Sometimes we might need to change the interest rate on your credit account.
When you first apply for an account, we give you an interest rate based on your level of risk.
If we think there’s a low risk that you won’t pay back the credit we give you, then we give you a lower rate of interest, and vice versa.
We regularly review the level of risk on our customers' accounts, as well as monitoring for any changes in underlying costs. Therefore, your interest rate may change over time.
After the review, we will do one of the following:
- Increase your interest rate
- Lower your interest rate
- Keep your interest rate the same
If we decide to change your interest rate, we’ll always let you know first. We’ll write to you 30 days before we make the change.