I was contacted by phone to apply for a credit card. The solicitor discussed a low interest rate and I agreed. But when I received the loan/credit card, the rate was higher. Can the bank do that?
Yes. The solicitor should have explained the steps the bank will take once you apply. Generally, the bank will review your credit report and the information you provide to determine if you meet the criteria for the offer. After the review is completed, you may not qualify for the terms that you requested—or even for the card itself.
