Barclaycard Interest - Linked to BoE Base rate from Feb 2016

liviboy

So just got this e-mail from barclaycard...thoughts?

We're making some important changes to your account

Hello Liviboy,

We're making some changes to the Terms and Conditions of your account. From 1 February next year, your interest rates will start to move in line with any changes to the Bank of England Base Rate.

What happens when the Bank of England Base Rate moves?

When the Bank of England Base Rate moves up or down, your standard and cash rates (the interest rates we charge on purchases and cash withdrawals) will also move up or down by the same amount.

If the Bank of England Base Rate does move after 1 February, we'll change your interest rates the day after your next monthly statement date. We put together your statement on the 5th working day of every month and you can also see it online.

What a change might mean to you

As an example, let's say the Bank of England Base Rate goes up by 0.25%. You'll then pay 21p a month more in interest for every £1,000 of your balance. This doesn't include your promotional balances as they aren't affected by Bank of England Base Rate changes.

liviboy

***APOLOGIES, DESPITE SEARCHING FOR BARCLAYCARD THE TOPIC DIDN'T APPEAR***

Already being discussed: https://forums.moneysavingexpert.com/discussion/5360481