Bank of Scotland One Card interest rate change

jazzt1

Just recieved my BOS One credit card statement today and they inform me on page two of the statement that the interest rate is going to increase from April to 16.45%! Previously I've had a standard rate of 12.9% so I think they've got a cheek! This is going to go from being my current cheapest card to being the most expensive.

Guess I'll be paying this one off first instead of the Egg card! :rolleyes:

Has anyone else received this wonderful piece of news?!

JoseChungsDoomsday

I see that they are also changing their visa cards to mastercards now

King_Of_Fools

JoseChungsDoomsday wrote:

I see that they are also changing their visa cards to mastercards now

Surely the other way round?

JoseChungsDoomsday

nope, if you go to their web site the one card is a mastercard now. I also got a questionaire pop up about a week ago asking if it would effect me being a customer if they offered mastercard to visa!

King_Of_Fools

JoseChungsDoomsday wrote:

nope, if you go to their web site the one card is a mastercard now. I also got a questionaire pop up about a week ago asking if it would effect me being a customer if they offered mastercard to visa!

Strange but true! They have been moving towards Visa from Mastercard for a couple of years now. Even their debit cards have all been changed to Visa from Maestro.

Maybe Mastercard have offered them a better deal recently!

M_Thomson

King_Of_Fools wrote:

Strange but true! They have been moving towards Visa from Mastercard for a couple of years now. Even their debit cards have all been changed to Visa from Maestro.

Maybe Mastercard have offered them a better deal recently!

Er, nope, the debit cards have been changed from Maestro to Visa Debit Cards.
With regards to the credit card change, I guess it doesn't really matter wether it is Visa or Mastercard. Acceptence levels are almost the same for both.

topmum

jazzt1 wrote:

Just recieved my BOS One credit card statement today and they inform me on page two of the statement that the interest rate is going to increase from April to 16.45%! Previously I've had a standard rate of 12.9% so I think they've got a cheek! This is going to go from being my current cheapest card to being the most expensive.

Guess I'll be paying this one off first instead of the Egg card! :rolleyes:

Has anyone else received this wonderful piece of news?!

Thanks for this. I have not yet received this little gem from BOS One yet, but no doubt it is on its way. I was totally conned by BOS about this card in the first place. I had an ordinary BOS credit card and they offered the one card to me with 12 months interest free so I changed over. On the first bill they charged me interest anyway turns out that I was not eligible for the deal as I already had a BOS card. Been through their complaints procedure with no satisfactory explanation or apology :mad: So 16.45% puts the tin lid on it!

King_Of_Fools

topmum wrote:

Thanks for this. I have not yet received this little gem from BOS One yet, but no doubt it is on its way. I was totally conned by BOS about this card in the first place. I had an ordinary BOS credit card and they offered the one card to me with 12 months interest free so I changed over. On the first bill they charged me interest anyway turns out that I was not eligible for the deal as I already had a BOS card. Been through their complaints procedure with no satisfactory explanation or apology :mad: So 16.45% puts the tin lid on it!

Yes, the 12 months interest free would have been on transfers from cards not run by HBoS.

gessoo

Yes jazzt 1, I know just how you feel. I had my Halifax One Card statement through this morning which informs me that in April the rates will rise from 15.90% pa to 19.52! Cheek is not the word - I can assure you I used quite a few stronger ones.
I'm glad it's not just me tho'. I had started to think it was a conspiracy 'coz I recently threatened them with court action re bank charges. Hence I've been searching the boards for mention of it.
Do we have to take this lying down?
Previously, I had another card with the Halifax, the interest was a coupla percent higher, I rang them up to ask about cheaper debt and they offered me the One card. I dread to think how much they would be charging if I still had my previous card!
If any one has any ideas about who we can have an 'effective' moan to about this, let us all know.

Rafter

It is all those naughty customers who aren't paying their bills and declaring themselves bankrupt.

And all those naughty moneysavers who are sitting on £000's 0% money in their savings accounts.

And all those people claiming back their penalty charges.

Halifax Bank of Scotland is trying to protect its profits somehow and it is those people who are paying interest on their accounts who suffer the most.

The only thing you can do guys is to try and transfer the money elsewhere. Ideally to a life of balance rate where the interest rate cannot increase and where you don't have to worry about moving providers every few months.

Good luck

R.

SFBanks

gessoo wrote:

Yes jazzt 1, I know just how you feel. I had my Halifax One Card statement through this morning which informs me that in April the rates will rise from 15.90% pa to 19.52! Cheek is not the word - I can assure you I used quite a few stronger ones.
I'm glad it's not just me tho'. I had started to think it was a conspiracy 'coz I recently threatened them with court action re bank charges. Hence I've been searching the boards for mention of it.
Do we have to take this lying down?
Previously, I had another card with the Halifax, the interest was a coupla percent higher, I rang them up to ask about cheaper debt and they offered me the One card. I dread to think how much they would be charging if I still had my previous card!
If any one has any ideas about who we can have an 'effective' moan to about this, let us all know.

I recieved the same letter with my statement raising my APR 19.52%

I have a normal Halifax Gold card. I have had it for 6 years and managed my account very well in those years. I called them up and was told that all rates are being reviewed and altered to suit. Whatever that means! The girl I spoke to could not give me any satisfactory answer as to why my rate was going up.

I told them I will be moving my balance elsewhere and cancelling my card. She did not seem to be bothered. I have applied for the egg CC and will be moving my balance there.