Today we are looking at a story on household debt pressure. Lloyds, Halifax and MBNA customers are being warned that credit card interest rates are going up, and for anyone carrying a balance, this is the sort of change that can quietly make debt much harder to clear.

What’s Happening?

Some customers with credit cards from Lloyds, Halifax and MBNA are being contacted about a rise in their borrowing costs. The increase applies to standard purchase and cash rates for affected account holders, not to everyone across the board. Customers are also said to have a 60-day window to reject the change. If they do, they can usually continue repaying their existing balance at the old rate, but they will no longer be able to use the card for new spending.

That opt-out point matters because it changes the decision borrowers face ...