Credit card giants have dramatically increased interest rates and found other back-door methods to wring cash from hard-pressed customers.
Despite cuts in the Bank of England base rate to a record low of 0.5 per cent, banks and others have imposed punishing increases on the cost of using cards.
Some have added as much as 4 points to the headline interest rate charged to customers over the past year, taking the figure up to almost 20 per cent.
The moves directly contradict demands from the Prime Minister for banks to treat credit card customers fairly.
No comments:
Post a Comment
Thanks for your comment it is much appreciated.