Credit Card Interest Charges Are Increasing So It May Be Time If Possible To Clear As Much As Possible

16th October 2023

Credit Card rates for interest are gradually following the recent increasing in bank interest.

Royal Bank has begun informing customers that from from 29th January 2024 the interest rate for credit cards will rise to a new rate 22.440% from the current rate of 19.956%.

Other credit card providers are also increasing rates.

How can you pay less interest?
You can pay all - or part - of your balance at your current interest rate before the changes are applied on 29th January 2024.

If you have an outstanding balance on credit then it will be sensible to clear as much as possible hard as that might be.

WHICH offers some suggestions on what to do -
https://www.which.co.uk/news/article/credit-card-interest-rates-on-the-rise-5-ways-to-cut-the-cost-of-your-debt-aPBrI7D1QleX