Please Help...

mrscloggy

We have 2 HSBC credit cards. Recently I tried to get them to lower the interest rate on one of them (mine) and they refused. Now I find they've jacked my rate up even higher (22.9%). Our credit is bad, so no way to transfer balances. We have no problem paying the minimum and a bit more, but this just really chaps my hide. I'm ready to give up, it just makes me cry. Any advice would be greatly appreciated. Thank you~

IWantToBeFree_2

Don't think there is much you can do, afterall, you signed a variable rate agreement, and therefore they can increase/decrease it whenever they see fit. If you are struggling, why not pop over onto the Debt Free Wannabe board where they can give you advice on where to cut back and therefore pay more off the cards so they are clear quicker!

DipStick

This will probably happen more and more now that banks are less and less willing to lend at low rates to anyone will less than perfect credit history, so the option is to think how to reduce the debt, as IWantToBeFree says. The days of soft options are passing.

Mandark

Yes this was reported on the news that there were going to be good rates for 'good' customers and bad rates (and even offloading!) for 'bad' customers. But it's the 'bad' ones who need the good rates really...

DipStick

Mandark wrote: »

But it's the 'bad' ones who need the good rates really...

From each according to his ability, to each according to his need. Who was it who said that...?