Financial Services > Credit Cards > Credit Cards News

Credit card rate cut

Thu, 05 Feb 2009

Financial services company Barclays have frozen interest rates on their credit cards range and also pledged to help their customers whether the current financial situation. For the next four months, there will be no further credit card interest rate increases. For some 3 million low risk customers, rates will be reduced by between 2.5 and 5 per cent.

Barclays has established a new helpline for customers in financial hardship, and promised not to contact these customers if they are working closely with Barclaycard advisers. The chief executive of Barclaycard, Antony Jenkins, reportedly commented: "We recognise that 2009 is going to be a difficult year for many people and want to do what we can, when we can, to help our customers."

Moneyfacts expert Michelle Slade reportedly said: "Barclaycard is one of the biggest names in credit cards and it is a welcome move that they are leading by example and not only freezing customers' interest rates, but in some instances reducing them. In the last year the range of cards offered by Barclaycard has become very competitive and this move shows commitment to their customers. Hopefully once the four-month period has ended Barclaycard will continue this commitment and not suddenly make hefty rises on their cards ."
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

Choose a credit card

Choose the perfect card

Choose the right credit card for you and apply with confidence.

Choose a credit card