I've been paying of the balance of my credit card with the Royal Bank of Scotland, paying an agreed amount every month by direct debit. I have kept up these payments without fail. I have now received a letter from them saying that they are increasing this payment to 2.5%. Previously I have filled out their forms detailing my income and expenses so they know I cannot afford the increase.

Are they allowed to do this?

Thanks for your help.

Tell them that they will.not be raising it as it was an agreed rate and you provided info to prove you couldn't afford it. I would keep repaying them at your current rate and let them cry if they don't like it. Of course this would mean you would likely have to have an account outside RBS as they could recoup the money from any account you hold with them

When did you take it out?

When did you take it out?

About 2010

When did your payment plan start ?

When did your payment plan start ?

About 2010

So you took the credit card out and started your payment plan 2010 ?

So you took the credit card out and started your payment plan 2010 ?

Sorry. I had the card since the 1990's. I lost my job due to disability in 2010

Okay this letter that states the intended increase...its not a template ? Your name and address and your account number ?

Does it state what you are currently paying per month?

CCA time if its from that long ago..no chance of a compliant CCA me thinks?

Okay this letter that states the intended increase...its not a template ? Your name and address and your account number ?

 

Does it state what you are currently paying per month?

No, it doesn't show my account number nor the amount I am repaying each month.

CCA time. If they cant provide a compliant CCA for it, then you wont have to pay them a single penny once theyre in default of your request. get the CCA request off first thing in the morning.

CCA time. If they cant provide a compliant CCA for it, then you wont have to pay them a single penny once theyre in default of your request. get the CCA request off first thing in the morning.

They say that they are (quote) "varying the terms of your Credit Card Agreement". Are they allowed to do this?

not if they cant find the signed agreement.

dx

They say that they are (quote) "varying the terms of your Credit Card Agreement". Are they allowed to do this?

Then I would suggest that this is a standard round robin informing customers on normal contractual payments of an increase...IE the minimum payment will increase by 2.5%...not you being on an agreed payment plan...ignore.

Cancel the Direct Debit and replace with a standing order. They cannot increase a standing order without you yourself doing it.