Shopping around for the best
In February, the Office of Fair Trading published a report advising people how to choose the best
Chris Tapp, director of money education charity Credit Action, stated that there are actions
By displaying how much credit costs in pounds rather than percentages, consumers may find it easier to understand exactly how much they will end up paying, he said.
In addition, Mr Tapp claimed it can become confusing for people to clearly see the difference between cards charge the same APR, but differ greatly in charges associated with spending abroad and withdrawing cash for example.
“For consumers to be able to properly compare those, that sort of information needs to be available up front and not buried in small print where people cannot find it,” he said.
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