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The Independent UK
The Independent UK
Business
Vicky Shaw

Credit card borrowing costs jump amid ‘onslaught’ of savings rate cuts

Moneyfacts Rachel Springall
PA Wire

The savings market has experienced an “onslaught” of rate cuts, while borrowers looking to put some of their Christmas spending on a new credit card may find that conditions have become tougher, analysis by a financial information website indicates.

The average one-year fixed-rate bond fell to 5.13% at the start of December, from 5.36% at the start of November, marking the biggest month-on-month fall since February 2009.

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