On the British People’s Bank of Halifax hiking credit card rates

I have a mortgage and a credit card I pay religiously every month to the British People’s Bank of Halifax and to my surprise I received today an ugly piece of marketing literature. It didn’t even come in an envelope, so I almost discarded it, but close inspection made me realise that the content of the flyer was much important than the dress it came in.

Changes to your Halifax Credit Card Conditions

[…] The compound annual interest rates on your credit card will increase to the following:

  • Purchases 25.95% p.a. (variable)
  • Balance Transfers 25.95% p.a. (variable)
  • Cash Advances 29.95% p.a. (variable)
  • Credit card cheques 29.95% p.a. (variable)

The charges will apply to your account from your June 2009 statement date. […]

 

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