Interest Rates Doubled!

steve!_10

Gordon_the_Moron wrote:

Maybe they have upped your interest rate because you have never paid them a penny in interest and they won't to get rid of you... it has worked!

They make money from each transaction as well ... Plus they can spam you with ads for associated products. The other week Virgin tried to sell me Cancer insurance ... I lolled.

The_doomed

tracyn wrote:

I have a great credit rating and always pay my cards in time, usually in full (except during promo periods).

Otherwise how on earth do they stay in business when it is obvious they are ripping their customers off big time?

eh. why do they think they have started uping limits?

CopperPlate_2

Yes but surely all of that costs money too - the advertising and associated junk that they send you. Granted they make a % of each transaction but dependent on how many times and how much you spend it might not amount to that much over a year or financial relationship. Just a thought.

To be honest the APR doesn't really bother me - I pay off in full every month. I'd be a bit unhappy if they suddenly increased my rate without increasing it across the board - then I might think it was specifically directed at me :rolleyes: in which case I might consider moving.