Card wars
Barclaycard, American Express and the TSB this week launched new credit cards offering different benefits to their users.
The American Express credit card, the first to be launched by the company in Europe, offers tiered rates of interest based on the amount spent.
Cardholders spending £1,000 or more in one year will pay 16.7 per cent APR. Those spending less than that will pay 20.9 per cent APR.
Barclaycard launched two cards, a Gold one for high spenders, with a minimum credit limit of £2,500, plus a separate Sense card which is aimed at more cautious customers needing a maximum credit limit of £500.
Interest rates on the Gold card, which will be available to existing customers by invitation only, will be 20.9 per cent APR. The Sense card charges 21.6 per cent APR.
The TSB card, which is aimed at the same market as the Sense card, has a three-tiered interest rate structure.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies