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Barclay (Old Morgan stanley) Card ever rising interest rates
Hi All,
I have a Barclay card as above, I am paying every month by DD not in areas no late payments paying just over the minimum can not afford any more but they keep upping my interest rate 28% NOW, how can they justify this when the bank rate is at an all time low, I feel like I am being robbed but can not do anything about it, I don't have the cash to pay the balance in full. Any suggestions on how to get them to stop with the interest rate rises.
Re: Barclay (Old Morgan stanley) Card ever rising interest rates
Consider the CCA route if the debt is large and you can not envisage paying it off. You will probably have a low credit scoring pay off being more money in your pocket if there is no agreement. Are there any charges you can claim back.
Any help and advice is offered in good faith, based solely on my own knowledge and on experience gathered from this site. I am not qualified to offer legal or financial advice, which you should seek from an expert before making any important decisions. My opinions are therefore offered without liability.
Re: Barclay (Old Morgan stanley) Card ever rising interest rates
Hi All,
Well, received a response to my request to lower the interest rate which was refused, so replied to email asking for the justification for the increase which I think is very unreasonable. I veiwed my account on line and noticed they do not state the rate they are charging you on there. Here they are trying to entice pepole to take out their cards with 12% interest rates yet charging existing customer rates more then double this surely this must be able to be challenged. I hope when we come through this financial crisiss people remember the Banks/Credit card companies that took the P*** and give them a very wide birth.
Seems to me that to compensate for the fact they can not longer dish out the credit to all and sundry they are going to fleece they ones they already sucked in.
Thanks for all your advice let's see what they come back with. I think I might just email them every day with a one line question as to why they are robbing the poor to pay for their sorry mistakes in the banking industry anyone got a group email address.;-)
Would love to start a chain email to name and shame.
Barclay (Old Morgan stanley) Card ever rising interest rates
rate 28% NOW, how can they justify this when the bank rate is at an all time low, I feel like I am being robbed but can not do anything about it, I don't have the cash to pay the balance in full. Any suggestions on how to get them to stop with the interest rate rises.
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