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Transfer of CC Account to new provider
mssloan
Posts: 67
Forumite
Hi,
On the 21st November 2010 my Citi Financial Credit Card account will be transferred to a new provider CC Asset Management Ltd (this is being imposed on me). I currently have a promotional 'Life of Balance' interest rate on the outstanding balance. Is the new provider able to scrap this promotional rate and charge me the full standard rate, even though I have done nothing to breach the terms of the promotional rate deal (not missed any repayments)?
EDIT: I'm currently paying interest at around 6% per annum (can't remember the exact rate) but the new provider's BT rate is over 30%
Regards,
mssloan
On the 21st November 2010 my Citi Financial Credit Card account will be transferred to a new provider CC Asset Management Ltd (this is being imposed on me). I currently have a promotional 'Life of Balance' interest rate on the outstanding balance. Is the new provider able to scrap this promotional rate and charge me the full standard rate, even though I have done nothing to breach the terms of the promotional rate deal (not missed any repayments)?
EDIT: I'm currently paying interest at around 6% per annum (can't remember the exact rate) but the new provider's BT rate is over 30%
Regards,
mssloan
Free at last! Free at last! Thank God Almighty, I'm DEBT-FREE at last! (with apologies to Martin Luther King 
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