Missed credit card repayments 'have a high cost'

Missing just one credit card repayment can have a high cost, according to new data from moneysupermarket.com

Penalties resulting from just one missed repayment could cost up to £278, the financial advice website said, as well as a damaged credit rating and the loss of all introductory card benefits.

Moneysupermarket.com's observed that credit card holders taking advantage of a nought per cent balance transfer can have the benefit stripped if they miss one repayment – and find themselves repaying the debt at typical APR.

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