Interest-free credit cards set to end
‘CREDIT card users are set to say goodbye to interest-free periods.
Traditionally, credit card users enjoyed 53 days interest-free before their bill had to be settled.
But a batch of new cards are starting to charge you as soon as you spend, according to research from MoneyExpert.com. Some providers will now charge interest on purchases even if you clear your balance every month. And experts believe they could be starting a trend.
Cards which have a zero interest-free period include Halifax’s Flat Rate Visa, Lloyds TSB’s Advance Mastercard and Bank of Scotland’s Little Black Visa. First Trust Bank in Northern Ireland also has a zero interest-free period on its Mastercard Option 3 and Visa Card Option 3 offers.
At present, the average interest-free period is up to 53 days for standard cards. At the lower end of the scale it is 45 or 46 days, as offered by firms such as Egg, Cahoot and Smile.’
Read more at Interest-free ride set to end
Recent Entries
- New Web Site Offers Free Analysis to Find the Best Rates for Credit Card Merchant Account Processing
- Hotel clerk accused of stealing guests’ credit card numbers
- Gov’t won’t lower top rates for credit cards in China
- Visa launches mini credit card
- Credit card scam plays on emotions
- Watchdog slaps warnings on drastic plastic credit charges
- DoCoMo, Mizuho Bank to team up in credit-card enabled cell phones
- Default fees cap could hit credit card firms for £400m
- CREDIT CARD SCAM …Over $100,000 made in illegal purchases
- Thailand Credit Card Market Becoming Saturated