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Write off up to 75%
with help from
Government Legislation

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Credit card lenders across the country are increasing the charges they issue their customers, according to a new report.

Around 15 different credit card deals on the market have had their cash rates increased and 22 have seen their purchase rates upped in recent months, Moneyfacts has revealed.

Meanwhile, close to 30 credit card lenders have seen fit to charge more in cash withdrawal and balance transfer fees than they previously were and even the headline rates being offered to attract new customers have risen notably since the start of the year.

"Normally credit card providers avoid such increases as these are the rates customers see first," said a Moneyfacts spokesperson.

"It goes to show just how tough credit conditions have become for the institutions and this is being passed onto consumers."

As millions of Britons struggle to deal with their debt management and money problems, the latest data from the Financial Ombudsman Service has shown that consumer complaints against banks have risen sharply over the course of the past year.

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