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The Independent UK

Business

Vicky Shaw

Warning as typical credit card borrowing rate reaches 20-year high

Rachel Springall

Credit card interest rates have soared to their highest point in at least two decades, new data reveals.

The average annual percentage rate (APR) for credit card purchases hit 35.8 per cent in February, marking the highest figure recorded since financial information website Moneyfactscompare.co.uk began tracking these statistics in June 2006.

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