A survey done by MoneyExpert.com has found that over five million UK credit card holders missed payments over the past six months, providing banks with £60m in penalty charges. According to the report, fees and interest rates increased in the second half of 2007's, boosting bank income by an estimated  £11m more when compared with the previous six months. Particular areas of growth were charges for withdrawing money from cash machines and the cost of transactions made overseas. Meanwhile, several credit card providers have cut the interest-free period on bill payments, and others
reduced customer credit limits. It is thought that the increasing charges, as well as the rise in rejected card applications, reflect the global credit crunch.