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Credit card holders 'can use tips to cut the cost of using plastic'

There are several ways in which credit card users can cut the cost of using their cards, it has been suggested.

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30 September 2009

Credit card holders 'can use tips to cut the cost of using plastic' ”

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Some credit card providers have started charging card holders for not using their card, according to the Mirror. Abbey National, for example, charges holders £10 if they do not use their card within a six month period.

American Express platinum also charges a fee for unused cards.

Credit card users should use their card occasionally to ensure they do not have to pay the charge, the publication recommends.

Users should also consider looking for deals online to ensure they are getting the best offers available, it continues.

In addition, credit card holders are advised to check their statements for interest rate increases so that they are not unknowingly charged more.

According to new data released by the Bank of England today, net credit card lending increased in August by £0.2 billion.

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
	Virgin Credit Card
	20 months	3 months	16.8^%
16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
	Barclaycard Platinum with BT
	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
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