0% to 36%

Rodka

My son had a credit card with the RBS at zero%. The credit card accounts were moved to another company that is charging a crippling 36%. Is this allowed or legal?

Many thanks for your advise.

cifpower

yes it is both allowed and legal. What made you think that it wasn't?

NickX

Solution : Get a new 0% card and move the balance across.

OK there will be a fee of around 3%, but bye bye to 36%

stevsand

cifpower wrote: »

yes it is both allowed and legal. What made you think that it wasn't?

Your right but your atittude stinks.

cifpower

stevsand wrote: »

Your right but your atittude stinks.

No attitude apart from a quizzical one

rodent

stevsand wrote: »

Your right but your atittude stinks.

UH oh ....we are not off to a good start, here are we ?


The Rodent

lisyloo

yes it is both allowed and legal. What made you think that it wasn't?

Well, I would have expected the legal contract to have some sort of bearing.
Although these things often have clauses that allow them to be varied with notice.

I think it's quite a reasonable question given that it's a legal agreement/contract.

I suspect there are terms and conditions to the effect that the lender can change the rate whenever and however they wish.

CLAPTON

usually (always?) 0% cards are for a specific time period or for a specific balance.
what were the T&Cs of your son's card.
Have they been broken..if so I'm sure he would have a valid complaint. If however, the 0% period has simply run out then he would have a much less substantial case.
Perhaps you could provide more details.

_Andy_

Duplicate thread, see

http://forums.moneysavingexpert.com/showthread.html?t=1393265