The current cycle of rising interest rates may not affect credit card customers immediately, according to a spokesman for credit card company MBNA.
‘‘Unlike mortgages or savings products, credit card interest rates are not as directly linked to the base rate, so any changes in the base rate may not necessarily translate into changes in the interest rates on cards,” he said.
The spokesman added that the cost of funds was only...
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month
Then €19.99 a month after the offer period.
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Get a Business Account for you and your team