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Evening Standard
Evening Standard
Vicky Shaw

Typical rate to borrow on credit cards has reached 20-year high, says website

Rachel Springall TSB
Shifting debts around is handy for those who want to grab interest-free offers, Moneyfactscompare.co.uk said (Dominic Lipinski/PA Archive) - (PA Archive)

The average rate charged to make credit card purchases has reached its highest level in at least 20 years, according to a financial information website.

The average credit card purchase APR (annual percentage rate) in February is 35.8% – the highest rate since Moneyfactscompare.co.uk’s records started in June 2006.

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