Don't stand for changing credit card rates
If you're unhappy because your credit card provider keeps chopping and changing what their offering, you don't have to stand for it.
The Government now says something needs to be done about this, they reviewed credit card lending practices in the UK and criticised the practice of what's known as 'risk based re-pricing'; which is when lenders change your interest rates if they think your circumstances may pose a higher risk than before.
The UK Card Association has promised to make life a bit easier for card holders; however they're no staggering revelations.
Firstly they will give you more notice and if your interest rate goes up, you'll also be given sufficient time to close your account or be offered an alternative product.
Secondly companies have agreed not to increase rates based on risk during your first twelve months with them.
Thirdly they'll also be producing a leaflet to warn customers about risk-base re pricing.
You may still need to consider switching your account but if you feel you've been treated unjustly, you can refer to these promises above before taking further action.