Credit card perks are being slashed
In the heyday of the UK credit card market each and every card in the UK had a specific character and a specific set of cardholder perks. However, slowly but surely as the UK recession continues to bite and bad debts continue to rise, more and more credit card companies in the UK are reducing cardholder benefits with Goldfish the latest to announce such a move.
However, there are concerns that the Goldfish credit card move could set a new trend in the sector with the company announcing plans to slash perks for those who decide not to transfer over to the company's new fee charging structure. While there is no doubt that credit cardholder perks are very useful to many people, you do start to doubt their value when fee structures are included.
More and more UK credit card companies are moving towards new fee structures which will increase cash flow and ultimately help to pay off some of the bad debts which have cumulated over the last decade. As bad debts continue to rise, credit card companies continue to increase their charges and interest rates, which then cause further problems for many people and more bad debts. This is something of a vicious circle which needs to be broken before the sector as a whole and UK consumers can return back to "normal".
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