By Jonathan Rosenthal, Bloomberg
British credit card interest rates have declined an average of 2.6 percentage points over the past six years, a report showed, trimming lending profitability in Europe’s biggest market for consumer loans.
The average rate charged to credit card borrowers in the U.K. has fallen to 16 percent, from 18.6 percent in June 1999, London-based Datamonitor Plc said in a statement released today.
For this complete story, please visit British Credit Card Borrowing Rates Decline, Datamonitor Says.
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