someone who regularly switches credit card providers or savings accounts in order to get the best interest rates available
With Bank of England interest rates stuck at 0.5 per cent and UK savers subsidising borrowers to the tune of an estimated £100bn even the most active of consumers, those willing to become a “rate tart” and switch between the highest-paying providers, are barely keeping up with inflation.
Submitted by: Kerry on 18/03/2016
Featured as a BuzzWord!
The expression rate tart is, of course, a combination of the word rate referring to interest rate, ‘the percentage that a bank charges or pays when you borrow money or keep it in an account’, and tart in its sense as an offensive word for a prostitute, a metaphor for financial, as opposed to sexual, promiscuity.