Jump to content


Sign in to follow this  
ukaviator

Average credit card purchase rate hits 19.1pc

style="text-align:center;"> Please note that this topic has not had any new posts for the last 2518 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

Despite the number of interest-free purchase and balance transfer deals on the market, the average purchase rate on credit cards has hit its highest peak for 18 months.

 

The average credit card purchase rate, which dipped to 18.1pc a year ago, had risen to 18.9pc one month ago and today stands at 19.1pc. This is the highest it has been for 18 months, according to Moneyfacts.co.uk. Consumers taking advantage of the abundance of balance transfer and interest-free purchase deals on the market should be aware that the purchase rates are being pushed up by lenders needing to maintain these offers.

 

 

Coupled with the interest rate hike, providers are also allowing customers to pay back less each month, therefore keeping the debt on the books for longer and acquiring interest for a longer period of time. With Christmas looming ever closer, many consumers will be relying on their credit cards to see them through the festive period financially. Rachel Springall, of Moneyfacts.co.uk, advised: “If in doubt, shoppers should opt for an introductory interest-free purchase card, which gives them some breathing space so they can focus on repaying solely the amount they have spent.

 

Link: http://www.telegraph.co.uk/finance/personalfinance/borrowing/creditcards/9671826/Average-credit-card-purchase-rate-hits-19.1pc.html


Some useful links.

FAQ's

Making Posts

Letter Template Library

Bank Contact Details

AQ Guide to Completion

Court Fees

Data Protection non Compliance

Witness Statements for Court Bundle

Banking Code Website

Limitations Act

Fast Track Costs

A-Z Index

Mis-Claim Tutorial

Step By Step Instructions

 

Remember: The Ark was built by amateurs-The Titanic by professionals.

 

Please click my scales if you find my advice helpful !

 

If your claim is successful, please donate 5% so that it can continue to help others.

 

Your decisions and actions are your own, and should you be in any doubt, please seek qualified professional legal Help.

 

WARNING TO ALL

Please be aware of acting on advice given by PM .Anyone can make mistakes and if advice is given on the main forum people can see it to correct it ,if given privately then no one can see it to correct it. Please also be aware of giving your personal details to strangers

 

HAVE YOU BEEN TREATED UNFAIRLY BY CREDITORS OR DCA's?

 

YOU CAN NOW COMPLAIN TO THE OFT ABOUT THEIR CONDUCT UNDER THE CONSUMER PROTECTION FROM UNFAIR TRADING REGULATIONS 2008.

Share this post


Link to post
Share on other sites
Sign in to follow this  

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...