Average credit card rates shoot up once again
Posts Tagged ‘interest rates’
Average credit card rates shoot up once again
By admin | June 20th, 2009 | Credit CardsOver the past seven months the Bank of England base rate has declined to its lowest level in the three hundred and fifteen year history of the central bank, sinking to an all time low of just 0.5 percent, which is just a tenth of the level it was at in October of last year, [...]
Credit card increases could become reality for many
By admin | October 16th, 2008 | Balance TransfersAccording to a recent report a hike in credit card costs could become a reality for many cardholders in the UK, with many people finding that their interest free credit card periods are due to come to an end. A huge number of people have been taking out 0% balance transfer credit cards in order [...]
Should credit card customers ask for a rate cut?
By admin | October 8th, 2008 | FeaturedMany credit card customers already know how quickly interest charges on their credit card debt can add up, and for many this means struggling to maintain repayments on their debts, which seem to never clear because of increased interest payments that keep getting added on. Over the past couple of years many credit card firms [...]
Cardholder can do something about rate hikes
By admin | September 23rd, 2008 | Balance TransfersMost borrowers in the UK have become used to having to accept borrowing costs and interest rates without question when taking out finance, and therefore when credit card providers push up the borrowing costs and interest rates on our credit cards many of us don’t take any action but simply make the higher repayments. However, [...]
Credit Card Firms Keep Pushing Up Interest rates
By admin | September 22nd, 2008 | Credit CardsA recent report has shown that whilst the Bank of England has cut the base interest rate three times between December last year and April this year, and has kept the base rate on hold since April, many credit card firms have been increasing the interest charged for borrowing on their cards, making it increasingly [...]
How are credit card firms increasing rates?
By admin | August 5th, 2008 | FeaturedThere have been numerous reports of late that have shown that the cost of borrowing on a credit card was on the up, and whilst the interest rate is now at the same level as it was in 2006 the cost of borrowing on credit cards, and many other forms of finance, has rocketed during [...]
Understanding APR
By admin | January 19th, 2008 | FeaturedAPR stands for the Annual Percentage Rate. It is a standardised way of stating the interest rate you will pay for credit. On credit cards it will apply to carried over balances, that is, balances you do not, or cannot pay this month. It also applies to cash advances and sometimes to balance transfers from [...]
Interest rates fall to 5.5%
By admin | January 2nd, 2008 | GeneralThe Bank of England has announced that the base rate in the UK will be cut by a quarter point to 5.5%. In August 2006 the interest rate stood at 4.5%, but a series of five interest rates to try and bring rising inflation under control saw the base rate rocket to 5.75% within a [...]
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