Credit Card Fees Shoot Up by Finance News Bulletin

Published: 02/11/07

The cost charged by credit card companies for several services have jumped in recent weeks, new investigate has revealedIn their efforts to get their mitts on our money, credit card firms have introduced over 30 charge hikes since September According to figures from analysts Moneyfacts, those creation cash withdrawals are likely to find their wallets hardest strikeAlliance & Leicester's fee for moving back cash using a credit card zoomed up the most, from 2

25% to 3% now last week This means those withdrawing £200 in this method will now pay a £6 feeAnd many other major lenders -- including store of Scotland, Halifax, the Co-operative Bank, Nationwide and Yorkshire structure Society -- have imposed new hikes of 05%

Interest rates on cash withdrawals for many credit cards have also shot up in the last two months Smile current explanation holders with a Gold Visa certificate saw their rate rise from 149% to 239%, while the speed for Yorkshire Building Society customers with a Classic certificate ballooned from 15

4% to 239%There's also depressing information for credit card holders who want to transfer debt to a 0% balance transfer certificate Alliance & Leicester was a baddie in this respect, too -- in the last week its balance transfer charge rose from 2

25% to 3% However, other big-name lenders have been at it as well: NatWest, regal Bank of Scotland and Tesco Personal Finance all hiked their fees from 2% to 25% in the last couple of monthsAnd before you pack your bags and go away the country, it's worth examination which plastic you plan to use abroad

The Bank of Scotland, Britannia Building Society, clever Finance, the AA and Amazon have all upped the commission practical to foreign transactions - from 275% to 295%So what's the excuse for all these fee hikes

next the fuss this day about unfair penalty charges for credit cards and overdrafts, the credit card providers are looking for other habits to fill their coffersBut it's not all fate and gloom -- thankfully you can dodge many of these cost Withdrawing cash using your credit card is very expensive -- and there's no interest-free era - so try to avoid doing so at all costsFor tips on making your credit card work for you, have a look at Why Cash And Credit Cards put on't Mix

or 12 Ways Your Credit Card Rips You Off© Copyright 1998-2007, The Motley Fool incomplete All rights kept

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