The Office of Fair Trading has outlawed the extra surcharges on plastic cards but it will be quite some time before this comes to a logical end. Credit card companies have received notices from the OFT and have been asked to change their surcharging practices. However, one can be sure that this is not likely to happen soon as the card companies will drag their feet on this. They will also ensure that they would have made decent profits before they agree to comply.
Now, the OFT is also trying to push for fresh laws in order to put an end to these additional surcharges that companies have to pay when they purchase the goods and services. However, all the bitter experiences that we have had in the past has shown us that new legislations take a long time before they can reach statute books. All this will happen only when the proposals put forward by the OFT gains support in the parliament.
Which is the super complaint that has nudged this week’s announcement into action? This is a sort of a victory for consumers who have been ripped off since ages, by these card companies.
The main problem is that the surcharges on plastic cards are hidden. So, anybody who purchases a flight ticket or a ticket for a football match will only realize that they have to pay the extra amount when they reach the checkout. Although, websites do explain some of these charges, no one really reads the small print.
