Tuesday, Jul 15, 2008
UK PLC finally skewered on the kebab stick of Debt!
Telegraph: Red alert as overdrafts hit record rate
Even people who are savvy about credit card rates often don't have a clue how much they are paying for their overdraft. A big mistake, writes Kara Gammell, when the downturn is putting pressure on our wallets
Cash-strapped Britons are turning to their overdrafts to help them through the economic crisis - yet rates are at their highest for 11 years.
New data from the Bank of England shows that the average authorised overdraft rate on a current account leapt from 17.4 per cent to 17.9 per cent during June - despite the Bank keeping base rates on hold.
Posted by tyrellcorporation @ 12:15 PM (446 views) Add Comment
3 Comments
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1. hpwatcher said...
I think there still are a few very nasty shocks coming out way......
2. paul said...
David Smith's EconomicsUK.com: Debt won't bring down our house of cards
Hmmm. Still waiting for that monkey to produce some Shakespeare then ...
3. Djc said...
I'm not paying anything on mine... hehehe :)