Credit Card News Barclaycard Customers Benefit From Flexi Rate 17739583
Barclaycard customers benefit from Flexi-Rate
05 October 2006
An introductory rate of zero per cent will be available for Flexi-Rate applicants from October 9th and will remain applicable for 12 months.
To off-set the offer to existing customers, Barclaycard has also announced a two per cent reduction to its base interest rate on the same card, making it 14.9 per cent APR.
Barclaycard Flexi-Rate rewards customers that pay off a higher proportion of their outstanding balance each month with a lower interest rate – a unique offering that, according to Barclaycard UK’s Amer Sajed, has made the account an attractive proposition.
“We are delighted that Flexi-Rate is continuing to change the way cardholders manage their borrowing,” Mr Sajed said.
“It is clear from our findings that using a card in this way has a positive effect on borrowing costs. By opting to manage their debts more responsibly, customers are rewarded by paying less interest and having the time taken to clear their balance reduced.”
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