Glo Increases Interest Rate of "Borrow me Credit" to 15%

And Glo is in the news again!

Barely 24hours after discontinuing its Blackberry Internet Services (B.I.S) (Read HERE if you missed the news), Globacom have decided to break the hearts of its subscribers once again.

In a text message sent to Glo subscribers this afternoon, which reads “Dear customer, Please note the service charge on Borrow me Credit recharge will be revised to 15% starting from 21st Dec. 16.”, Glo alerts subscribers that starting tomorrow, charges on airtime borrow under their “Borrow Me Credit” scheme will attract a service charge of 15%.

Read more ===> Glo Puts an End to Blackberry Internet Service (B.I.S)

In plain and simple terms, any N100 airtime borrowed attracts a N15 service charge. N200 attracts N30, a service charge of N75 follows a N500 airtime loan.

Moving backwards a bit into memory lane, it would be recalled that Etisalat started the 15% service charge trend, Airtel took the baton, now, it is definitely clear in crystal colors that Globacom has followed suit.

Now do we blame this on “Recession” or the need to step up their game? Or just a “copy and paste” game by Globacom?

Let us know your thoughts in the comment section.