This is some text prior to the author information. You can change this text from the admin section of WP-Gravatar To change this standard text, you have to enter some information about your self in the Dashboard -> Users -> Your Profile box. Read more from this authorIt looks like there could be many more people wanting to dispute credit card charge fees once the holiday season comes around. Any British holiday-makers going abroad (count them on one hand) this summer will be hit by a sledgehammer to the wallet thanks to the weak pound and the charges for using their cards abroad.
This has never been more apparent than right now, as credit card rates are climbing despite interest rates being at a historical low. A typical £3,000 credit card debt will accrue an extra £26.40 compared with two years ago, according to MoneyExpert.
To put some perspective on that – in the past 12 months, credit and debit card charges have risen by 6%, bringing in an extra £755m in fees for the banks. With that kind of income, I’m sure they can afford to pay out when someone decides to dispute credit card charge fees!
Even Nationwide, which bangs on about it’s fee free foreign shopping, has plans to charge customers for using their cards outside Europe. These developments have encouraged many financial experts to signal the end of free banking, but with all these charges, I’m wondering if such-an-era ever existed.
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