Barclaycard Increases APR

trevrobwhite

Seems Barclaycard don't want to know

"Thank you for your e-mail.

I regret to inform you that we are unable to reduce the interest
rate at present or to freeze the payment on your account.

Also, if you wish to avoid to pay higher rate of interest, you can get
your account closed before 30 September 2012."

Looks like I've officially been rate jacked (and I'm jacked off as well), seems if you bust a gut so as not to miss payments they don't want to know. Thank-you very much barclaycard.

stephane_2

You can still keep your old rate of 16.9%....just close the account and continue making at least the minimum payment. However you won't be able to use the card again...

trevrobwhite

Barclaycard have come back to me saying:
"Our decision to change your interest rate was based on increasing cost of risk relating to your account.

This may have been prompted by a number of factors including the way you have managed your accounts with us or information provided by credit reference agencies."

Yes my credit rating may have gone down because I have applied for loans to clear this debt and been declined but I have still never missed a payment, so I can only assume they have based this on the fact I contacted them saying I was having payment issues and can they help (about two months ago), they said no they cannot and now they are trying to rate jack me.

Can they do this?

I am considering just stopping the direct debt and let the account go into arrears so they will help me through this difficult time, is that a bad idea?

BugsyBrowne

Yes mate they can not along ago a member asked his bank if they could reduce his APR as that month he was struggling later on that month his statement arrived with a credit limit decrease and APR rise.

trevrobwhite

It's well bad, however they have just called me after a lot of ranting via there emessaging system, they are freezing my rate for 12 months and have credited the account with £10 as a gesture of goodwill.

They couldn't answer my question as to why my account was getting jacked they avoided the question and offered that instead.

A result, I think I am going to have to sort something out long term however, I've already contacted the cccs, as it appears struggling on long term isn't going to work.

Thank-you everyone for you help in this.