Bank of Ireland Moneyback Gold MasterCard Cash Advances
The news for those of you that have to take cash advances from your credit card to get along has just taken a turn for the worse. It is never a good idea to take a cash advance from a credit card, as the interest rate is enormously high. The awful truth is that the latest news is that it is going to get much worse.
The Bank of Ireland Moneyback Gold MasterCard has just made it known that they are increasing the interest rate. If you took an advance prior to this notice you were paying 20.94% interest for this service. The truth is that now if you take a cash advance you will be paying 24.94% in interest. That is a 4% difference and it will add up.
The economy has certainly hurt everyone, and the credit card companies are complaining that they are losing money as well. The bad debts they have to absorb when someone defaults on a credit card have been one instance where the banks are getting hurt. So in their best interest they have decided to make matters worse and raise interest rates for the cash advance. Use your debit card instead.
Related posts:
- Ireland Central Bank Must Show Leadership In the face of the recent crisis globally as well...
- Credit Cards, Cash Cards, and Debit Cards There are a variety of different cards in use around...
- Ireland Needs Answers Like England, Ireland is suffering from the credit crunch and...
- A Look at Today’s Credit Cards Are you finding yourself a little short of cash? Some...
- Rewards Cards for Ireland The most notable rewards credit cards in Ireland are those...
Related posts brought to you by Yet Another Related Posts Plugin.