According to an analysis of the credit card market, uSwitch.com has found that credit card companies adjusting terms and conditions in the last year has generated as much as £1 billion from credit card consumers .
With consumers up against the wall and credit hard to access, the troubled economic climate is posited as the perfect environment in which to sneakily adjust rates. Credit card companies have a captive audience, in that many consumers with credit cards have little recourse but to access credit.
Cunning credit card rate adjustments, according to uSwitch, include the following: Reducing interest-free periods, introducing fees for balance transfers, hitting customers with fees for credit card cash withdrawals, and putting up annual fees for consumers to access airmiles, reward points and other benefits.
Credit card companies charge unfairly
Credit Card Quote Line
0845 108 0505
Financial Services > Credit Cards > Credit Cards News
Credit card companies charge unfairly
Tue, 21 Oct 2008
Recommended links
Credit card online quotesCompare credit card offers
0 per cent balance transfer credit cards
0 per cent purchase credit cards
Credit card glossary
Credit cards for cashback
Prepaid credit card usage will grow
| credit Card news |
|---|
| 0 per cent credit cards could be axed - Fri, 19 Mar 2010 |
| Credit card warning for application incomes - Mon, 15 Mar 2010 |
| Credit card customers urged to make more payments - Tue, 09 Mar 2010 |
| More News |
Credit Crunch Savers
Simply Dental Plan
Get covered from £7.70 per month
Income Protection Insurance
Get an instant quote with the award winning company
Amex Cash Back
Credit Card
Credit Card
Get 5% cash back on purchases with Amex