credit card provider transfer

aquarius23

looking for some good advice on weather my credit card company has acted illegally or not . My original credit card agreement was with Marbles but they have sold my agreement to to Aviemor Funding limited. At the time of the transfer the interest rate was 21.9% it was then increased to over 31% by the new lender, I questioned this at the time but Marbles told me there was nothing they could do. Is this fair practice or could I challange this in a court.

Tixy

In your original terms and conditions with Marbles it will be noted that the interest rate is variable. And they did sell on a lot of debts to aviemor (about a year ago I think).

Aviemore should have written to you informing you of the new APR. Providing the increase happened after 01 Jan 09 you could have opted out of the increase within 30days by notifying them you wished to close the account and keep paying at the current APR - here is an article that may be worth reading http://www.moneysavingexpert.com/reclaim/credit-card-interest-rate-increases but it may be too late for you to do anything now.

aquarius23

thanks for your help Tixy