Increasing APR

task17

Hi,

Virgin have recently, without notification, increased the interest rate on my CC by nearly triple what it used to be.

Does anyone know if this allowed and if so is there any way to get it reduced as at the rate it is at now I will still be paying it off in 20 years time.

thanks

iceage3

task17 wrote: »

Hi,

Virgin have recently, without notification, increased the interest rate on my CC by nearly triple what it used to be.

Does anyone know if this allowed and if so is there any way to get it reduced as at the rate it is at now I will still be paying it off in 20 years time.

thanks

what do u mean without notification i thought it was the law to tell u.

LeeSouthEast

I doubt it was without notification. But yes, they are allowed to raise it as it's a variable rate product. Vote with your feet and change cards if it's a problem.

NickX

task17 wrote: »

Virgin have recently, without notification, increased the interest rate on my CC by nearly triple what it used to be.

Did they provide you with the option to pay the debt off at the existing rate, but effectively close the account so no further spending could take place. They are obliged to offer this to you.