Barclaycard APR increase....

SJP

Just had a letter from Barclaycard - they really pick their moments....:eek:

Increase on the APR for Platinum cards from 14.9% to 19.9%:eek::eek::eek::eek::eek::eek:

Nightmare - gonna have to pull my finger out now and get this either paid off or transferred.....

Where to start????

SnowTiger

SJP wrote: »

Just had a letter from Barclaycard - they really pick their moments....:eek:

Increase on the APR for Platinum cards from 14.9% to 19.9%:eek::eek::eek::eek::eek::eek:

Nightmare - gonna have to pull my finger out now and get this either paid off or transferred.....

Where to start????

Or you could reject the increase. But you'd no longer be able to use the card.

Cash_Flow

I received the same letter.

Good old variable apr.

outofoakes

Mines been increased from 19.9% to 24.9%. How do you go about rejecting the increase? I dont use the card just trying desperatly to pay it off but they keep moving the goal post!

SJP

SnowTiger wrote: »

Or you could reject the increase. But you'd no longer be able to use the card.

That might be an idea in the short term, as want to stop using it....

Will it affect my credit rating??

Cash_Flow

SJP wrote: »

That might be an idea in the short term, as want to stop using it....

Will it affect my credit rating??

No.

Good luck.

Speedys

outofoakes wrote: »

Mines been increased from 19.9% to 24.9%. How do you go about rejecting the increase? I dont use the card just trying desperatly to pay it off but they keep moving the goal post!

There is the customer services number on the letter (should be 0844 811 9111), just phone them up and ask them to close the account, they will keep the interest rate at your current rate but won't allow any further transactions.

I phoned today to close mine and asked for confirmation in writing, promised within 7 days.

kerri_gt

My OH received the same letter today, he's paying his card off atm (about £4.5k left) but doesn't have a sufficient credit rating to move the balance atm. I told him he should phone and refuse the increase to keep the current APR but he hates phoning (I know, I know....) and knowing him will just do nothing and get hit with the new APR.

Can I draft a letter to Barclaycard to the effect that he does not wish to continue his account with the new APR, thus not allowing new transations etc etc - and just get him to sign it? Or does he have to phone them?

SJP

kerri_gt wrote: »

My OH received the same letter today, he's paying his card off atm (about £4.5k left) but doesn't have a sufficient credit rating to move the balance atm. I told him he should phone and refuse the increase to keep the current APR but he hates phoning (I know, I know....) and knowing him will just do nothing and get hit with the new APR.

Does he have online access to his card? if so there is a contact us box on there, you can drop them an email and it can be done like that.

I sent them an email yesterday asking about the rate increase and I got the usual bull - will be responding today to tell them to close the account with the facility to pay it off.....

Sooner pay it off at 14.9% until I can figure a way to transfer the debt elsewhere, balance is too high to move it away and then move it back to push for the simplicity rate.....

Wonder if I would get anywhere by asking if I could transfer to a Simplicity card :rotfl:

willstewart

Same letter here. 3% rise for me.
Cut the card up ages ago and reducing it bit by bit at present so shouldn't take too long once I close it.

kerri_gt

SJP wrote: »

Does he have online access to his card? if so there is a contact us box on there, you can drop them an email and it can be done like that.

I sent them an email yesterday asking about the rate increase and I got the usual bull - will be responding today to tell them to close the account with the facility to pay it off.....

Sooner pay it off at 14.9% until I can figure a way to transfer the debt elsewhere, balance is too high to move it away and then move it back to push for the simplicity rate.....

Wonder if I would get anywhere by asking if I could transfer to a Simplicity card :rotfl:

Unfortunately he doesn't have online access - cut up the card a long time ago and never set up online details.