Interest Rates Refuse???

provilo

I saw Martin Lewis on TV the other day and he said something about refusing an interest rate rise from bank if you don't agree.
As was concerned with something else at the time missed what he said.
Anyone know what it was.
And does it apply to credit cards as well?

BoGoF

Not sure what you mean in your first sentance....for example you can't refuse an increase in your mortgage interest rate.

You can refuse an increase in your credit card rate but that means you can no longer use the card after you do that. And there are time limits you have to refuse after being notified.

Do a search on 'rate jacking'

Sarah_Newton

i also could not understand what provilo meant by an interest rate refusal.