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I have receieved a letter this morning from IKANO Financial Services advising: With effect from 1st August 2010, the concessionary APR for all purchases made on your card since 1st April 2008 will be increased to 27.5% APR variable and interest on all new purchases made on your card after 1st August 2010 will also be charged at this rate.
I very rarely use the card, and whilst there is a small balance on it i cannot pay it all off at once but nor do I want to have to pay more interest.
Can I advise them that I disagree with this change and will not accept and also advise that I will continue to make the minimum payment until the balance is cleared?
