Volunteers needed

Posted in 'Personal Finance' by Richard Catlin

24 November 2009

Credit card interest rates have come under even closer scrutiny recently.

It’s not just the advertised, or ‘typical’ rates that have come under fire, but the rates that are actually offered once an application has been accepted. By law, 66% of applicants have to be offered the advertised ‘typical’ rate, but with lenders being tougher than ever, questions have been raised as to whether or not that happens in practice.

Picking up the mantle, consumer champion Which? is planning to carry out an investigation into the rates that consumers actually get – and is working with checkmyfile to try to establish whether the interest rate on offer is accurate - and whether it reflects an applicant’s credit rating.

If you’re confident that you’d be accepted for a credit card and wouldn’t mind taking part, you can help make a valuable contribution.

If you’re interested, simply drop an email to volunteer@checkmyfile.com and we’ll get back to you with more instructions about how you can get involved. There’s no obligation of course, and no personal details will be disclosed in any study.

Rest assured, your credit rating won’t be harmed in any way by taking part.