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Credit card interest put up without notice - anyone experienced this?

(5 Posts)
BongoWinslow Wed 03-Aug-11 17:14:23

Have just spent half an hour of misery on the phone to the bank who have TWICE put my credit card interest rate up in the last 18 months without (in my view) notifying me. They say they sent me a letter (I don't think so) and that otherwise it would be on the statement (it isn't). The increases were last year (I only just noticed them as was busy with newborn baby and now doing the filing...) and they say only manage can access records for this time.

I feel so sure that they didn't tell me.

Has anyone else ever had this happen, or have I probably just not noticed the letters?

RockChick1984 Wed 03-Aug-11 22:36:31

In my experience I have always been notified of it, is it a reputable company? It's possible the letter was lost in the post, however your statements should always show your current rate of interest, if that had changed and you notified them immediately that you weren't aware of it changing they would probably have done something about it, however because it's been so long I think it's unlikely they will do anything, sorry. Even if you had been notified, all that you can do is refuse the increase, the card will be frozen and once your outstanding balance is repaid the card will be cancelled.

BongoWinslow Thu 04-Aug-11 00:03:41

thanks, that's helpful to know, RockChick1984

trixymalixy Thu 04-Aug-11 00:08:54

They normally do tell you. I think sometimes it comes in a little leaflet with your statement.

BongoWinslow Thu 04-Aug-11 00:10:26

Yeah, I think I must have just not read it as I get so much mail from the bank offering loans etc etc I tend to ignore it, especially when I'm busy.

That will teach me!

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