hi all

[maxiblackie]

hi and thanks for the welcome enaid.
I have a few issues that i need help with regarding some of my credit cards having their interest rates raised to 34.9% :eek2: and my limits reduced so i can't transfer balances etc.
I need to read through a few more posts to see what i need to do.
thanks again
maxiblackie

[Amethyst]

Re: hi all

Ouch ! what company are you with ?


welcome to the site

[Mochamoo]

Re: hi all

Sounds like Egg to me, they've just done that to me.

[maxiblackie]

Re: hi all

hi,
well it started with mbna, hiked the rate to 35% or close the account and not use card at 34.9%....that was me over a barrell to start.
Then Egg has joined them, similar options.
and now, marbles has hiked rate to 29.6%.
I haven't missed any payments to any company, so i am a bit bemused about all the rate hikes.
I am aware of my credit/debt cards, but now i feel that i will never be able to pay off the remaining balances.
Phone calls to ask them to reduce my interest rate resulted in me getting no-where, and then a phone call from MBNA offering me a loan to cover the credit card balance from one of their lenders, first direct/choice or something like that.
so, feel like i am stuck between a rock and hard place.
I did try for a loan to pay off the balance, but was refused for some reason, it was with a company i had previously used for a loan, and had paid off as agreed, with no problems.
so? not sure of where to go from here?

[enaid]

Re: hi all

Have you tried to get balance transfers on new cards with lower percentage or indeed no int rate deals?
You just have to make sure they are not from same co before you apply ie Virgin which is MBNA

[maxiblackie]

Re: hi all

i applied for a capital one card and was refused. so now with the loan and credit card refusal, my credit file is not good. so i didn't think it was good move to have another search on my credit file for a while.?

[maxiblackie]

Re: hi all

After looking through the other posts, would it be reasonable to ask the credit card companies for my original agreement?

As i'm sure i wouldn't have signed up if a 35% interest rate was mentioned in the opening offer for credit.
Is this a practical way forward?
thanks

[Amethyst]

Re: hi all

Yes, I think its a good idea

[maxiblackie]

Re: hi all

hi, now i have had marbles increase my interest rate to 39.5%! What is happening to me? I have been paying my monthly fees for the last 4 years, and now all of my cards are above 29%. i will never be able to clear these cards now! This is a nightmare!
i am still paying the original creditors, and i have never missed a payment! I don't know how to deal with all of this now. Any help or advice would be great