Bank of ireland increased credit card interest rate by up to 4%

The media has been extremely critical of these new charges and the timing thereof. What all the coverage and comment has failed to point out is that if you clear your account monthly by the specified date no interest will arise. In my humble opinion one of the main factors that have given rise to all personal debt problems is high limits on credit cards and people not clearing the balance due. If you dont do this you are trapped in very expensive debt which most people will find it hard to get out of.

You are correct dewdrop but this is a blatent attempt at profiteering by BofI to which I take great exception to. They sat down and said when can we bleed them dry the most. I hope some consumer advocacy groups will be vocal on this. The timing is just so sickening.

Bronte said:

You are correct dewdrop but this is a blatent attempt at profiteering by BofI to which I take great exception to. They sat down and said when can we bleed them dry the most. I hope some consumer advocacy groups will be vocal on this.

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Anyone who saw Richie Boucher's performance at the Finance committee will now that he couldn't give a toss about opinion. He has utter contempt for those who question him. The smugness of the guy, who was a director of BOI at the time of the Bank guarantee and a lender during the madness years, is beyond belief. He's one prize banker.