Fees for debit & credit cards

  hssutton 14:34 PM 02 Jul 13
Locked

If the suggested annual charges for debit/credit cards of £11 & £25 per become a reality will you dump any cards. My wife and I have 3 each. At least 4 of these will be cancelled.

Credit card charges

  Fruit Bat /\0/\ 14:49 PM 02 Jul 13

Credit card would definitely go

Cheques have almost disappeared so some form of card payment is required for al ot of transactions or there will be a run on the bank for all the cash we will need to carry.

Banks give virtually no interest on current accounts where cards are mostly used so another payment on top is a joke.

I already have to pay charges for my business account that are far more than any interest I get back annually.

  fourm member 15:27 PM 02 Jul 13

The article says;

'Those plans are expected to be published as a firm proposal later this month.'

So, what I'll do is wait and see what happens rather than start worrying about speculation.

  bumpkin 15:35 PM 02 Jul 13

Yes I would dump some of mine don't really need several, they just seem to be things that you aquire over the years. Wife and I use the newish Santander 123 card which gives "cashbacks" which are far greater than the £24 annual fee. Worse one I had was Amex who introduced a £20 annual fee for NOT using it, soon got shot of that one (and a refund).

  bumpkin 15:36 PM 02 Jul 13

Yes I would dump some of mine don't really need several, they just seem to be things that you aquire over the years. Wife and I use the newish Santander 123 card which gives "cashbacks" which are far greater than the £24 annual fee. Worse one I had was Amex who introduced a £20 annual fee for NOT using it, soon got shot of that one (and a refund).

  bumpkin 15:37 PM 02 Jul 13

Sorry double post

  wee eddie 16:03 PM 02 Jul 13

There was a time that I had a flush of cards and then I considered the reasons.

I now have just the one and might consider an AmEx as well, if I went travelling.

Many Card Companies are overloaded with large numbers of Cards, who's turnover is very little, which costs them a lot in processing fees.

I think that they would prefer us to have fewer, more active, cards

  spuds 17:10 PM 02 Jul 13

About a year or so back, I reviewed all the credit cards I was using. Even though I always pay within the statement times, so incurring no interest charges. It was all becoming to much of a problem with least returns.

Now I use three, one of those is with a bonus voucher scheme that transfers points into cash, that can be redeemed in places like John Lewis and Waitrose. The other two are with Barclaycard, which I have held since the day when Barclays introduced credit cards, neither of these cards are used very much, and its likely to remain like that, especially if any charges are introduced.

And if any fees are introduced for using my own money via a debit card, then my bank will soon hear about my complaint in very strong terms!,

  spuds 17:13 PM 02 Jul 13

What I was also going to add.

Haven't we been through all this before, about charges, fees#, special terms etc, and very little came of it, after people started complaining?.

  wiz-king 17:15 PM 02 Jul 13

As I only have 2 cards it wont bother me Works out at 25p per transaction on my main 'internet shopping' card.

  QuizMan 17:38 PM 02 Jul 13

In my cloud cuckoo land world in which I live, if retailers are not needing to pay the banks a levy, perhaps they'll pass on the savings to their customers! Yeah, right.

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