• From The Debt Advice Bureau:

    Flexi-rate credit card rewards faster repayment with lower interest rate

    Barclaycard is testing a new credit card with a flexible interest

    rate, Repayment Rewards, designed specifically to encourage customers

    to repay their debts faster. It does so by lowering the interest rate

    the more of the debt you repay each month.

    The interest rate charged reduces the greater the proportion you pay

    off, meaning those who are constructively making efforts to get debt

    free can do so even faster.

    In the current trial, those customers repaying at least 10% of their

    balance are charged a 9.9% interest rate, but paying just the minimum

    2.5% payment will mean you receive a 16.9% interest rate. Those

    paying between 5% and 10% of the balance incur a 12.9% rate.

    The key premise to the card is that both borrower and lender are


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    Posted by Jon @ 2:25 pm

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