Barclaycard 4% interest rate rise is it legal?

Hello everyone,This month Barclaycard increased my Annual Purchase interest rate by 4% without any notification either on last months bill or this months bill.I did not receive seperate notification either.I made a phone call to a call centre in India and failed to understand the person who could not speak English so put down phone.Is it legal to raise interest rates like this without any notice?
Thank you
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  • CannyJock
    CannyJock Posts: 3,838
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    edited 30 June 2010 at 10:06PM
    Painterman wrote: »
    Is it legal to raise interest rates like this without any notice?

    There's a requirement for them to issue an advisement. Whether you receive the advisement is another thing.

    Legality on it is a trickier one to establish, some things like racism is black and white from a legal point of view, if you see what I mean ;) Out of curiosity, how do you know that it was in India? Did you recognise a specific dialect?

    If you're unhappy with the interest rate increase, and their overseas call centre staff, why not simply transfer your balance to another provider?
    "A child of five could understand this. Fetch me a child of five." - Groucho Marx
  • chattychappy
    chattychappy Posts: 7,302 Forumite
    It is legal for them to raise the rate, but they must give you notice. No doubt if you complain they will say they wrote to you.

    Are you "happy" with the new rate? If not I think the most you can do is insist they let you reject the rate change - and pay off the balance at the old rate.
  • HouseHuntr
    HouseHuntr Posts: 522 Forumite
    Painterman wrote: »
    Hello everyone,This month Barclaycard increased my Annual Purchase interest rate by 4% without any notification either on last months bill or this months bill.I did not receive seperate notification either.I made a phone call to a call centre in India and failed to understand the person who could not speak English so put down phone.Is it legal to raise interest rates like this without any notice?
    Thank you

    Complain in writing quoting the Trolling law !
  • Any
    Any Posts: 7,944
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    HouseHuntr wrote: »
    Complain in writing quoting the Trolling law !
    Can't see absolutely nothing trollish about OP's post.
    Maybe you are just overworked and having visions.
  • Any
    Any Posts: 7,944
    First Post First Anniversary Combo Breaker
    Forumite
    It is legal for them to raise the rate, but they must give you notice. No doubt if you complain they will say they wrote to you.

    Are you "happy" with the new rate? If not I think the most you can do is insist they let you reject the rate change - and pay off the balance at the old rate.

    Completely agree.
    Also worth mentioning that if you reject the rate (which you can and they must go with the old rate) you won't be able to use that card again.

    Basically they will close the account and you will have to repay the balance on it at the rate there was at time of closing (ie the old rate).
  • david39
    david39 Posts: 1,968 Forumite
    They probably "notified" you in small print on the previous statement - but they should have also put the option in for you to retain your old rate provided you did not use the card again.

    You have to advise them that you are choosing that so, if you have already been charged the higher rate, that option will already have been forfeited.
  • BugsyBrowne
    BugsyBrowne Posts: 5,697 Forumite
    Painterman wrote: »
    Hello everyone,This month Barclaycard increased my Annual Purchase interest rate by 4% without any notification either on last months bill or this months bill.I did not receive seperate notification either.I made a phone call to a call centre in India and failed to understand the person who could not speak English so put down phone.Is it legal to raise interest rates like this without any notice?
    Thank you

    There is nothing worse being peed off then speak to someone in india who's english is about as good as 2 year old baby..
  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    star-fire wrote: »
    There is nothing worse being peed off then speak to someone in india who's english is about as good as 2 year old baby..

    Being stabbed?
  • hullight
    hullight Posts: 524 Forumite
    star-fire wrote: »
    There is nothing worse being peed off then speak to someone in india who's english is about as good as 2 year old baby..
    _Andy_ wrote: »
    Being stabbed?

    Or speaking to UK staff whose English is as good as a two year old baby?
  • Hank_Marvin
    Hank_Marvin Posts: 267 Forumite
    Isnt the argo store card run by barclaycard, because there putting up the interest rate by 2%.
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