Abbey's done it again grrrr

dhassen

Hi folks

Just received my cc statement from abbey, and the !!!!!!s are raising my interest rate to 19.9% APR (from 15.9)......

Anyone else got this? Wondered if they're doing a cahoot, seems strange the only 2 products I've ever had to raise the apr to 19.9 are this card and my cahoot flexi loan...:mad::mad:

TheExpert

The most likely scenario is that they are doing major repricing across the board in order to reduce people's inclinatino to increase their outstanding debt with Abbey. This is very unlikely to be a personal decision resulting from any activity you have done on the card, and moreover, is most likely to be a direct outcome of you performing well, clearing your balance and not incurring any fees. In this case, you are not a profitable customer to Abbey and repricing of your APR is one way for them to try and increase their profits within a band of people with similar credit card spending patterns, history and credit score as yourself.

Hope this helps,

TheExpert

chongthecat

did you take your card through abbey when MBNA were managing them? If so you can bal transfer onto their new card and get 0% interest for 13 months. If not, bal transfer elsewhere!

dhassen

i got the card with mbna originally, but it's now managed by abbey...... I'm thinking about transfer options now..

and in response to TheExpert's post, it's strange because on that card I'm happily paying minimum payment and making them money so I don't really understand it!

Hopefully I'll get something to transfer to......