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PPI Claim News - 22/3/2010

Credit Card Charges will ultimately hurt consumers, warns expert

Credit card charges will continue to sting consumers despite government intervention, an expert has claimed.

Jeff Prestridge, personal finance editor for the Mail on Sunday, says that by the time new card measures come into force, indebted borrowers may be no better off due to hiked rates.

"Let's not get too carried away with the government's success", he writes.

"Credit card companies are a crafty lot and they will not have agreed to lose £500million of revenue over the next couple of years (the estimated cost of abiding by the new measures) without a good idea as to how they can replace it."

He claims this will ultimately come at a cost to the consumers who will be left facing increased interest rates on credit cards.

"When card issuers give with one hand, they will always take more with the other," adds Mr Prestridge.

Recent figures from MoneyFacts revealed that customers are already facing the highest credit card interest rates in 12 years, with the average figure now 18.8 per cent.

For free advice on how to make a PPI ClaimPayment Protection Insurance claim or a credit card charges claim then call Belmont Thornton on 0845 526 0000 or fill in the Quick Claim form to be sent a free PPI Claim pack or credit card charges claim pack.ADNFCR-2776-ID-19681512-ADNFCR

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