Thread: Egg Card - interest rate change

Hi,
I wonder if you could help me - I am unhappy about my Egg Card. I was among the many Egg Card holders that had their account cancelled. Recently my direct debit that I pay has gone up by over £60 per month and Egg have said that they emailed me to advise me, I have checked and the email does not clearly explain the situation.

Also, since I opened the account my interest rate has increased several times, I asked Egg to give me the history of this and they confirmed the following:

Opened at 17.9%
Changed to 21.9% on 8 Sept 2006
Changed to 24.9% on 9 Apr 2007
Changed to 26.9% on 13 Dec 2007.

As you can see, the last change took place shortly before Egg cancelled the accounts!
I would like to complain about this but am unsure as to my rights. Surely this sort of practice is not considered fair??

Is anyone able to offer me any advice?

Thanks

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Unfair Terms in Consumer Contracts Regulations and the Unfair Relationships provisions in the Consumer Credit Act potentially apply.

I'll post later to explain more.