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Credit Card Interest Help Please
Matt_M_3
Posts: 20 Forumite
in Credit cards
Can a credit card company up your interest rates as they please??
If they can don't they need your permission first??
Matt
If they can don't they need your permission first??
Matt
0
Comments
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Nope, they don't need permission, in the original 'contract' it would have stated that they are at liberty to change the rate when they want to, and that they just have to tell you they are doing it, no permission required.I believe that I have the strength to make my dreams come true:T September Challenge £5 per day - £0/£150 :T0
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wannabedebtfree wrote: »Nope, they don't need permission, in the original 'contract' it would have stated that they are at liberty to change the rate when they want to, and that they just have to tell you they are doing it, no permission required.
Thankyou. But they do need to inform you they are doing it then?? Ive only found out when i saw the big interest jump on my new statement0 -
I think they should send a letter, but it probably varies from lender to lender, it depends on the original credit agreement.I believe that I have the strength to make my dreams come true:T September Challenge £5 per day - £0/£150 :T0
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wannabedebtfree wrote: »I think they should send a letter, but it probably varies from lender to lender, it depends on the original credit agreement.
thanks again.I will contact them0
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