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Credit cards have cost 'still raising'
problem? there are currently 163 credit cards on the market, said moneyfacts, and since 1 august, increases in charges have included: 16 raising interest rates for purchases 12 raising rates for taking out cash 11 raising rates for transferring debts from other cards seven increasing fees for borrowing cash seven cutting the number of interest free days four increasing fees for using cards abrown had the recent trend for credit cards to become more expensive started in april, with a variety of rate increases and higher fees being introduced .
just like on mortgagesult, card companies are factoring in a much bigger margin for the risk of consumers defaulting, so rates are going up rather than down, she added .
the banking industry body, apacts, denied that borrowing on cards was a general problem .
Generated 2008-11-14_18:7
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