Amex at 46% interest!!

Do you still think your bank loves you? Think again.

Even though the Bank of England and other Central Banks are slashing the rates of borrowing, some financial institutions are doing just the opposite.

American Express has increased the cost on borrowing on its British Airways Premium Plus card to 46% - more than 30 times the Bank of England base rate – which has been slashed to 1.5%.

Here are the facts: to your bank(s), you are just a number and the numbers don’t add up, they increase their rates no matter what you feel, credit crunch or not.  It is your duty to get yourself from the ‘yoke’ of the debt you have with them.

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