Aqua interest hike

[Deleted User]

kaMelo said:

maxjak said:

Hi, After making a compliant as regards the interest hike, Aqua have now advised, in writing, that there will now not be an interest increase.
I paid the card off in full as many advised, i will use and pay in full from now on anyway.

Have they kept the card open?
Normally rejecting interest rate rises will lead the lender to close the account to new spending, allow you to pay of the balance with any interest at the old rate and once cleared, close the account. 
If they've rolled back on an interest rate rise and kept the card open for future spending then that's most unusual.

Aqua have a 'save' list of accounts where they will revert to the existing rate and keep the card open. It's fairly standard on reprices.

Mrs_Ryan

I think Newday have taken a massive hit with the Debenhams cards and so they’re increasing interest rates to cover it. They told me mine had gone up because I ‘misuse my account by making cash withdrawals’- nope, never made a cash withdrawal and I told them if they had a look at my statements they would see that. Then they tried that ‘oh you’re misusing your other credit’ nope, no misuse anywhere. All up to date, no missed payments/over limit anywhere. 

When I mentioned the Debenhams card fiasco, you would expect them to vehemently deny it if it were untrue,  Absolute silence. I think that said it all. 

Given the call queues I think they’ve done it to a lot of people. 

[Deleted User]

Mrs_Ryan said:

 

When I mentioned the Debenhams card fiasco, you would expect them to vehemently deny it if it were untrue,  Absolute silence. I think that said it all. 

It's not directly connected to Debenhams. Reprices are scheduled in for the year far in advance.

Dandytf

Aqua have raised cash withdrawals fees from early 21' 5% £4 Min.

floppydisk1

I think that anyone and everyone who has a credit card and is on MSE read how to use credit card, especially credit builder / high interest one. If we all follow the advice given time and time again - 10 %, 33.4 % or 88.88888% per annum means nothing when paid in full. High interest / credit builders card are NOT to be used as  a revolving credit option. Pay in full either by direct debit or manually after each month statement and whatever %  your credit card provider come up with means nothing at all for you. 

callum9999

Mrs_Ryan said:

I think Newday have taken a massive hit with the Debenhams cards and so they’re increasing interest rates to cover it. They told me mine had gone up because I ‘misuse my account by making cash withdrawals’- nope, never made a cash withdrawal and I told them if they had a look at my statements they would see that. Then they tried that ‘oh you’re misusing your other credit’ nope, no misuse anywhere. All up to date, no missed payments/over limit anywhere. 

When I mentioned the Debenhams card fiasco, you would expect them to vehemently deny it if it were untrue,  Absolute silence. I think that said it all. 

Given the call queues I think they’ve done it to a lot of people. 

I'd be shocked if a random call centre agent had the slightest idea what happened with the Debenhams cards. I don't think I've ever worked with "low level" employees who had any interest whatsoever in what the company is doing elsewhere! They certainly exist (I'm often one of them), but they're very rare. I think the absolute silence says "I have no idea what you're talking about and have zero interest in exploring this"!

I'm curious what the fiasco is though, I've not seen anything? If it's just Debenhams closing down then I'm sure they'll miss the business, but I'm not sure it's particularly crucial to them? Maybe I'm missing something?

MiraculousM

Can i ask a stupid question? I have noticed something about international fees (which i was using it for..not because i had bad credit).. have these changed too?