Capital 1 cheques

Iggle_Piggle_5

hi everyone... please can you help...... we have some old cap 1 cheques that are fee free... which we were using to pay in large chunks to the mortgage each month... saving about £ 70 a month in interest... however they have just written saying that they are" changing their systems " and the fee free cheques will now attract a fee of about 3%...question is can they change the rules half way through the game as it were, or can we hold them to the original terms and conditions that existed when the cheques were issued. Thanks for your advice...
Campbell and Sue
:beer:

johnllew

Iggle_Piggle wrote: »

can they change the rules half way through the game as it were

Yes. It's a bummer but there's no arguing with them. Unless someone knows something I don't, in which case I'd love to hear from them as I have 7 year's supply of those cheques.

jonesMUFCforever

Yes they can unfortunately.

exel1966

They can change the terms and conditions at anytime relating to any matter which includes decreasing your credit limit/cancelling your account.

Pretty standard conditions for any card :-

18. Variation. In addition to variations expressly provided for by this agreement, we may change the terms of this agreement at any time or times to provide additional credit or other facilities or promotional interest rates; to reflect changes in market conditions, banking practice, the law, regulation or lending practice or developments in technology; for any other reason or on any other ground stated in this agreement or for any other valid reason which we will notify to you. As regards any change, we will give you at least seven days' notice in writing of any change to your advantage and at least thirty days' notice in writing of any change to your disadvantage.