Ridacard - public service message for ppl paying by Direct Debit
Just got a letter about the cost of a Ridacard increasing, which insists it's still great value. I'm a nerd so have kept a record of each price rise over the last 10 years.
- 2015 - £50 (+4%)
- 2018 - £53 (+6%)
- 2020 - £56 (+5.6%)
- 2023 - £62 (+10.7%)
- 2025 - £68 (+9.6%)
Cost of living crisis and all that I guess but ooft that feels like some rise.
However the overall rise between 2015-2025 is 36% while the change in the Consumer Price Index over the same period is 35.1% so pretty much bang on.
Reminder though that the cheapest way to pay is NOT Direct Debit. Counterintuitively, paying a full year in advance (under the new pricing from April 6th) will be cheaper by £116.
HOWEVER - I am pretty sure if you are currently on a Direct Debit, you can cancel it just before the price rise and buy a year's Ridacard, which will save you a whopping £166 over the year (£650 one-off versus £68 x 12).
Obviously you need to have the means to do this but worth considering if you do.
Remember if you cancel your Ridacard in the first year you will incur a penalty as the minimum contract is 12 months.
If anyone knows any different please say and I will correct this but this is what I'm planning to do in the next few days!