Motley Fool: Pay Attention, But Don’t Pay Any Interest!

Did you know that the longer side of a credit card measures about 85mm? This means that if you lined up the UK’s 74 million credit cards end to end, they would stretch 6,290 kilometres, or roughly 3,930 miles, which is close to the distance from London to Chicago!

The other astonishing thing about credit cards (apart from the sheer number of them in circulation in the UK) is just how expensive they are. Earlier this month, the Bank of England raised its base rate to 4.75% a year, yet a typical credit card charges an annual interest rate of 15.5% on purchases….

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