La Redoute Increasing Intrest Rate On credit Account

russetk

Recieved my statement yesturday and at the bottom it says La redoute are rasing the intrest rate on credit account from 26.8 to 29.9 from 01/01/2011.

I am not very happy about this what should i do? I got the letter on friday so they havent given me 30 days.

Do the credit card things apply to credit accounts? If so should i reject the rise as not given 30 days and there is no reason for increasing? Or should i close the account at the old rate till i pay it off (irritatingly i cant do it at the moment bad time of year for this). Or put it into dispute and send £1 and my CCA request. I cant find any terms and conditions for this account or a CCA in my papperwork.

fozmcfc

Basically they hold all the cards

You do have 3 choices.

1/ Accept it
2/ Refuse it, but they will close account and you will have to pay it off.
3/ Contact them ask them if they would reconsider, but it's unlikely, you have a variable APR and they have varied it.

Not sure why you think you can just reject it etc.

They can close your account at any time, with little or no notice for any reason they choose and there is nothing you can do about it. They can then ask you to pay off the amount owed at your current APR.

needalittlehelp

Hi russetk,

I worked the Redcats (which is part of the La Redoute) and either you will accept the increase or they will close the account.

No other options really

N

Malky

russetk wrote: »

Or put it into dispute and send £1 and my CCA request. I cant find any terms and conditions for this account or a CCA in my papperwork.

Comments like that are not going to win you any friends on here as many will guess where you're heading.
As suggested, refuse the interest increase, close the account and pay off the balance at your current rate.
Is it possible to move the balance onto a 0% card?

PNPSUKNET

nope cant get 0% as tried the same with his other creditors