Friday, February 23, 2007

Better start running up more debt...

... Lloyds TSB, fresh from announcing an 11 per cent jump in profits to over £4bn, have decided to introduce a £35 annual charge to customers who rarely - if at all - use their credit card (see here). This follows hot on the heels of MBNA's decision to charge £10 on accounts with positive balances.

It's all part of these companies attempts to claw back money after being ordered to slash their charges on those people who miss payments on their cards. What a great way to start dealing with this country's lamentable debt culture, by penalising people who don't join the never-never crowd while effectively rewarding those who happily run up unsustainable debts.

Is there something in the water we're drinking, or have we supposedly evolved past the point of requiring common sense?

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