Caveat emptor seems to apply more than ever nowadays. The way in which credit card issuers are quietly finding new ways of charging us for our credit card usage is somewhat alarming.
The latest wheeze is for some providers to treat the purchase of gift vouchers as if these were cash transactions. Where this is the case, not only is the transaction going to be charged at a higher rate of interest than for a purchase, but some providers are even going to charge you interest from day one, instead of allowing up to 56 days interest free credit.
So if you have a credit card, you really need to keep your wits about you. Just remember, whenever you get the plastic out, your card issuer is not a charity, but is out to make a buck or two from you, so think very carefully about what type of transaction you are undertaking (cash or purchase) and just how much it is going to cost you….
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