New research by Defaqto has unearthed plans by Credit card providers, to impose higher interest rates on customers who consistently fail to make payments on time.
The news comes in the wake of the OFTs ruling that lenders must cap their charges at £12 – which has left companies looking for a way to recoup some of the profit lost from this decision.
Defaqto's head of banking, David Black, commented: "Annual fees will more likely be introduced for people who pay off their balance every month rather than for those who carry debts. Those who have debts on their cards are more easily targeted by an increase in interest rates."