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Ban on excessive credit card charges 'is long overdue'

Credit card charges and other additional expenses ought to be "completely obvious" when a consumer enters into a transaction.

This is according to CashQuestions.com editor Annie Shaw, who said: "Meticulous profiteering should not be made on cards."

Recently, the government announced it is going to hold a consultation on excessive bank charges when people make payments using credit or debit cards and could ban these altogether.

Ms Shaw suggested this policy is "long overdue", calling the fact that a reform did not happen earlier "a pity".

If these fees are abolished, consumers will be likely to see what they are going to pay at the start of a transaction rather than suffer a "hefty" credit card claim at the end, she added.

Some expenses, such as cheap airline tickets, can have their prices as much as doubled as a result of these fees and surcharges, the specialist pointed out.

"It catches out a lot of people," Ms Shaw said.

Charles Baker
Charles is a reputed financial analyst with decades of experience under his belt. ADNFCR-2776-ID-801449452-ADNFCR



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