Wednesday, Nov 15, 2006
Britons have more unsecured borrowing, as a proportion of income, than any other country
The Times: Annual fee for paying with your plastic is on the cards
Banks are certain to introduce annual fees for credit cards to offset an estimated £1 billion fall in revenues as a result of regulatory clampdowns, an accounting firm forecast yesterday. Recouping £1 billion would take the equivalent of a £35-a-year card charge or a 2 percentage point rise in borrowing rates.
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