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Aqua
hadahardyear
Posts: 285 Forumite
in Credit cards
Hi there i have read on here since getting their new cards, some people have had an interest rate hike.
I havent had this letter, am still at 35.9%.
is this likely to change or will i still expect a letter x
I havent had this letter, am still at 35.9%.
is this likely to change or will i still expect a letter x
Save £300 in Jan £515/£300-Lose 10 lbs in Jan- 8/10,Cap One M/C £0/£200,Cap One Visa £0/£200
Aqua £470/£550, Vanquis £477/£1250,Bank of Dad £1668/£3500, legal aid £0 left, Littlewoods 0, Very £306/left,Choice £0/lefthave paid off in January 742.89
Aqua £470/£550, Vanquis £477/£1250,Bank of Dad £1668/£3500, legal aid £0 left, Littlewoods 0, Very £306/left,Choice £0/lefthave paid off in January 742.89
0
Comments
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The interest rate hike will take place in june! Your rate will go up0
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Not everyone will have an APR increase, you may or you may not. All you can do is ensure you keep an eye out for any notification so you can opt out if you wish to do so.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0
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Not everyone will have an APR increase, you may or you may not. All you can do is ensure you keep an eye out for any notification so you can opt out if you wish to do so.
thats what i thought Tixy, what does it mean by Opting outSave £300 in Jan £515/£300-Lose 10 lbs in Jan- 8/10,Cap One M/C £0/£200,Cap One Visa £0/£200
Aqua £470/£550, Vanquis £477/£1250,Bank of Dad £1668/£3500, legal aid £0 left, Littlewoods 0, Very £306/left,Choice £0/lefthave paid off in January 742.890 -
Sorry, opting out is when you are informed that your APR is increasing and you have 60 days to opt out of the increase. What this means is that you can keep any remaining balance at the old APR and continue to pay it off at the usual rate, but that you can no longer use the card for new purchases or transfers etc.
It can be useful for people who have a large balance they are not in a position to clear quickly.
There is a little article here about rate-jacking (as interest rate rises are also known) - Reject Credit Card Rate Hikes
A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0
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