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2007
Credit card rates rising
Monday February 4, 2008
The banks and other financial institutions raising credit card interest rates with little fanfare are hitting Australian credit card holders hard in the hip pocket.
The National Australia Bank (NAB) is the latest bank to raise interest rates on their credit cards with interest rates hitting 19.97 percent.
Its not just the main banks, GE Money raised credit card rates on their "low interest" Mastercard credit cards by a whole one percent to 11.99, just in time for your Christmas shopping spree.
Hopefully GE Money credit card holders weren't short of cash because the cash advance rate also went up from 19.49 to 19.99 percent.
