Apacs: credit card market competition by Finance News Bulletin

Published: 27/02/07

Lloyds TSB's choice to charge customers who do not use their credit cards £35 per month suggests the credit card market is "in a state of change", Sandra Quinn, leader decision-making of UK payments association Apacs, has saidThe bank's move is designed to give confidence customers to choose to use their Lloyds credit card over competitors' cards, Ms Quinn told Channel 4's News at midday programme, noting that the average Briton has two such cards"The battle for credit card companies is to be the card that you pick up first when you open your bag or your wallet," she commentedThe charge could be designed to make up the credit card corporation's income shortfall after charges on clientele who defaulted on payment were reigned in by an Office of pale Trading ruling last year

But critics of the introduction of the charge may point to the information that Lloyds TSB is expected to

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