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Credit Cards interest rates to rise

Tikay10Tikay10 Member, Administrator, Moderator Posts: 171,193
in The Rail

I received this missive yesterday from NatWest.



From 29th January 2024, your interest rate is increasing from 19.956% to 22.440%
Card ending: xxxxxxxx

Hello Anthony,

We’re making some changes to your credit card. Because of an increase in borrowing costs, from 29th January 2024, we’re increasing your interest rates.







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Comments

  • HAYSIEHAYSIE Member Posts: 36,463
    This is not a new thing, but how do you think they can get away with such ridiculous rates?
    I used to use my credit cards an awful lot while I was working, but not at all since I retired.
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  • Tikay10Tikay10 Member, Administrator, Moderator Posts: 171,193
    HAYSIE said:

    This is not a new thing, but how do you think they can get away with such ridiculous rates?
    I used to use my credit cards an awful lot while I was working, but not at all since I retired.

    I have no idea Tony.

    I have a credit card which I've used for stuff like Sky Subscriptions from way back in the day, but as soon as the charge appears on the statement I snap pay it off. Those rates are outrageous.
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  • HAYSIEHAYSIE Member Posts: 36,463
    Tikay10 said:

    HAYSIE said:

    This is not a new thing, but how do you think they can get away with such ridiculous rates?
    I used to use my credit cards an awful lot while I was working, but not at all since I retired.

    I have no idea Tony.

    I have a credit card which I've used for stuff like Sky Subscriptions from way back in the day, but as soon as the charge appears on the statement I snap pay it off. Those rates are outrageous.
    It has been going on for years.
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