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Saga has reduced the interest rate on its platinum Visa card, the credit card provider has announced.

The rate on the card is now 11.9% APR, in comparison to the average interest rate on a UK credit card which is 18.2% according to Saga.

Saga also added it has a fair approach to the order of payment so card holders are able to prioritise paying off the most expensive part of an outstanding balance.

According to the credit card provider, people over 50 owe a total of £15.7 billion on their credit cards.

Andrew Goodsell, executive chairman of Saga Group commented: "For too long many users of credit cards have suffered the double whammy of high interest rates and an unfair order of debt repayment which favours the bankers over their customers.

"We think this is wrong and call on card providers to play fair by the British public."

The Co-operative bank is currently offering a credit card with 12.9% APR typical variable.

There is no charge for UK cash withdrawals on the credit card called Clear.

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9%
** 16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable). **
	Virgin Credit Card
	20 months	3 months	16.8%
** 16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable). **
	Barclaycard Platinum with BT
	22 months	3 months	17.5%
** 17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable). **
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