Saga Visa card is "fair"

www.moneynews.co.uk > Credit cards > Saga Visa card is "fair"

Saga Visa card is "fair"

Thu 28th Jul 2005

Saga have responded to an Office of Fair Trading (OFT) report which states that credit card charges are unfair on customers.

The company, who charge £10 for late payments, exceeding credit limits or dishonoured cheques and direct debits, claim their Visa card charges are proportionate.

The OFT report described charges of between £20 and £25 for late payment or exceeding credit limits as “unfair” and “excessive”.

However, Saga Visa Card has urged other card providers to take action to minimise these charges, reducing them to levels similar to their own.

Paul Green, head of communications for Saga Financial Services, said: "The OFT has highlighted potentially excessive charges for late payment or exceeding credit limits.

“Obviously there needs to be a process in place that is fair to credit card providers, their clients that keep within their limits and those that occasionally transgress.

“The OFT report begs the question whether some credit card customers have been treated less fairly than others."

Related News : Credit cards
	Brits spent less in the run-up to Christmas 2011
	Credit card spending fell in 2011
	Credit cards 'can be a useful budgeting tool'
	Credit card usage 'to rise this month'
	New measures to help Brits with finances
	Credit card spending 'less prolific in the last 12 months'
	AA Launches new reward credit card
	Borrowings 'still need to be repaid' during a gap year
	Clear information in credit agreements called for
	Brits 'focusing on zero per cent cards'

Related News : Saga
	Travel insurance 'is essential for holidaymakers'
	Interest rates held at 0.5 per cent by Bank of England
	Saga extends travel insurance policy to cover holidays at home
	WRIC report claims private sector needs to do more for pensions
	Watchdog criticises personal pensions market
	Saga chief discusses pensions calculator proposals
	Saga describes women's pension decision as 'a cruel blow'
	Saga chief suggests utilising property to boost pensions calculator
	Retirement calculator change will benefit women, says Saga
	Saga points out issue affecting retirement calculator customers