In December I purchased a water system from a local dealer who finances with American Finco/CIT Bank. Originally the finance charge was 19.99% 2 months later it went up to 21.99%. In june 2009 I received a letter the interest rate will go to 25.99% even though I was making my payments on time and paying more than the minimum payment. I was livid. So I withdrew the money from my annuity and paid the amount stated in the "Total new Balance" on July 22, 2009. I called to verify their receipt of my check and the automated voice stated I... read full review »