The cost of borrowing on credit cards continues to increase, new research shows.
Data released by Moneyfacts.co.uk shows the purchase interest rate on 22 credit cards has increased, while the cash rate in 15 cards has gone up.
Fees on more than 30 credit cards are also more expensive than in the past, the research found.
Michelle Slade, analyst at the firm, said: "With increasing costs on all household bills, many people are relying on their credit card to get by each month.
"But these people are going to find themselves out of pocket as purchase and cash rates, along with charges, continue to increase."
Some credit cards have increased their cash rates by more than seven per cent, she added.
However, there may still be good deals on offer, with Darren Cook, head of press and PR, pointing out that zero per cent credit card deals are still widely available.
News Side
Credit cards getting more expensive, figures show
Thu, 05 Jun 2008
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