on 02-01-2016 01:32 PM - last edited on 04-01-2016 12:17 PM by PeteW
on 06-01-2016 09:43 AM
This is a fairly common question actually and like with the decision to make changes to our loan and savings account interest rates, there are also many and varying factors that contribute to credit card interest rates.
Some of the reasons credit card rate changes aren't as closely aligned with the Reserve Bank of Australia's (RBA) cash rate include the higher (unsecured) risk of credit card lending, increased fraud and consequently potential losses, costs of running rewards schemes, and transaction costs.
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on 06-01-2016 10:52 PM