Credit Cards have changed. For the better.


Guess what? Credit cards are not all evil, and some fairly huge changes that have come in this year, make the world of credit a safer place for us all to belong. Woo. So what are these changes? Well…

The most expensive debt will now be paid off first, not last
In a huge Hah! to all those nasty and mean credit card companies who always used to use your repayments to pay off your cheapest debt first, now the dearest debt must be serviced first. No more paying extra interest on the more expensive debt, such as cash withdrawals, over a longer period of time, therefore paying more.

For new accounts, making the minimum payment will always reduce the outstanding balance.
For new accounts opened from April 1 2011, credit card companies must set the minimum payment at a rate that reduces your actual balance by 1% each month. Before, if you made the minimum payment, this would generally only cover fees and interest charges and wouldn’t reduce your outstanding balance. This will mean higher minimum payments, but reduce the total amount payable, so we think this is A Good Thing.

More flexibility about how much you pay towards your bill.
Oftentimes, if you wanted to set up a regular payment you would normally have had to pay either the outstanding balance, or the minimum payment each month. A crafty way for card companis to keep you languishing in minimum payment hell forever. Now you must be given the choice to repay any amount you want between the minimum and the full balance.

No surprise credit limit increases
Before, your credit card company could increase your credit limit without asking you. And we all know how tempting temptation is. Now, they have to contact you if they want to increase your credit limit and you have 30 days to decide whether to decline the increase.

Credit card cheques will only be sent on request
You remember all those credit card cheques you used to get sent willy nilly? Well now, credit card companies can only send you these cheques if you ask for them. Better find something else to use as loo roll then.

[Citizen's Advice]


  • Tweedskin
    Go on, chuck another font style in there....two isn't enough!
  • Issac M.
    some forgot to run the copy, cut and paste through notepad?
  • Mark C.
    Ever thought about sticking with just the one font?
  • fantasticplastic
  • Sam T.
    I have no idea why it is showing in two fonts! It isn't on my posting screen and I've checked the html. Very strange.
  • simbak2k
    2 fonts, about 4 different text sizes and several bolds and capitalisation here and there. Why not add a bit of italics and strikethrough in there just so you get the full effect? Well done.
  • Font P.
    Your nicked.
  • Font c.
    I ain't dun nuff guv
  • Sam T.
    no idea what you lot are talking about...
  • Bazinga
    Did somebody say Comic Sans?
  • Steve
    Didn't this happen, like, 5 months ago?
  • Steve
    I tried to do this with Barclaycard. The facitiy to decline online didn't work, so you have to phone there non free number and wait on hold for an age in order to decline this. This is not customer friendly. You should have to agree to it yes, but if you fail to respond then they take this as an agreement which is quite wrong.

What do you think?

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