extortion credit card -!!!!! at work

tonyban

i had 4k on credit card easyjet. they transferred my account to citibank who in turn transferred my account to opus. my interest rate has increased from 9.5% to 38%.I missed three payment dates because of the transfers in companies - I have not used the card since easyjet - in fact i have never had a card from citibank or opus.
Opus is part of the Bank of Scotland - how can these bankers with a capital W get away with this?
Can they do this??

[Deleted User]

Yes. Your account has been sold on.

JasX

And you have 30 days to freeze yur interest rate at 9.5% by objecting to the rise or you are are deemed to have accepted it. How come you missed payments? if they messed up the direct debit payments you have grunds to challenge. If you have not setup DD to cver your minimum payments at least unless you are actually not able to (eg bankrupt and can;t get an account) you are somewhat foolish but if you learn your lesson now in 6 years time your credit record wil be fixed

EDIT: short answer yes. but you would have had plenty of opportunity to do someting about it if you didn't like it at the time

KingElvis

Yep, these accounts have been sold to Opus who seem to be some sub-prime outfit, looks like they're in it for the cash to me.

[Deleted User]

KingElvis wrote: »

Yep, these accounts have been sold to Opus who seem to be some sub-prime outfit, looks like they're in it for the cash to me.

Not like those other nice banks!:)

KingElvis

Deleted_User wrote: »

Not like those other nice banks!:)

Yep, they're pretty much all crooks

BUT, to up the rate from 9.5 to Vanquis levels seems like a real scam to me. I know people have the right to reject it and freeze the rate but I guess they're counting on people being disorganised and not bothering.

At those rates, a large balance will soon cripple people who are just "hanging on".

pqrdef

Since you no longer have an active card, you may be lucky you've been sold to Opus and not to somebody even further down the food chain. If you refuse the higher interest rate there's a risk you could be sold on again as if you were a bad debt.

Citibank don't give a toss because they're out of the market now.

tonyban

i stopped using the original card and my wife was to pay each month with a bit off the lump sum. we had no letters or new card - but notice came in two months later so we were classified as late payment - then same think with citibank to opus - only a recent phonecall from opus saying we were late again with a payment.