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Wednesday 20 August 2014

Danske hikes credit card interest rates

Charlie Weston Personal Finance Editor

Published 17/04/2013 | 04:00

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BUYING goods and services using a credit card is getting more expensive after Danske Bank became the latest to push up interest rates.

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The Danish-owned bank put up the rates on a range of its credit cards by around 2pc with effect from Monday.

Simon Moynihan, of price comparison site Bonkers.ie, said the bank had two of the best value cards in the top three – before the hike.

But it now has just one card – the MasterCard Platinum – in the top three for best value.

The bank, which recently changed its name from National Irish Bank, said the changes were the first in more than three years.

But experts have predicted that other banks will follow suit.

Bank of Ireland hit its credit card customers with rises of up to 4pc during Christmas week. And last summer MBNA pumped up its card rates by the same percentage.

MBNA has been taken over by Spanish company, AvantCard.

Irish Independent

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