Lloyds increasing my interest rate!!

[Mickb1969]

Hi, I got a letter today that to be honest, is a bit of a surprise. Lloyds are informing me that they will be increasing my CC interest rate by another 5%. They say "Credit reference agencies have told us that your financial status has changed. So we reviewed your recent credit history, and how you've managed other products you may have with us, including any loans. As a result of this, we have increased your standard interest rate".
Now, I do have a loan with them and I have just claimed back over £3000 for being mis-sold PPI. I wonder if that is what they have reviewed!!
My financial circumstances have changed, I have a better paying job. I had issues at the start of last year when I had my motorbike accident, but I coped well enough and never went into my overdraft!
As for credit reference agencies, I am registered with Experian and they send me both text and email alerts to let me know if there are any changes to my status. The last time I looked, my credit score had just gone back to Excellent after years of being rubbish.
So, I think this is linked to me claiming back the PPI premiums and they can poke the increase up their arses. I shall be writing to them telling them exactly this!
Cheeky f*ckers!!!

Mick

[Never-In-Doubt]

Re: Lloyds increasing my interest rate!!

I posted earlier regards rate jacking and refusal. It would mean closing the account to repay at existing rate.

[Never-In-Doubt]

Re: Lloyds increasing my interest rate!!

See here---> why is regulation so bad? - allaboutFORUMS

[oscar]

Re: Lloyds increasing my interest rate!!

To add on to Niddys post above - the letter (more often than not) is a generic one and pretty much bullshit. They just want more money, usually nothing to do with credit file information.