Qualified advisers answering your
Financial Questions
call 0800 092 1245

UK credit card companies chase card "tarts"

The so-called credit card "tarts" in the UK, those who regularly move from card to card to take advantage of attractive interest rates and various promotions, may well be looking over their shoulders over the next few months as the UK credit card companies promise to work closer together. While historically credit card companies have shared information on clients regarding their balance, credit limits and whether they are up to date with payments, a new agreement comes into place for 2009.

This new agreement will allow much more detailed information to be passed between credit card companies in order to identify credit card "tarts". As more and more of the UK population used their credit cards to the maximum over the festive period those looking to switch to 0% balance options may well find their path blocked if they have used this service excessively in the past. This could then lead to a large number of UK credit card holders being stuck with high balances and high interest rates.

Over the years many experts have warned about the potential for card "surfers" to be targeted in due course and possibly blocked from using the various 0% transfer options which were available. Now that this prediction appears to be coming true it will be interesting to see how many of the UK population get caught.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details