Overview
- On his BBC podcast, Lewis said typical high‑street overdrafts charge around 40% interest versus about 25% on many credit cards.
- He described overdrafts as the most expensive form of high‑street debt and urged people to treat being overdrawn as debt to clear.
- Section 75 makes card providers jointly liable for single‑item purchases between £100 and £30,000, whereas debit cards rely on chargeback.
- He said credit cards can be preferable if balances are paid in full each month, noting rewards, cashback, and 0% promotional offers.
- Coverage cites complaints of inconsistent chargeback and Section 75 handling across banks such as NatWest, Barclays, Nationwide, and Lloyds, with Ripple Energy customers reporting mixed refund outcomes.