IF trying to pull a fast one... help!

wolseley_2

I recently applied for a credit card from Intelligent Finance as I wanted to take advantage of their promotional balance transfer rate at 4.95% for life.

I was accepted, and they sent me the credit agreement to sign. I signed and sent it back the same day. Just over 2 weeks later I get another letter from them saying that they have not received the signed credit agreement, and sending me another copy.

Fine, I thought, the first one must have got lost in the post or during processing. Just as I was about to sign the new credit agreement and shove it in the envelope I got a sudden feeling that something wasn't right, so dug out my copy of the previous credit agreement they sent me.

So, the original credit agreement had the promotional rate listed at 4.95% for the life of the balance - but the new one has it listed at 6.95%. Both letters / credit agreements have the same reference number - but different rates listed - glad I spotted that one! Surely this is not allowed - the two credit agreements have exactly the same reference number and are for the same application.

I now suspect that they did receive my original application, but have decided not to honour the original rate they accepted me for so have tried to slip the rate increase past me in a very underhanded manner.

Are they allowed to do this? What can I do about it? (I have not phoned to speak to them yet as I would like you get some advice about where I stand first).

sicker

If I were you I would phone them and tell them they had sent the wrong replacement form and that you have a copy of the origonal. I would also request the call be taken by a team leader.

John

RTNI

Call the aplication line number and ask them to confirm wat the rate should be. I've just checked on the IF website and its 4.95% LOB if you transfer it within the first 6 months. Ask if they can send out a copy of the agreement to you again as you have conflicting information at the moment.

wolseley_2

I'd forgotten to check the website. You are correct RTNI, it does still state 4.95% there so I have no idea why my replacement credit agreement has it as 6.95%. Hopefully it is just a mistake so I will call them in the morning, but it still seems bad practice that their systems could let replacement documents go out with the same reference numbers but different content.