Flybe CC interest rate 3% increase

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In the side column on the 2nd page of my statement, there's a note :

IMPORTANT: From your first statement after 1 May 09 the interest rate for Standard Purchases will increase to an effective rate of 22.9%PA (1.73%pm) (variable). The Cash Advance interest rate will increase to an effective rate of 25.9%PA (1.94%pm) (variable). Your new APR is 22.9% variable.

My rates are currently 19.9% purchases and 22.9% cash, so it's a 3% increase at a time when interest rates are lower than they have ever been! Is this just me that has this, or has anyone else got this too? And why is this only mentioned on the second page of the statement? are they hoping nobody notices, perhaps?

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  • battyboimatt
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    It must be across the board because my statement says the same and i have only had the card a couple of months
  • sscott5581
    sscott5581 Posts: 663 Forumite
    First Post First Anniversary
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    Yes my statement also shows this increase!
  • jack290292
    jack290292 Posts: 173 Forumite
    First Post First Anniversary Combo Breaker
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    :confused: Nothing on mine. Arrived today dated 16/3 and still shows normal rate nothing on either page about increase
  • claire6hy
    claire6hy Posts: 967 Forumite
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    same, no increase on mine
    THANK MEEE:j
  • exel1966
    exel1966 Posts: 4,978 Forumite
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    calibrax wrote: »
    so it's a 3% increase at a time when interest rates are lower than they have ever been!

    Credit card rates have never been linked to BOE base rates, they are linked to associated risk of the account holder and the financial economy generally, hence why some could have seen an increase and others not.

    Is it possible your personal circumstances have changed in some way ? Do you have more available or used credit then you've had before ? Have you recently applied for more credit ? All factors that could influence a change.

    By in large though card companies will charge whatever they can get away with whilst still retaining their customers.

    You could just ask them to lower the rate and see what response you get. If not favourable then your choice is to accept or go elsewhere perhaps ?
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