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Barclaycard increase cash rate to 27.9%
nickmack
Posts: 4,435 Forumite
in Credit cards
Luckily for me, my Barclaycard account is closed, but I still got a letter from them this morning outlining changes from 1st August. These are partially in response to OFT report. Looks like they getting the money they're losing from late fees by increasing the cash rate, so be warned!!
Selected summary of changes:
The good
Default charges reduced to £12
Minimum repayment increased to 2.25%
The bad
Interest Rate for Cash Balances increased to 27.9%
Selected summary of changes:
The good
Default charges reduced to £12
Minimum repayment increased to 2.25%
The bad
Interest Rate for Cash Balances increased to 27.9%
0
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