Tradefair & Financials
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Just received a letter saying they are putting the APR on my existing balance up by 4%. This seems a bit off considering the base rate is still at 0.5% and they are now charging me 24% APR.
Will cost me an extra £20 a month or so, but that isn't the point. Aren't they owned by RBS as well?
Just a word of warning as I imagine other credit card companies may follow.
Will cost me an extra £20 a month or so, but that isn't the point. Aren't they owned by RBS as well?
Just a word of warning as I imagine other credit card companies may follow.
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Somebody correct me if I'm wrong, but I think that the increased interest charge will only apply to future spending. Whatever you owe on the card currently should be subjrct to the previous interset rate.
According to my letter, my options are:
1) Go with the new rate on everything
2) Close card and pay off in full at old rate
3) Close card and pay off in instalments at old rate
1) Go with the new rate on everything
2) Close card and pay off in full at old rate
3) Close card and pay off in instalments at old rate
can you switch to another provider on a better deal? You should leave them on principle alone.
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