Credit card customers might find that spending on their plastic is becoming more expensive, according to new research.
A study by Moneysupermarket.com reveals that 31 per cent of credit card holders have had their APR increased in the past year.
The research also found that Egg, Capital One, Lloyds TSB, MBNA and Barclaycard are the worst offenders when it comes to upping credit card rates .
Steve Willey, head of credit cards at Moneysupermarket.com, said: " Credit card companies should play fairer with customers.
"People, for example, about to come off introductory zero per cent deals and expecting to be paying 15.9 per cent have instead found themselves facing an APR of 27.9 per cent, which is outrageous."
Increasing interest rates means it will take longer for people to pay off their credit card debt, he added.
Recently, a study by financial website Fool.co.uk revealed that there are currently more than 90 zero per cent credit card balance transfer deals on offer.
News Side
Credit card firms upping rates, research shows
Wed, 23 Jul 2008
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