Don't let your anger make you do something to spoil your good record.....just open another account.

You'll find all financial institutions will treat you like this, use it to your advantage, take their introduction offers and then move on. When you get good at it you can join the "Rate-Tart" club...........*grin*

Thats very good advice. I will deal with it now.

But I am angry because despite keeping my account in good order they still hike my apr to 30.9%. I thought if you kept good control of your finances you were generally rewarded with low rates and relatively cheap credit etc....seems I have a lot to learn.

Thanks for your help.

thomas2009:

If anyone has any advice for me it would be appreciated

Why the rant? That's their proposition. They have told you the rate and what you can do next. Anyone, even today, with flawless account management will have no difficulty getting a replacement. For the moment you are only excluded balance transfer to other MBNA cards. Plenty more fish listed on Moneysupermarket.com

Deal with it now as you should have a year ago.

So I have had a Virgin credit card for just over 3 years now and management of my account has been flawless(as with all my financial accounts) - no missed payments,no going over limit etc...yet Virgin credit card just seem to keep hiking my interest rate up and up.

The card started out at 15.9%apr but within about a year they hiked it up to 20.9%apr. Then about a year later it went up to 24.9%apr. Today I get a letter through the door informing me as of the May 2009 statement its will be going up again to 30.9%apr!!

And basically the letter went on to explain that I could ring up and tell them that I can opt out of this increase but if I did my card would be cancelled and I will no longer be able to use it. I feel totally disgusted that they are allowed to behave like this. If anyone has any advice for me it would be appreciated

And this is also a warning to anyone who takes out a Virgin credit card. Enjoy the intro rates by all means,but when the introductory periods are over cut that card up and tell Virgin where to go. Thats my advice.

Thanks for reading.