Tag: credit card interest

Consumers holding back on borrowing

Consumers holding back on borrowing

Personal loan, credit card and overdraft borrowing is being repaid at the highest rate since January 2011. The British Bankers’ Association (BBA) reported net consumer credit repayments of £305 million in February. Consumers borrowed £7 billion on credit cards but £7.3 billion was repaid. The ongoing squeeze on household incomes is making consumers more careful [...]

March 23, 2012 | 0 Comments More
Virgin Money hikes credit card interest rates

Virgin Money hikes credit card interest rates

Virgin Money has increased the interest rate on credit cards for some of its customers from 16.8 per cent to 24.9 per cent. Following criticism of the move, the bank unsympathetically told the customers to either accept the increase, which amounts to nearly 50 per cent, or pay off their balances. The rates on balance [...]

March 14, 2012 | 0 Comments More