Why have you increased my interest rate?
Risk-based pricing is standard practice across the industry. Many credit lenders operate their business in this way. As part of this, we regularly review your account transactions, payment history and the information held by the credit bureaus. This assessment has resulted in an increase to your interest rate.
How often do you review my interest rate?
If we decide to change your interest rate, your account won't be reviewed again for 6 months.
If we do not change your interest rate, your account may be reviewed again the next month.
Have you carried out a credit search on me?
No. Although we use information held by the credit bureaus, we don't carry out any further credit searches after you first apply for your personal account.
Are you allowed to change my interest rate?
As set out in the terms of your credit agreement, we reserve the right to vary any part of the agreement, including your interest rate. You agreed to these terms when opening your account with us. If you don't want to pay the new rate, you can request to reject this change.
Why have you only changed my interest rate on one of my accounts?
This account is part of a selection of customer accounts that have recently been reviewed. If your other account/s become eligible for a review in future and we intend to make any changes, we'll let you know.
I'm not happy that my interest rate has changed, what can I do?
We understand that you may not be happy about the increase to the annual interest rate on your account. Please note that you can request to reject the change by completing this online form.
By doing so, you are rejecting the changes to the terms and conditions of your credit account and you will not be able to use your credit facility.
You can still continue to shop with us, but you must pay by card at the time of order.
If you wish to make a complaint, please click here for more guidance on how to do so.