Fifth Third Financial Corporation Credit Card Complaint

Fifth Third Financial Corporation Credit card department,

APR or interest rate Ohio

I have a credit card for our business with 5/3rd Bank out of -, OH. I have had this card for over 10 years and in the past had done all of my business with 5/3rd until the 2008 housing crisis. At that time, I was trying to get another mortgage and a Senior VP at 5/3rd lied to me during those negotiation and was eventually fired for mistreating me. I then took all of my corporate business to - Bank in -, with the exception of this - credit card. I have an excellent credit rating and I have paid on time for years. However, a month ago, I did not get my statement in the mail and before I realized that I had not paid it, my payment was 10 days late. The next month, I found that they had raised my interest rate from 9.24 % to 29.99 % just for being 10 days late. That is a penalty of $220.00 per month! They have now informed me that this penalty will be in place for six months! Meaning that they are going to penalize me $1300.00 for being 10 days late on - payment. Clearly this is predatory. Certainly, they are trying to drive my business away. I have no problem with that, I just have a huge problem with how they are doing it. That is a lot of money for any small businesses and many would not be able to take their business elsewhere. This simply is wrong and I ask the CFPB to investigate this practice at 5/3rd Bank to see how wide spread this predatory practice is and how many businesses have been affected. Then I ask that you take action to get them to repay me and the other business victims for the money that they have literally stolen from us.