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Royal Bank of Scotland delays introduction of low-rate credit card24 Sep 10:40am

Royal Bank of Scotland delays introduction of low-rate credit card

The Guardian
Chief executive says high level of consumer debt is factor in decision despite bank’s shrinking share of market Royal Bank of Scotland has postponed plans to introduce a cut-price credit card amid concerns about the £200bn of lending amassed by UK households. The 70%-taxpayer owned bank has decided against launching a more competitive credit card, at a time when the consumer credit market – personal loans, credit cards and car finance – is facing scrutiny from the Bank of England.
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