Credit card holders who miss a monthly repayment are facing increasingly harsh penalties, says MoneyMail.
Borrowers are being lured into 0% deals on credit cards, with some lenders offering no interest charges for 16 months. However, if borrowers miss one payment by just a few days, they risk forfeiting the entire 0% deal, and seeing their credit limit drastically reduced. This would be particularly bad for borrowers who have paid a balance transfer fee, normally about 3%, to ensure their debt doesn't accrue interest.







