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| Halifax credit cards deactivated on June 18 |
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Bank of Scotland (Ireland) has sent a second letter to Halifax credit card customers, advising them on their options on closing their credit card accounts.
The bank says that on June 18, all Halifax credit cards will automatically be deactivated and customers will no longer be able to use them.
It urges customers to make alternative arrangements by either opening a new credit card account with another provider and to transfer their credit card balance, or pay off their balance by June 18.
The bank says that if a customer is unable to repay the balance in full or switch to another provider by the required date, an alternative repayment arrangement will automatically be put in place to help customers to clear their balance.
This new repayment arrangement is being made available instead of a personal loan as it will be easier and more convenient for customers.
Customers will be able to pay a set amount each month off their balance. This new fixed monthly payment will be recalculated and fixed at 3% of the outstanding balance as at June 18.
From this date, the interest rate on the balance will be reduced to a variable rate of 10% APR from the existing Halifax Credit Card rate of 13.4% APR.
Bank of Scotland (Ireland) urges customers who are currently in arrears on their monthly credit card payments to contact Halifax immediately to discuss options available to them to bring their account up to date.
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| Contact: |
Dan |
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000000 |
| Address: |
Cork |
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