23 October 2008
Saga has insisted it has no plans to cut the number of interest free days available on purchases made by its Saga Platinum Visa Card customers. The group was responding to market analysis conducted by uSwitch.com, which revealed that 30% of credit card providers have reduced their interest-free periods in the last month. It also showed that by "tweaking" their terms and conditions in this way, card companies had "fleeced" consumers for up to £3 million in extra interest payments. Commenting on the findings, Saga's Head of Communications Paul Green said: "At a time when many people are trying to economise it is a shame that some credit card providers are trying to pass on increased costs to hard-pressed consumers in what some might call an under-hand manner." He insisted that the Saga Platinum Visa Card still offers an interest free period of 55 days on purchases and does not intend to change this.
© 2008 Adfero Ltd
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