This seems a large increase?

[Deleted User]

If you have no intention of paying interest then why bother kicking up a fuss and messaging them about it?

Or was it to just prove a point?

MisterBaxter

WaltD wrote: »

I sent a "secure message" to them saying their interest rate was no longer competitive, as it will be considerably higher than most other providers' rates, and asking them if this is the best interest rate they can offer me.
I received a rather abrupt reply, saying that if I was not satisfied with the proposed interest rate they would close my account and I should cut up my card!
WaltD

I have no choice but to pay my Virgin card in full each month because I spend less than their £25 minimum payment on it each month. Perhaps they are trying to offload the unprofitable customers but rather than pushing them are hoping they will jump. My rates went up from 17.x% to 20.x% (can't remember exact figures).

I will be keeping my card live, if they want to get rid of me then they can but unless they introduce an annual fee I don't see any point in closing my account.

WaltD

!!! wrote:
> Or was it to just prove a point?



Yes, it was.


Any objections?

Emily_Joy

A4445 wrote: »

Are limits of 15k really necessary? Unless you have a massive purchase?

Such as a car

My already high limit with AMEX has recently went up by more than 100% without me asking for it.

MisterBaxter

Not sure if things have changed since the fee cap but car dealerships didn't take, or certainly didn't like to take credit cards for vehicle purchases.

I suppose having access to £15k+ could be useful if you were refurbishing a property.

Wellard_Mann

MisterBaxter wrote: »

I suppose having access to £15k+ could be useful if you were refurbishing a property.

Exactly what I used mine for. The only other time I've pushed that particular card up to near its limit was for some emergency medical treatment. On a day to day to basis I don't need that kind of credit line.

NaughtiusMaximus

beany_bot wrote: »

My AMEX limit is more than half my annual salary. which, (considering my mortgage etc) I would say is pretty irresponsible of them. Alas I'm not complaining as it keeps my utilisation low.

I applied for an Amex card for cashback purposes 6 weeks after I exited a DMP (no defaults on my credit file but plenty of arrangements to pay which do generally count against you), the only other card I had at the time was a Vanquis card with a £1000 limit.

I was gobsmacked when they offered me a £9900 credit limit, although also a little puzzled as to why they didn't just add the extra £100 to call it 10k.