Onmo APR increased without notification.

Dazzauk83

Hi everyone,

I’ve been going through my credit agreement with Onmo and noticed something that doesn’t seem right.

My original agreement shows an APR of 22.46%, but when Onmo contacted me in March about an APR change, the email they sent listed my current APR as 24.9%, and said it would be increasing to 44%, which I declined.

I’ve checked through all my correspondence and can’t find any prior notice of this increase — there’s nothing by email or letter telling me that my APR was going to change from 22.46% to 24.9%.

Am I right in thinking Onmo should have notified me in advance before increasing the APR? And if they didn’t, can I challenge the extra interest that’s been charged at the higher rate?

Thanks in advance

eskbanker

Dazzauk83 said:

when Onmo contacted me in March about an APR change, the email they sent listed my current APR as 24.9%

But have they actually been charging that, i.e. is that what's on your statements?