We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
HSBC rate increase - can I do anything 3 years later?
lemoncheesecake
Posts: 84 Forumite
in Credit cards
Hi
We entered a DMP with payplan nearly 3 years ago. HSBC credit card accepted our reduced offer and we've been paying it ever since. However, I've stuck my head in the sand a bit with it all and only just started to have a look at what's happening with our account.
It seems that when payplan wrote to HSBC they immediately increased our rate to 29.9%. For some reason in March 2012 it reverted back to 6.5%. hardly any of our balance has been paid down as looking at the statements we were paying £68 a mth and only a tenner was coming off the balance. Is there anything we can do now and should they have done this given we were in financial difficulty?Any suggestions wouldbe most helpful.
We entered a DMP with payplan nearly 3 years ago. HSBC credit card accepted our reduced offer and we've been paying it ever since. However, I've stuck my head in the sand a bit with it all and only just started to have a look at what's happening with our account.
It seems that when payplan wrote to HSBC they immediately increased our rate to 29.9%. For some reason in March 2012 it reverted back to 6.5%. hardly any of our balance has been paid down as looking at the statements we were paying £68 a mth and only a tenner was coming off the balance. Is there anything we can do now and should they have done this given we were in financial difficulty?Any suggestions wouldbe most helpful.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.4K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.3K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards