From the Financial Times today:
Card charges rise in spite of low rates
"Credit
card providers have continued to raise charges in spite of historically
low interest rates ...
"In the past year the cost of borrowing money on plastic has risen from 16.8 to 17.7 per cent.
"Over
the same period the prevalence of cards offering 0 per cent
introductory balance transfer deals fell, while the rate charged on
cash advances increased from 2.62 to 2.73 per cent, said banking
analysts at Defaqto."
Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...