Anger After Barclaycard Increases Credit Card Rates by 2%

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00014553-anger-after-barclaycard-increases-credit-/

By Joe Morgan and Helen Nugent, The Times

Barclaycard faces calls for an investigation by financial watchdogs after raising its charges despite recent interest-rate cuts.

Britain’s biggest and oldest credit card company said it was introducing the rise because more customers were defaulting on their loan repayments.

The claim was disputed by consumer groups, who said that so-called bad-debt levels were near historic lows. Most banks, including Barclays, have played down fears that consumer and corporate borrowers are reneging on their repayment obligations.

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Anger After Barclaycard Increases Credit Card Rates by 2%

Unknown Author

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