Monday, Nov 13, 2006

Are the Tra-La days over?

TimesOnline: Annual fee for paying with your plastic is on the cards

With the BoE hammering another nail into the coffin of the low inflation era last week with yet another increase in base rates the banks may yet issue another salvo as the era of charge-less credit cards may likely come to a close, according to PricewaterhouseCoopers.

Posted by denzil @ 08:59 AM (406 views)
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1. Boarder said...

Unsecured bad debts are going allready, secured bad debts will be next.

Banks are moving to make borrowing align with the risks (which are increasing) this means an equivalent to an interest rate rise.

Monday, November 13, 2006 10:52AM Report Comment

2. Davidhpc said...

The banks need to start offsetting some of the money they are going to be losing on bad debts. Things like this are going to get increasingly common, so keep your eye on your bank.

First Direct were offering 5% e-savings, which was .5% above base rate and didnt seem too bad, so I put some spare cash in it. With no move in base rate, they dropped it to 4.75%. however there was no move after the previous .25% rise in base rate and no sign of a move after this rise. so its gone from .5% above base rate, to .25% below. they will be trying all sorts of stuff like this in the next few years.

Tuesday, November 14, 2006 03:13AM Report Comment

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