'Inertia' Interest Rate Rises - New Card Scam?

Dylanwing

The sooner people start to realise that a credit card (and associated borrowing power) is a privilege (with risks and costs attached) and not a right, the better the world will be !!!

Of course, the Banks Marketing makes this very clear as they show cardholders spending on holidays and other luxury goods........:rolleyes:

GreyPilgrim

Dylanwing wrote: »

Of course, the Banks Marketing makes this very clear as they show cardholders spending on holidays and other luxury goods........:rolleyes:

I know. The list of things that make my blood boil is endless...

"[substitute loan company name]* consolidated all my loans, and I still had enough left over for a great holiday" - Christ - if someone is so deep in bloody debt they need to borrow money off you you clear them, should you really be telling them to borrow even more to go away on holiday?

(* probably Lombard or Ocean Finance)

Spark

I had my two Abbey/MBNA cards shoot up to 18.9% from 9.9% and 11.9%.
I am a "small balance" roller as I use my credit cards more for extra or buying on the internet or for budgeting purposes, but I make sure that I can repay the lot if I experience a change of income.
I have just paid off my two cards as I will not use a card with such a high APR (compared to where the APR's were before) and now I am not using them.
I have applied for and got a 6.9% card and I am using that one mainly, with another one at 12.9%.
If those two last cards rise their APR's, they will go the same way as my MBNA cards.
Eventually I can go back to save before buying, or use the cards but pay the full balance every months, no problems.
If they want to be "responsible lenders" and adapt to "market conditions", knowing they can't blame anything on my "account conduct" as I never had a late payment, I can be a "responsible borrower" and adapt to the "changes" the lenders are implementing to my account too. Their loss, through.......