Argos Card Interest Rate

dann8924

Interest hike on the argos card. 29.9% to 34.9%.

Letter essentially advises this is due to increased running costs. 

Mainly affects you if you have a normal credit balance or your buy now pay later isnt paid off by end of term.

[Deleted User]

The interest rate will vary by customer - some will have more, less, or remain the same. There'll likely be a handful of decreases in there too.

funkycredit

Is this the credit card (NewDay) or the store card? I've both and neither mine are those rates.... 

Narola1976

Mine is 29.9%. Thank goodness I cleared that card as part of my snowball, the interest was crushing then, I can’t imagine how painful 34.9% is

Thorpee

I too received a letter last Saturday to inform me my argos card interest rate is going to rise from 29.9% to 34.9% due to increased running costs. 
Although increased running costs maybe the real reason, I can't help thinking 2 other personal factors may have influence.
In Januaury, I got approved for an ao account. This would have left a hard enquiry on my credit file which they may have seen.
Secondly, I have always paid of my argos card balance in full before interest is charged. Therefore, can't help thinking they are giving me a hint to close the account (does give that option on the letter), because they are not making any money from me.  

[Deleted User]

It won't be either of those factors.

jay1804

dann8924 said:

Interest hike on the argos card. 29.9% to 34.9%.

Letter essentially advises this is due to increased running costs. 

Mainly affects you if you have a normal credit balance or your buy now pay later isnt paid off by end of term.

i received a email about it today. It doesn't bother me because I don't carry a interest bearing balance

CRISPIANNE3

I too received email advising of increase interest rate. However like so many I pay the balance in full off each month.  

jimbo26

I also got email. No issue for me but seems to be across the board