UK Credit Card Rates Reach Record in New Blow to Consumers
- Consumers tripled their spending on the cards in November
- Providers have been making terms less attractive for users
This article is for subscribers only.
UK shoppers taking out new credit cards face record-high interest rates on their bills.
The average annual percentage rate for the products is now 30.4%, according to Moneyfacts Group Plc, which began compiling the data in June 2006. That includes fees and is up from 26% a year ago.