Which? says card use will not help credit card debt consolidation

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Which? says card use will not help credit card debt consolidation

People who are trying to cut down the debt on their credit cards may be interested to hear that surcharges for using such accounts have been described as unjustified by Which?.

Chief executive of the consumer watchdog Peter Vicary-Smith suggested that fees for using credit cards to pay for items should be "fair and transparent".

However, research by the company showed that the merchant service fee for this type of transaction is typically 0.8 per cent, whereas some firms are charging 3.5 per cent.

"People don't like card surcharges and it's no surprise when the costs they pay don't match those incurred by the retailer," said Mr Vicary-Smith.

In his opinion, "there can be no justification" for the way businesses have pushed up their profit margin in this way.

Last week, the same organisation claimed people without internet access are missing out on the best savings accounts deals and urged banks to introduce web terminals to remedy this situation.

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