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Monument Credit Card
emperess
Posts: 35 Forumite
in Credit cards
Hello
I would really appreciate some advice please. I have had a credit card with Monument since 2005,the credit limit was £3,500. I had ppi on it and claimed it back a few months ago. Since then they have written to me twice,first to say that due to the economic climate they have reduced my limit to £3,400,then they wrote and said they have decided to close the account leaving me the balance to pay off-with interest!! If I pay this off at £100 per month with them slapping on £75 per month in interest I will never clear it,I would like to approach them to ask them to consider a repayment plan where the interest is frozen which will make it so much easier,what would be the best way to approach them so that they would consider/accept this?
Thank you all in advance
I would really appreciate some advice please. I have had a credit card with Monument since 2005,the credit limit was £3,500. I had ppi on it and claimed it back a few months ago. Since then they have written to me twice,first to say that due to the economic climate they have reduced my limit to £3,400,then they wrote and said they have decided to close the account leaving me the balance to pay off-with interest!! If I pay this off at £100 per month with them slapping on £75 per month in interest I will never clear it,I would like to approach them to ask them to consider a repayment plan where the interest is frozen which will make it so much easier,what would be the best way to approach them so that they would consider/accept this?
Thank you all in advance
0
Comments
-
If they are closing the account then they must allow you to pay back the debt at the existing apr - you cannot use the card of course.
However they do not have to freeze interest, only the rate.
2010 - year of the troll
Niddy - Over & Out :wave:
0 -
Hi
I am in a similar situation but the other way round. Trying to claim back PPI although they have now closed the card and I am paying it off. Slowly!
I too thought they had to freeze the rate.
What were your grounds for mis-selling on the PPI front?0 -
they wanted a refund like everyone me thinks. Monument I believe are not changing the rate, but they will still charge you the intrest as normal.0
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