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Bank refunds: Credit card war lures shoppers

Consumers who are looking to get bank refunds may be interested to hear that Barclays has launched a 24 month interest free credit card.

In what thisismoney.co.uk has branded a "battle of the banking giants", shoppers are being lured with attractive rates, which could be seen as a "lifeline" to debt-ridden Brits.

However, critics are claiming these interest free deals could lead to reckless spending and encourage the attitude of "spend now pay later", which caused many people to get into debt to start with.

Hannah-Mercedes Skenfield, credit card spokesman at Moneysupermarket.com, explained that Barclays new deal is good for consumers who want to consolidate existing debt, but warned against other uses.

She told the news provider: "Anyone going down this road needs to remember to avoid making purchases on the card or they risk losing their promotional zero per cent rate and could end up getting stung with hefty interest payments.

"To avoid this, customers should set up a direct debit to pay off at least the minimum amount each month."

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.
 ADNFCR-2776-ID-800626731-ADNFCR



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