When we take out a credit card most of us do our best to try and find a card that offers a competitive rate of interest on borrowing. However, the problems can occur when credit card providers start to hike up the interest rates that they charge on their cards, although this is something that many people may not

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Credit card cheques are to be banned by the government as part of a new consumer protection scheme.

The Bank of England released figures showing that people living in the UK owe £233 billion on credit cards, overdrafts and other forms of loans.

The governments plans include creating a Consumer Advocate, who would focus on raising awareness of consumer issues and where necessary represent groups of consumers in court.

The amount of outstanding credit card debt in the UK has begun to rise again after falling back throughout last year,

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It’s so easy to buy now and pay later. When the first credit card maxxed out, it was easy to get a second and a third. Now you have half a dozen maxxed out credit cards and at 18% to 21% APR, you’re struggling just to pay the interest and you can’t even touch the actual amount you owe. The future looks like a giant black hole sucking up your money. You need professional help.

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