Flybe Taking Off ?

EycplUK

Returned from a short break to find a letter from Flybe CC aka Sygma Bank aka Creation Finance informing me of rate changes to my CC details below ................
Purchases Existing APR 25.9% New Apr 29.9%
Cash Advance. ^ ^ ^ 32.9% ^ ^ ^ 34.9%
BT`s ^ ^ ^ 25.9% ^ ^ ^ 29.9%

Question : should i kick this card into touch by not accepting the new % rate ?
I got this card in my credit building program along with a Vanquis card , after careful use i now have a Nationwide & a BarclayCard which have a better rate by far than the flybe .
What will show on my Credit File report ?
All info welcome
Regards

AMG762

Hi,

I would consider how much money is owed on your Flybe card (if any) and are you likely to need the 'available credit' in future?

Dont forget if the balance is paid in full each month you pay no interest.

If you have money owed on the account then you can always refuse the interest rate increase which would result in the account being closed once the balance is repaid.

None of the above would have a negative impact on your credit files. The account would show as 'settled' once any balance is repaid and the account closed

bbfc

Awful rates. Get rid.

I would never touch anything by Creative Finance. They are absolutely useless and provide no help at all (speaking from experience).

BugsyBrowne

Do not accept 30% wether you pay in full or not.

Maybe sygma has to coup some of their lost revenue for giving everyone with a pulse their cards 2-3 years back, very unorganised company IMO.

Stick with B/C OP

EycplUK

Thanks for the replies folks ! all taken onboard and it looks like Flybe wont be taking off with my money !! :rotfl:

callum9999

BugsyBrowne wrote: »

Do not accept 30% wether you pay in full or not.

Maybe sygma has to coup some of their lost revenue for giving everyone with a pulse their cards 2-3 years back, very unorganised company IMO.

Stick with B/C OP

bbfc wrote: »

Awful rates. Get rid.

I would never touch anything by Creative Finance. They are absolutely useless and provide no help at all (speaking from experience).

I've had my second Creation card for a few months now (and had the Flybe for 15 months) and I've never had a problem - other than the rewards on the Flybe card being absolutely useless of course!

And no, you speak from virtually no experience on the matter. Short of you redialing 1000 times and speaking to a myriad of phone operators and managers, you can hardly judge a multinational finance company on the basis of you not liking them...

nomoneytoday

If you pay it off in full then the APR is meaningless IMHO.
Are there any benefits to the card that you use, such as free flights?

simax

I know this is a few months old but relevant....

I got a letter too yesterday saying my APR is going up from 19.9% to 22.9% and cash advances going up from 22.9% to 27.9% within 60 days.

To be fair it's not my main card (use it once in a blue moon) and I've always paid in full so never paid any interest.

They could increase the rate to 99.9% for all I care, doesn't bother me. However what I may do now is once a month I will pay 1p off one of my bills with the card so they have to send me a statement and manage my account

chanz4

99p min normaly

alfred64

Creation/Sygma have increased interest rates on most of their cards soon after the initial interest free period has finished.
In my case, where I have carried a balance I have opted out and closed the relevant accounts. I have had no problems in obtaining replacements with other cards from them and benefiting from more interest free months.

callum9999

simax wrote: »

I know this is a few months old but relevant....

I got a letter too yesterday saying my APR is going up from 19.9% to 22.9% and cash advances going up from 22.9% to 27.9% within 60 days.

To be fair it's not my main card (use it once in a blue moon) and I've always paid in full so never paid any interest.

They could increase the rate to 99.9% for all I care, doesn't bother me. However what I may do now is once a month I will pay 1p off one of my bills with the card so they have to send me a statement and manage my account

Why? A computer sends you a statement - Creation will neither know nor care. The only person you are inconveniencing is yourself...