The OFT is considering whether to launch an investigation into credit cards. Issues include

• Introductory rates on credit cards where it is not obvious what the permanent rate is after the introductory period finishes
   
• Some offer an introductory rate for balance transfers only, and not for new purchases or cash withdrawals. Some include new purchases, and some all three.
   
• Some credit any payment to the discounted element of the borrowing only, so that the higher rate is being paid on as much of the balance as possible.
   
• Consumers may be confused by advertising showing comparison between a lender's introductory rate and its rivals' long term rates.

Most credit card companies charge £10 - £25 if monthly payments are late. There are similar penalties for exceeding the limit or having direct debits bounced.

The courts have struck down penalty payments on mortgages, and credit cards might be treated similarly.

One customer has already been refunded £250 by Barclaycard, which later dropped its charges.

Beware of giving out your credit card number just to register on a web site.

And always check your statement to make sure there is no "continuous authorisation transaction" (CAT) that you're not happy with. More on these continuous credit card authorities here.

CAT's from overseas websites can be the hardest to cancel.

If you see anything like this, contact your card issuer at once. But they're not obliged to help you.

Some cards offer low introductory rates. These might apply to new purchases but not to balance transfers.

When you make your monthly repayments, some card issuers apply them to the cheap part of your credit card debt first (in this example, the new purchases). So the more expensive part of your credit card debt stays outstanding for longer.

If you pay in at an Alliance & Leicester branch, your A&L card account will be credited the same day.

But if you pay in at a NatWest branch for the credit of your NatWest credit card account, you apparently have to wait up to 3 working days for the credit to reach your account even if you have paid in cash.

Does anyone have more examples of credit card delays? Yes

Your credit card should be giving you a low interest rate, or a cashback (or donation to a good cause) when you use the card.

You don't need to pay a fee nowadays.

Good deals are listed in tables in the Saturday & Sunday papers. If you have a poor credit record, look here.

If you buy goods worth more than £100 on your credit card, in certain circumstances you can get your money back from the credit card company if the retailer refuses a refund. But our favourite credit card company, MBNA, refused a refund when the secondary cardholder used a card. The court supported them.

The OFT acknowledge that the law is not clear and say they will continue to push the DTI for clarification. Don't hold your breath.

A campaign highlighting incorrect debits to accounts by BT Cellnet. To summarise the campaign:

BT Cellnet are deliberately stealing money from thousands of people's bank and credit card accounts, fobbing off their victims and refusing point blank to compensate them, and persistently lying to the media about their shenanigans. They stole £150 from me, and their disgraceful behaviour prompted this Internet campaign, to force them to admit their guilt and mend their ways.

If you have such an entry, look here.