Barclaycard Platinum cardholders' low rate interest rates increase from 13% to 24%.

Barclaycard Platinum cardholders face a near double of their interest rates on their "low rate" cards, with rates increasing from around 13% to 24%. The bank attributes the change to a credit scoring system update aimed at better managing risk and maintaining a sustainable level of lending. Customers have expressed frustration and surprise at the sudden increase, which was not clearly communicated by the bank.

April 29, 2024
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