British lenders hike rates on 21 different credit cards

British lenders hike rates on 21 different credit cards

As per reports, British lenders hiked rates on 21 different credit cards in 2019. Credit card firms, including Barclaycard, Virgin Money, Halifax and Lloyds, all increased interest rates on purchases in 2019. The resulting average interest rate rose to a record high of 25.1%. This comes as Britain’s debt binge deepens. Figures last month showed credit card borrowing had surged by 40%.

Nomad
Nomad
michael zubas
michael zubas 4 months

If we put A cap on rates, then Card company's won't be so inclined to hand out card's to just about anyone. it worked well for the Credit Union Industry.

Skeptic
Skeptic 4 months

Borrowing soared. Borrowing unexpectedly drops in the same post. Clearly this is noise -- monthly fluctuations wish press woyld cover meaningful long-term trends.

Fin
Fin 4 months

Borrowing soars... Gives me flash backs to bout 2004...

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