{"id":567,"date":"2015-02-14T13:58:03","date_gmt":"2015-02-14T06:58:03","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-great-credit-card-rip-off\/"},"modified":"2016-01-03T15:10:03","modified_gmt":"2016-01-03T08:10:03","slug":"the-great-credit-card-rip-off","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-great-credit-card-rip-off\/","title":{"rendered":"The great credit card rip off"},"content":{"rendered":"


\nWhile the Bank of England base rate has been stuck on 0.5% for five years, the interest charged on card balances has shot up to nearly 19%Are you being ripped off by your credit card company? Figures from the Bank of England this week reveal that far from cutting interest rates to customers since the base rate fell to 0.5%, the banks have hiked the rates that millions of customers pay \u2013 in some cases by as much as a quarter.When the financial crisis struck in 2008, the average credit card customer was paying interest of around 15.5%, while mortgage borrowers were paying around 6% for a two-year fixed-rate deal. Seven years on, new mortgage customers are paying around 2%, but the rates charged on credit cards have headed in the other direction, and now average 17.8% \u2013 or nearly 36 times the base rate charged by the Bank of England. Continue reading…
\n
\nSource : theguardian.com
\nRead more…The great credit card rip off<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

While the Bank of England base rate has been stuck on 0.5% for five years,...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-567","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-99","jetpack-related-posts":[{"id":70482,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/nationwide-to-pass-on-interest-rate-rise-to-mortgage-customers\/","url_meta":{"origin":567,"position":0},"title":"Nationwide to pass on interest rate rise to mortgage customers","date":"October 31, 2017","format":false,"excerpt":"\r People on the building society\u2019s variable rates would see a 0.25% increase in their monthly bill, if the Bank raises the base rate to 0.5%Nationwide has paved the way for an across-the-board increase in mortgage costs by announcing that a 0.25% interest rate rise would be passed on in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":128486,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-does-the-bank-of-england-interest-rate-rise-mean-for-you\/","url_meta":{"origin":567,"position":1},"title":"What does the Bank of England interest rate rise mean for you?","date":"August 4, 2022","format":false,"excerpt":"\r From first-time home buyers to credit card users, we look at how your finances may be affectedThe Bank of England has voted to raise interest rates by 0.5 percentage points to 1.75% as the UK battles to prevent inflation running out of control. We look at what that means\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6992,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mortgage-rates-continue-to-fall\/","url_meta":{"origin":567,"position":2},"title":"Mortgage rates continue to fall","date":"March 6, 2016","format":false,"excerpt":"\r Borrowers still benefit from Bank of England cutting base rate to 0.5%Seven years of record low interest rates may have hammered savers, but borrowers are continuing to benefit.Yesterday marked the seventh anniversary of the Bank of England slashing interest rates to their current 0.5% historic low. And while the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":136624,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-interest-rate-rise-how-will-it-affect-you\/","url_meta":{"origin":567,"position":3},"title":"UK interest rate rise: how will it affect you?","date":"May 11, 2023","format":false,"excerpt":"\r The quarter-point rise to 4.5% hits mortgage holders, credit card users and people seeking loans, but savers could benefitThe Bank of England has yet again hiked interest rates, in the 12th consecutive rise since December 2021. This time the increase is 0.25 percentage points \u2013 taking the base rate\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":76320,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/housebuyers-benefit-from-profits-squeeze-on-mortgage-lenders\/","url_meta":{"origin":567,"position":4},"title":"Housebuyers benefit from profits' squeeze on mortgage lenders","date":"January 11, 2018","format":false,"excerpt":"\r Intense competition between lenders means customers have hardly noticed the 0.25% base rate rise, say brokersMortgage borrowers are benefiting from intense competition on the high street following the biggest squeeze on profit margins for two years.The Bank of England reported that in the final three months of 2017, the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":133016,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bank-of-england-interest-rate-rise-what-it-means-for-borrowers-and-savers\/","url_meta":{"origin":567,"position":5},"title":"Bank of England interest rate rise \u2013 what it means for borrowers and savers","date":"December 15, 2022","format":false,"excerpt":"\r Rate rise to 3.5% affects everything from mortgages to credit cards, loans and savings. Here is all you need to knowAnalysis: UK borrowers face a serious reality checkNews story: interest rates rise to 3.5%The Bank of England has once again raised interest rates \u2013 this time by 0.5 percentage\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/567"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=567"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/567\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}