Setting straight credit card rate

Could I please draw your attention to an inaccuracy in a recent news story concerning the entry of People’s Bank to the UK credit-card market “US bank takes on marketer to oversee credit card launch” (MW April 12).

At the tail end of the story you say MBNA offers a card with an APR of 15.9 per cent.

The rate offers is in fact 18.9 per cent APR. In February of this year, RBS Advanta launched a credit card with an APR of 15.9 per cent and has since reduced the rate to 15.6 per cent.

Your coverage of events in the UK credit-card market is, in general, excellent.

I should therefore be grateful if you could advise the author of the article so that this uncharacteristic slip is not repeated.

M H Austin

Planning & development manager

RBS Advanta

Edinburgh

The author has been advised. Ed

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