Interest rate increases.

Forris

I'm one of the many people that have had their credit card APR increased recently. After checking the advice on MSE, I decided to call my provider (Alliance & Leicester) today to complain about the increase. I have to say I had all the relevant information to hand and was ready for a fight!

Well, I was given a bit of a surprise! The CS person put me straight through to 'The Rates Team'. I explained that my rate had nearly doubled (15.95% to 29.95%) and that I was unhappy about it. Before I had chance to even get started on my 'arguments', the guy on the 'phone said, "OK, we can put your rate back to its previous level. We'll send you a letter to confirm that. Will that help?".

The whole process took around 3 minutes and I was left feeling a bit stupid for worrying about calling them i the first place. So, for those of you that have had similar increases - GET ON THE PHONE. Good luck!

Simon_Preston

I remember when my HSBC card had gone up to 32% apr last year. Got on the phone and they reduced it to 15.9 there and then without bother. M&S were less helpful and refused to budge from 20.9%. Is there a thread on which card providers will reduce rates over the phone and which will do it with some convincing? If not lets get one going.

97trophy

well done Forris - good to hear that success story