Credit Card Fees. The Credit Card Issuers Reach Back

Credit Card Fees. The Credit Card Issuers Reach Back

Our reliance on cards comes at a price however. The PwC study also unmasked that credit-card fir...

Spending on plastic never been more common as more and more depend on cards instead of money. Indeed authorities believe carrying income can soon become a thing of the past. High Street spending o-n bank cards outstripped money for your first time in 2005 in accordance with Precious Plastic 2007, the latest study of the UNITED KINGDOM credit market from accountants PricewaterhouseCoopers.

Our dependence o-n cards comes at a cost however. The PwC research also revealed that charge card companies are feeling the pinch and their earnings continued to this year as the business came under unprecedented scrutiny from watchdogs such as the Office of Fair Trading, the Competition Commission and the Financial Ser-vices Authority.

Clamping down o-n bank card fees must be good news?

Unfortuitously the combination of the soaring popularity of cards, tough action by watchdogs and falling profits for card firms is not always good news for the vast majority of credit card customers.

Authorities estimate that new consumer protection rules cutting the costs charged by card firms for lost payments to a straight 12 and going over your limit can cost 1 billion to the firms annually.

What falls comes up elsewhere in what experts call a 'waterbed result.' Meaning costs forced down-in one region pop up somewhere else. If you have an opinion about shopping, you will likely require to study about home page. Discover further on an affiliated essay - Visit this web site: understandable.