Citicard Raise Rates

Peter999_2

Its alright criticizing people for financial mismanagement, but how come you're paying interest on credit cards anyway?

Surely this means you have spent more than you have and therefore have your own financial mismanagement problems?, what's the difference?? apart from the fact that you're jealous that other people have got their money back and you can't?

david29dpo

i am at a loss where you have got all this information from about me. i dont have a credit card, i have not spent more than i have, never have, never will. how can i be jealous that other people have got there money back and i have not? please advise.

The_Boss

Peter999 wrote:

Its alright criticizing people for financial mismanagement, but how come you're paying interest on credit cards anyway?

Surely this means you have spent more than you have and therefore have your own financial mismanagement problems?, what's the difference?? apart from the fact that you're jealous that other people have got their money back and you can't?

Borrowing within a credit limit and paying back due amounts by due dates is good financial management. Are you suggesting that people that pay back £100 per month on time are on the same level as those that pay late or the incorrect amount, or go over their limit?

M_Thomson

Call_Centre_Monkey wrote:

It's happening to all credit card accounts at the moment. As I've said before, this was always going to happen once the fees on the cards were reduced to £12.

I also agree with you. The Consumer Action Group "Brigade" have a lot to answer for.

Peter999_2

david29dpo wrote:

i am at a loss where you have got all this information from about me. i dont have a credit card, i have not spent more than i have, never have, never will. how can i be jealous that other people have got there money back and i have not? please advise.

I'm meaning the people who are not happy that the interest rate has gone up for the money borrowed. Why pay any interest in the first place?, why not just spend what you have and not be in debt?

I'm afraid I'm still from the school that you only spend what you have.

Peter999_2

The_Boss wrote:

Borrowing within a credit limit and paying back due amounts by due dates is good financial management. Are you suggesting that people that pay back £100 per month on time are on the same level as those that pay late or the incorrect amount, or go over their limit?

Sorry, but I think paying any interest on credit cards is not good financial management and I can't believe you think otherwise.
The interest rates even when 18% are extortionate!, and if you pay off 99% of what you owe, you still pay the interest on everything you owe. Its madness!

The_Boss

Peter999 wrote:

Sorry, but I think paying any interest on credit cards is not good financial management and I can't believe you think otherwise.
The interest rates even when 18% are extortionate!, and if you pay off 99% of what you owe, you still pay the interest on everything you owe. Its madness!

Whether you think paying interest is good management or not, the fact is that if people abide by the terms and conditions of their account, that is good management. If you do not abide by the terms and conditions, that is bad management.

By paying interest, you are not breaching any account terms and conditions.

Peter999_2

You are blaming other people for the fact the interest rate has gone up so you have to pay more. However, if you didn't owe the money in the first place you wouldn't be paying any interest at all so you only have yourself to blame.

You go on about terms and conditions, but the same terms and conditions also allow the company to increase the interest rates when they want with notice.

The_Boss

Coming next : Consumer Action group tells people to pay back less because "17% interest is disproportionate and unfair and it should be around 8%"

The_Boss

Peter999 wrote:

You are blaming other people for the fact the interest rate has gone up so you have to pay more. However, if you didn't owe the money in the first place you wouldn't be paying any interest at all so you only have yourself to blame.

You go on about terms and conditions, but the same terms and conditions also allow the company to increase the interest rates when they want with notice.

How do you know what interest or how much I am paying? You still do not understand. I am talking about people whose actions have breached terms and conditions. As you say, banks increasing the interest are not breaking a term or condition. But this action is a result of people who HAVE broken them. Whats so special about these people that they should be able to pay late or go over their limits when people like me stick to the terms and conditions?