Confused about Citicard to Opus switchover.

just_say_no_2

Hi all, new poster here.

I have a citicard which is being transfered to Opus, not quite sure why as I have never missed a payment or gone over my credit limit, and from what I understand Opus is a card for people who can't normally get credit.

I originally got my citicard for the life of balance transfer rate (4.9%) and have a balance of around £1700 at this rate. There is also a balance of around £1500 at the standard rate (originally 19.9% but now 24.9%. It was increased in April not sure why).

Form what I can gather the life of balance rate will stay the same when the switchover goes ahead. My question is this, will the switchover be classed as a balance transfer and therefore go up to the Opus rate (38.3%!!!!!!) or stay the same as I haven't signed anything agreeing to the new T&C's.

If it does go up will I be able to opt out by closing the account and paying off at the same rate? This won't be a problem as I cut up my citicard ages ago and my Opus card suffered the same fate as soon as it hit the mat.

I'd be grateful for any help as Citi have been next to useless when I've phoned them and I can't even phone Opus until the changeover actually goes ahead on the 21st.

Blue_and_Yellow

Hi, there is an answer to this question on the main Opus Card forum.