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Increase in Interest Rate

silversaxman
silversaxman Posts: 8 Forumite
Part of the Furniture First Post Combo Breaker
in Credit cards
Hi

I have a 0% interest credit card with Barclaycard. Due to becoming unemployed I agreed lower monthly repayments.

However I have noticed on the statement that they are now charging me interest.

Can they do this? I thought interest had to be frozen when a payment plan was agreed?

Thanks
Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam

Comments

  • DevCoder
    DevCoder Posts: 3,361 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    No, its considered best practise but they don't have to freeze interest.
  • stator
    stator Posts: 7,441 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Did they notify you of the change? If they didn't point it out when you agreed the payment I would write a letter of complaint, it was clearly information they should have told you.
    Changing the world, one sarcastic comment at a time.
  • grumbler
    grumbler Posts: 58,629 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I am not sure that a notification was required in this case as the promotional T&C clearly state that the rate would revert to the normal one.
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