HSBC APR rise with no warning!!

growing4gold

Sorry if this has already been discussed here- did a search but I am a bit new here!

So, a few months ago I was doing a bit of shuffling and rang HSBC to see what they could offer me. Just by asking I managed to get my APR dropped from 17.9% to 15.9% which is ok- I was let on to this by my fella whos statement was showing 19.9% and he got it down to 15.9% by just asking.


so yeah all good! Then a few months goes by and I notice on my statement that the APR is showing as 17.9%! I ring and they say that sometimes they re-evaluate APR's! So I asked why I hadn't been notified with no satifactory response. Anyway, they dropped it back down to 15.9% so fine.

Since then I have transferred the balance to a higher rate card because I had some cash withdrawals on there and today I was going to see if they had any promo rates for me and if not just transfer a balance at 15.9%.

HOWEVER, when I asked what my current rate was they said it was 19.9%! And this time they said they couldn't drop it and I would have to write to them!!!

Luckily I have no balance on that card as it is now the one with the worse rate!

It seems really wrong that they can just rise the rate and not even let you know! I mean they let you know about everything else thats going on- like every small change of terms they send you a huge wad of paper!

So this is a warning to other HSBC customers to check your rate on EVERY STATEMENT!!!!

I'm so cross as now im stuck! ggrrrrrr!

Moggles_2

HSBC is not known for good existing-customer offers, unfortunately. This account may simply be bumping up your available credit for no good purpose.

Having you considered applying for a new credit card?
To maximise the 0% period, 16 months is currently available to new customers from Virgin. There's a 2.98% handling charge.

http://uk.virginmoney.com/credit-card-v3/

Alternatively, 14 months is currently available to new customers from Tesco. A 2.9% BT fee applies.

http://www.tescofinance.com/personal/finance/finance/creditcards/bonuscc/index.jsp

You'd get 13 months with Halifax. There's a 3% BT fee.

http://www.halifax.co.uk/creditcards/pluscard136.asp

Which is best depends, to some extent, on which cards - besides HSBC - you have at the mo or have held recently.

growing4gold

Hi Moggles!

No, I cant get new credit unfortunatly. i do have a lot of cards but noone willl give me special exisitng customer rate so am just stuck with current rates which are all 19.9% or 17.9%. Got egg, nationwide, halifax and barclays- the one good one cause i have the 6.9% rate but only a limit of £720!

thanks though!

Moggles_2

growing4gold wrote: »

I can't get new credit unfortunately.

Which new credit card(s) have you applied for unsuccessfully in the last 12 months?