Comments on: Are Banks Targeting Good Payers In Credit Squeeze And Is It Starting To Affect Online Shopping? http://www.keithbond.co.uk/are-banks-targeting-good-payers-in-credit-squeeze-and-is-it-starting-to-affect-online-shopping/ UK Affiliate Marketing Wed, 25 Jan 2012 23:34:59 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Shane http://www.keithbond.co.uk/are-banks-targeting-good-payers-in-credit-squeeze-and-is-it-starting-to-affect-online-shopping/comment-page-1/#comment-4480 Shane Thu, 04 Dec 2008 20:50:41 +0000 http://www.keithbond.co.uk/are-banks-targeting-good-payers-in-credit-squeeze-and-is-it-starting-to-affect-online-shopping/#comment-4480 Yesterday I had a letter from virgin notifying me that my card interest rate would be rising to 29.9% APR.. their standard rate is 16.6% so they now expect me to pay almost double that with a great credit history.. I don't think so! It happened around March time, I rang up and asked why.. bearing in mind my credit record is (now) great and I had a balance of around £4k across cards with combined limits of over £75k, I asked just how good one's credit history had to be to get the standard rate and she did cave in and say they'd fix it at the current rate I was on, I inquired and was told it was around 24%.. I hadn't really noticed the hike from standard to that rate either. The card companies are going to squeeze the good credit history users now more than ever, many will just wear it too, I'll use cards for online purchases but pay them off when the bill comes now, I've been lazy in the past and paid for it but I wont be wearing 30% APR that's for sure ! Yesterday I had a letter from virgin notifying me that my card interest rate would be rising to 29.9% APR.. their standard rate is 16.6% so they now expect me to pay almost double that with a great credit history.. I don’t think so!

It happened around March time, I rang up and asked why.. bearing in mind my credit record is (now) great and I had a balance of around £4k across cards with combined limits of over £75k, I asked just how good one’s credit history had to be to get the standard rate and she did cave in and say they’d fix it at the current rate I was on, I inquired and was told it was around 24%.. I hadn’t really noticed the hike from standard to that rate either.

The card companies are going to squeeze the good credit history users now more than ever, many will just wear it too, I’ll use cards for online purchases but pay them off when the bill comes now, I’ve been lazy in the past and paid for it but I wont be wearing 30% APR that’s for sure !

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