Barclaycard LOWERED interest rate!

udydudy

from the posts here looks like the liquidity is flowing back into the system!!!. which would mean cheaper money in the shorter term!!.

I would say time to lock into cheaper rates(borrowers) for the longer term!!

Indestructible

I have a letter today advising that my interest rate has gone up from 16.9% to 21.9%. I allways pay off in full so doesn't really affect me and I only use it to get rewards, but does seem very odd. The letter says that this is due to them looking at my account closely and other financial information they have. They also say I can close my account if I prefer. Sounds like after pestering me to sign up that they don't want me any more :eek:

Thing is I am on a good wage and have no debts so they seem to have made something up to justify an interest rate increase.

BugsyBrowne

Indestructible wrote: »

I have a letter today advising that my interest rate has gone up from 16.9% to 21.9%. I allways pay off in full so doesn't really affect me and I only use it to get rewards, but does seem very odd. The letter says that this is due to them looking at my account closely and other financial information they have. They also say I can close my account if I prefer. Sounds like after pestering me to sign up that they don't want me any more :eek:

Thing is I am on a good wage and have no debts so they seem to have made something up to justify an interest rate increase.

Yeah they have looked at your account closely and realized you are paying them back in full every month and not making money off you..