HSBC/Marbles/Aviemore

[Mr Mutley]

Hello All,

 

Apologies if this is the wrong place to post.

I have a credit card from what is now Marbles and has been transferred to the rip off merchants "Aviemore Funding". When the transfer was made, the interest rate was raised from 16.9% to 23.9%, now, just a few months later, they are raising the rate to 29.9%. What happens when I can no longer afford the minimum payments, will they be happy then I wonder. Is anyone in the same boat without a paddle?

 

Thanks

[Castlebest]

Credit cards have never been a cheap way to borrow money, if your not paying off your balance at regular intervals I would recommend you look for a cheaper loan type arrangement and dump the credit card.

 

pete

[johnnymitch]

meanwhile, why not consider transferring it to a credit card which is offering 0% interest on transfers for a period of months, one is offering 15 months at the moment I think....... that would give you breathing space and take you out of the clutches of the rip-off merchants.

[Mr Mutley]

Thanks both,

 

If only it was that simple. I only have one other credit card and that is HSBC and so they will not transfer as Marbles/Aviemore is part of the group. There is no point applying for a loan or card as Hutchison 3G have marked my credit file with a default, when in fact it was merely in dispute, but this is another story with HFO trying it on.

 

Regards.

[crazyfj]

yeah i'am the same, started at 9.9% then 14.9% then 22.9 and now 29.9%

 

had a bit of heated dicussion on the phone, waiting for there final response. had a nice letter says they cannot locate my original agreement (just wanted to read it)

[johnnymitch]

Have a read of this then crazyfj - no agreement - no debt..........

 

http://www.consumeractiongroup.co.uk/forum/legal-issues/131982-basic-information-credit-agreement.html%23post1387968#post1387968

[Mr.Dean]

I have one of these cards too. I am laso in the same rip-off boat with the extortionate interest being charged. One more rate hike and i will be in the unable to make the payments bracket. With the current credit squeeze obtaining a new card/loan may be tricky even for someone with a goodd credit rating.

 

So we'll see what happens next month.

[Rip Me Off Why Dont You]

Hi Guys, I'm new to this forum thing, but I'm so incensed by the highway robbery that the banks are getting away with that I just had to join & add my bit.

 

First the bad news: This month Marbles have put their rate up AGAIN - it's now (wait for it) 36.95%!

 

Now the even worse news: They've also increased the minimum payment, so it's a double whammy!

 

I was shocked when I got my statement. OK, I've got a fair sized outstanding balance, but I've always paid more than the minimum payment & always paid on time. However, this month, even after paying £250 on last month's bill, I actually owed more than I did last month!

 

When is the Government going to step in & stop this sort of blatant profiteering? I've always believed in paying my debts, but sometimes I feel like just giving up, declaring bankruptcy & letting everyone whistle for their ill-gotten gains!

[pedross]

Hi Rip Welcome to the forum This is your lucky day.

 

It is pretty obvious what the solution is here Rip. why dont you move your account somewhere else and pay this balance off, it must make sense.

 

Well it makes sense to Marbles / HSBC because the agreement is probably unenforceable and they are trying to push you over the edge before you find out.

 

Because now you have found out, you need to read other threads and send off for a copy of your agreement and this will start you on your way to writing off this debt.

 

You are best to start you own thread - 'Marbles I need help' or 'I need to lose my marbles' or something to draw in help.

 

Good luck I will keep an eye open.

 

ps If someone gives you good advice click on the scales it thanks them.

 

Pedross

[Rip Me Off Why Dont You]

Yes Pedross, the answer is obvious! However, due to my existing (high) level of debt (not an adverse credit rating) I would not be able to get another credit card (or a loan).

 

I'm therefore stuck between a rock and a hard place.

 

On the other issue, why would they want to "push me over the edge"? I would have thought, logically, that the last thing they would want is to kill the goose that lays the golden egg.

[pedross]

Hi Rip

 

Did you read the my post properly. I am trying to help you and the first bit was a sarky knock at Marbles not you.

 

Believe it or not the Goose is dead there is no golden egg. Most Marbles agreements are unenforceable and people on here are fighting Marbles to get the whole debt written off. They know this and are 'making hay while the sun shines'.

 

A lot of credit card debts are being cancelled out.

 

Pedross

[Mr Mutley]

Hiya Rip,

I had a stroke of luck with the Rip off merchants Aviemore when they transferrred their highway men from HSBC to Bank of Scotland. That meant Aviemore were no longer under control of HSBC and I was able to transfer the account to my HSBC card. After 2 months statements, the latest read £0.00. They even claimed 9p would you believe?. With any luck you will not have a signed contract and will be able to rip THEM off instead, good luck.