Credit Card Rate Question

izzieuk

I have a Lloyds Classic Mastercard, its one of their older credit cards from a few years back.
It was about 19% interest a year. However, at some point in the last year it changed, and I obviously didn't see it. I have dyscalculia so I am terrible with numbers and reading numbers. The money saving expert calculator says that my interest rate is now around 23%year or 1.736/month.
I heard that you can reject rate hikes but have I missed the cut off. I have no idea how you go about it. As I said I have trouble with numbers and maths, and I am well aware I was a moron and should have spotted that earlier.
I am just asking whether there is anything I *can* do now in terms of rejecting the rate hike or if I am a bit stuck with it now? Any experts on this sort of thing?

CLAPTON

19% is a rediculous rate of interest and so is 23%

you have only a month to rejest the rise so it's probably too late

unless you can get another CC with a lower rate (preferrably 0% for a period) and balance transfer then the only way forward is to pay as much as possible to clear the debt and to resolve never ever to borrow on CC (or indeed any loan other than a mortgage) ever again

stephane_2

Generally the rule with most providers is that you have 30 days to accept or reject the new rate, so unfortunately there is not much you can do about it until there is a new rake hike, otherwise the other option would be to apply for another credit card with a 0% offer...