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One hand giveth... Wizard hammered for credit card rate rise

3/09/2008 11:10:00 AM.  | Kelly Fedor

Wizard has defended its decision to increase credit card interest rates after receiving praise for dropping its home loan rate independent of the Reserve.

Consumer Groups have blasted the lender for the increase of 2.75 percent.

But Wizard says the hike for new customers is necessary to ensure they can continue to waive the annual fee and offer 55 days interest fee.

More to come...

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COMMENTS

Wednesday, 03 September 2008

St. George are also playing silly buggers, We got a letter in July to say that the rate will increase by .20% and the increase will take effect from the 24th.September 2008, I phoned them up today and was told the following, Our rate will increase in September 2008 by 0.20% but the reduced rate 0.30% will not take effect until 24th.November 2008 so in fact all we get is a 0.10% reduction; What has Swanney and Rudd got to say about that, St.George are working a swifty move here:

Posted by: Kermit Frog,

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