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More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

Credit card companies `use fees to reduce debts`

24/05/2007

Credit card companies could soon be increasing their fees to customers to make up for the bad debts they have had to write off recently, according to an independent financial comparison website.

MoneyExpert warns that some banks, such as Morgan Stanley and Co-operative Bank, have announced that they will introduce fees to some consumers, while eight providers already charge between £24 and £275 annually for usage.

And those which charge fees do not offer particularly good rates, the website claims, with a standard APR on purchases of 27.1 per cent.

Sean Gardner, chief executive of MoneyExpert, said: "The rising tide of bad debt hitting banks and other credit card firms is forcing providers to tighten their belts and think of new ways to make money.

"Credit card companies will be under pressure to improve profits and reduce bad debts, and that could mean finding customers who are prepared to pay for credit."

MoneyExpert is partnered with the research company Defaqto to compile its data.

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according