Usurious and unclear charges levied on consumers who choose to pay by credit card look set to be the next big financial scandal.
Analysis from Financial Adviser has revealed that retailers are passing on their own banking charges to consumers who pay by card, with no obvious cap on how much some people will have to pay.
Although there are directives from Europe and the UK looking at the possibility of a cap on card charges, nothing seems to have been done to prevent some retailers from penalising consumers who use credit cards.
With no law against it, customers end up paying twice - at the till and in terms of the additional interest when they have to repay the balance on their cards.
To read our full analysis, see ‘Credit card charges branded ‘usurious’’.