Credit card illegal rate hikes?

djwilc1961

I had a call off a company last night asking if I had taken out any Credit cards before 2007? If I had I could get back the difference I have been charged on additional rates. They explained the agreement I had signed had been for one rate only and unless I had been sent something to sign to agree to an increase it was unlawful and I could get this back? Is this a scam? Has anybody heard of this before?

[Deleted User]

What does your instinct tell you?

Does your card agreement REALLY say it's just for one rate and can never be increased?

Do you think you'll get your money back if you pay someone who phones you out of the blue?

chattychappy

It is a scam and often gets asked about here. Credit card agreements always contain a provision permitting rate changes - they do not have to get you to sign something.

In recent times they have had to give you a chance to opt out in return for stopping further transactions.

Usually these guys will charge you an upfront fee which you have then effectively lost. This might be disguised - ie they might ask you for CC details for identity purposes but then charge it anyway.

Do not engage !

If you do have a complaint about the way the account has been operated, the best way to handle it is written complaint followed by (if necessary) referral to the FOS. For advice, stick to this forum and genuinely free agencies - eg CAB.

djwilc1961

Not at all but they did make it sound plausible, and there was nothing to pay upfront! It set alarm bells ringing when they told me I could cancel DD'S once I had signed the agreement I'm sure that would be a really daft thing to do. People could get into serious difficulty with this company.

djwilc1961

Thanks I will steer clear and get some free debt advice and solutions to my debt problems. Thanks again

chrisjw37

SCAM

Run like hell

Slimmer2012

Im sorry put im not replying to your thread im just wondering if you could tell me how to post a thread im new to this site thank you

[Deleted User]

click this button when you're in the forum menu (ie the screen before you came to this thread)

It's towards the top left of the page.

bengal-stripe

On the top left of the 'board' you want to post in (Credit cards, Loans, etc.) you find a button "New Tread".

Click, write title and posting.