Annual Fees To Return On Credit Cards
A report by PricewaterhouseCoopers suggests that banks may introduce annual fees of about £35 to maintain a credit card account.
It is suggested that such an annual fee may be levied by the card issuers to enable them to recoup the money lost on reduced penalty fees. Earlier this year the Office of Fair Trading restricted to a maximum of £12 the amount the banks could charge in penalty fees for customers who defaulted on their payments. Additionally the credit card market is being investigated over the credit card interchange fee (the amount the retailers pay on card transactions) and payment protection insurance products are under investigation too.
Here at cardtart we haven't heard that any of the credit card providers that we affiliate with are about to introduce annual fees. But if they do, we'll be quick to let you know who they are.
It is suggested that such an annual fee may be levied by the card issuers to enable them to recoup the money lost on reduced penalty fees. Earlier this year the Office of Fair Trading restricted to a maximum of £12 the amount the banks could charge in penalty fees for customers who defaulted on their payments. Additionally the credit card market is being investigated over the credit card interchange fee (the amount the retailers pay on card transactions) and payment protection insurance products are under investigation too.
Here at cardtart we haven't heard that any of the credit card providers that we affiliate with are about to introduce annual fees. But if they do, we'll be quick to let you know who they are.
Labels: cardtart, credit cards, fees
posted by JC at
3:06 PM
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