Credit card charges

Do you need advice? share it at our community Forum

Credit cards are undoubtedly convenient but the slightest misuse can incur a host of additional charges. Penalties are typically:

• £20 for a late payment.
• £20 for exceeding credit limit.
• £5 for each returned payment.
• £25 for a cancelled cheque.

The best way to avoid such charges is to set up a direct debit with your bank for a timely repayment each month – ideally for the balance owed. More...

Watch out for credit cards that charge annual fees. An annual fee encompasses thing such as travel insurance or an increase in the reward rates – add ons you may not even need. If this is the case, look for a no annual fee credit cards.

If you are planning on using your credit card to help fund a holiday, beware of increased charges for using your plastic overseas as charges could be as much as 10%.