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PPI Claim News - 19/3/2010

 
Credit card charges soar as zero balance transfers sink

Consumers facing the highest credit card charges since 1998 will struggle to gain a zero per cent balance transfer.

That is according to financial advice website MoneyFacts, which found that the number of zero per cent interest transfers available on the market have fallen by ten per cent following the global recession.

Its figures highlight a growing trend among credit card companies who appear to be recouping financial losses at a cost to the consumer.

Earlier this week, Virgin money announced that it was to cut the period available for zero per cent transfers from 16 months to 14 months.

The website also revealed that the number of credit cards available with this option of balance transfers has declined by almost 50 since March 2008, to stand at just 152.

In a separate report, MoneyFacts recently revealed that credit credit rates have hit a 12-year hight, with the average value now standing at 18.8 per cent.

If you would like to make a credit card charges claim to get back all your late payment / over limit fees in the last 6 years from Virgin Money then fill out the Quick Claim or call Belmont Thornton on 0845 526 0000.ADNFCR-2776-ID-19679138-ADNFCR



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