Santander

Stoneman_2

I received a letter from Santander recently telling me that my interest rate was going up from 18.9 to 21.9 etc for purchases and BT's, but strangely enough, the rate for cash advances was going down by 2%?

Am I being cynical, but is this a ploy to make drawing cash out more appealing?

I know drawing cash out on a CC is normally a no - no, but with the new payment hierachy, are there any benefits?

Love2Spend1986

I've noticed that the interest rate on cash has also changed. My "Cash limit"(think that's what its called) also seems to get bigger so I can use more of my credit limit for cash.

I still don't find it that tempting. What would you use cash for that you couldn't use your card or a bank transfer?

izools

If you have purchases on the card you're paying off over time you're best advised to "Opt Out" of the increase, which converts the account to repayment only at the existing APR without affecting your credit file.

Could save you a lot depending on your balance and how much you repay month to month.

When my mother called RBS to do this when they tried jacking her rate from 13.9% to 20.9% they actually offered to cut her APR to 9.9% if the left the account open!!