after the due date for such payment, provided that the creditor shall '' provide notice not later than 45 days prior to the increase stating the reason for the increase. I spoke to the bank but they asserted that their contract with me permits them to apply such an increase upon the happening of - ate payment. I asked for a copy of my contract which they only agreed to send by paper mail. The bank only offered to escalate '' the matter for me and stated that they could not put me in contact with a person who could provide answers on the matter.