Be aware of your credit card

Published on 1 January 1970 by Raffick Marday

Credit card customers across the UK with good credit histories are being left out in the cold.

That's according to the Daily Mirror, which claims that lenders have hiked up rates to make as much money from customers as possible ahead of rule changes later in the year.

The Mirror says one trick deployed by card companies was to reduce the minimum payment to 2 per cent and some even increased rates up to 33 per cent after the end of the zero per cent balance transfer period.

The new rules will mean fairer deals for customers, yet until they come into force, people should be extremely vigilant to these money making extras.

Benefits of the new rules include forcing lenders to give better repayment terms to customers and use payments to cover the largest debts first.


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