credit card rip off

helenecollins

last year I took advantage of the Virgin 0% super balance transfer deal, with the APR of 15.9% variable after end of deal.
I did not add to the card and only transferred my balances, repaying every month more than the minimum required..
I am now just coming to the end of the interest free period and guess what the APR is going up from 15.9% to 24.9%

When I rang them to query this, I was told that they do reserve the right to change it and that I had just had an interest free period!!!!!!

My reaction was that Scrooge would have been proud of them and a usurer could not have done a better job of enticing business using what i feel to be a dodgy practice.

What do you think?

roswell

move it to somewhere else idealy life of balance.

Rafter

There must be a reason for that kind of jump.

Either they think you are a bad credit risk or are actively trying to get you to close your account as a result of the money they have lost in the last 9 months.

R.

The_Boss

Why is this a rip off? If you pay your balance in full it wont affect you. If you transfer the balance, it wont affect you. You have plenty of choice in this.

helenecollins

yes i do transfer my balances but that was not the point of the comment. My point was that i felt that what they have done was part of their original planning for the 0% offer in the first place! Looking at other postings it would seem that other peolpe have had the same correspondence and therefore it only supports what i have said. By the way my credit is top notch!