Hi °C | Lo °C ConsumerS will be hit with a new round of credit card and overdraft rises.
From next month, Danske Bank customers face higher credit card and overdraft rates and a cut in savings rates.
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.
Now Danske Bank said its card rates would rise by up to 1.75pc from April 15.
The rises will see the rate for both purchases and cash advances on its MasterCard Standard card jump to 12.50pc. If the cost of Government stamp duty is included, the new rate will be 17.31pc.
Overdraft rates will jump to between 12pc and 12.50pc.
The bank is also cutting the interest it gives to those who keep their current accounts in credit to between 0.25pc and 0.5pc.
Irish Independent
