Credit Cards
FeedEquifax goes online with credit check
David Burrows
Mar 16th 2010
Filed under: Credit Cards, Debt
Credit reference agency Equifax is making its £2 Statutory Credit Report available online – it has been trialling this service since August 2009 with around one in five of requests for the Statutory Credit Report now being delivered this way.The launch of the online facility comes hot on the heels of the Department for Business Innovation & Skills (BIS) introduction of new voluntary measures to improve people's access to credit files.
New rules to help fight credit card debt
David Burrows
Mar 15th 2010
Filed under: Credit Cards, Personal Finance
The government has introduced new rights to save credit card users millions of pounds and give people more control over their finances.
The Department for Business, Innovation and Skills has agreed five new rights for credit card users in an agreement with credit and store card companies represented by the UK Cards Association and the Finance and Leasing Association.
Card fraud down except in my wallet
Chris Wheal
Mar 10th 2010
Filed under: Credit Cards, Banking
New figures from the UK cards Association show that total fraud losses on UK cards fell by 28% between 2008 and 2009 to £440.3m - a decrease of £170m on the previous year's total. I am personally bucking that trend. I have another new credit card. My bank rang me to list some questionable transactions that had nothing to do with me and the old card was cancelled. One of my two cards - personal and business - gets replaced every year as a result of fraud.
Too many debtors repaying too much
Chris Wheal
Mar 6th 2010
Filed under: Credit Cards, Debt, Banking
Insolvency trade body, R3, has criticised debt advisers claiming that more than a quarter (26%) of Debt Management Plans (DMPs) will last ten years or more, when they are meant to be a short-term repayment plans. It described the problem as "debt slavery".A DMP is a payment plan between an individual and their unsecured creditors, such as credit card companies. But some of the firms advising those with huge debts are giving duff advice. Sometime going bankrupt would be a better option, something many people end up doing anyway.
Lloyds Banking Group tops table for customer complaints
Christina Jordan
Feb 28th 2010
Filed under: Credit Cards, Personal Finance, Mortgages, Insurance, Banking
More customers complain to the Financial Ombudsman Service (FOS) about bailed-out Lloyds Banking Group than any other financial group, according to the latest data.Over 20,000 complaints were made to the Ombudsman about Lloyds in last six months of 2009. The Group includes the Lloyds TSB, Cheltenham & Gloucester, Halifax and Bank of Scotland brands.
Credit card rates hit 12-year high
Omotola Akerele
Feb 16th 2010
Filed under: Credit Cards, Debt, Personal Finance, News
Credit card interest rates have risen on average by four percentage points since the low of 14.8% two years ago, according to the latest figures from personal finance website Moneyfacts.The typical APR on credit cards now stands at 18.8%, marking a 12-year high despite historically low Bank of England base rates, new research has revealed.
The end of cash?
Lucy Tobin
Feb 10th 2010
Filed under: Credit Cards, News , Banking
For the past couple of years I've been cash averse. It's not that I don't like money: I just far prefer to pay for everything, from mushrooms to make up, with a card.
It sometimes triggers a sneer from the shopkeeper - "you're making me avert my eyes whilst you input your pin for a box of paperclips costing £1.04?". But latest figures suggest I'm ahead of the trend. Card provider Visa Europe this month predicted that the value of debit card transactions will eclipse those made by cash in the UK this year.
Is your credit card sufficiently rewarding?
Money Expert
Feb 9th 2010
Filed under: Credit Cards
We all know about the perils of spending too much on credit cards and suffering exorbitant interest rates while trying to pay it all back.But if you are financially disciplined and avoid getting bogged down in debt – or even if you need some breathing space to get on top of your debts - there are some outstanding credit card deals thanks to stiff competition for our custom between the banks.
Brits battered by personal insolvencies
Adrian Holliday
Feb 5th 2010
Filed under: Company, Credit Cards, Debt, Economy, Banking
Personal insolvencies in England and Wales have hit record levels: new data from the Insolvency Service reveals 35,574 people were declared insolvent in the last quarter of 2009 – a 25% rise compared to the previous year.In total, 134,142 Brits declared themselves bankrupt or took out Individual Voluntary Arrangements (IVAs)– an arrangement meaning borrowers pay off a a proportion of their debt during a set period. A 25% hike compared to 2006, the last time when personal insolvencies peaked.
Ridiculous passwords proliferate
Guy Clapperton
Jan 22nd 2010
Filed under: Credit Cards, Personal Finance, Savings and Accounts
Journalists and bloggers often tell people not to use their pets' names as passwords, or the word "password", on secure websites. A leak of Internet passwords has now proven that we're right to be concerned.Last year the RockYou music site was hacked and 32,000,000 passwords were stolen. The thieves put them on the Internet briefly, which is where security company Imperva found them. Among the most common were "password", 123456 and users' own names. 30% of the passwords were poor.
Fairer credit cards coming?
Adrian Holliday
Jan 21st 2010
Filed under: Credit Cards, Debt, Guides And Tools, Economy, Banking , Credit Reports
The words 'fair' and 'credit card' aren't natural bed fellows but could that be about to change? However growing awareness of rip-off charges and consumer discontent has seen one financial player urge the Department for Business, Innovation and Skills' (BIS) for a fairer deal.
Recession 'leaving Britons more reliant on cards'
Daily Finance
Jan 21st 2010
Filed under: Credit Cards, Debt, Economy
New research by the Post Office has found that cash-strapped Britons are likely to be more reliant on credit cards this year than they were in 2009. Britons are more likely to use their credit cards this month than in January 2009 as a result of the recession, new research has indicated.
Were 'high' Xmas sales a sham?
Adrian Holliday
Jan 18th 2010
Filed under: Credit Cards, Economy, Small Business, Personal Finance, Financial Crisis
The good-news sales headlines have been all over the media like a rash. "Christmas sales soar!" "London retail sales dazzle!" "Best sales in seven years!" Etc, etc.However, new analysis from Verdict Research claims much of the extra £14bn that apparently beefed up Xmas till receipts could have, in fact, a rather cheap shine to them.
Calculating the credit card shuffle
Daily Finance
Jan 17th 2010
Filed under: Credit Cards
- Compare credit cardsWith Christmas and at least some of the sales behind us, Britain's credit card balances are feeling the strain.
According to the latest figures more than four million people plan on transferring their credit card balance to a new card in order to take advantage of zero interest introductory offers. If you are suffering a financial hangover from the festive season then a balance transfer can be an effective way of getting back on track.
Household card payments "terrifying"
Daily Finance
Jan 16th 2010
Filed under: Credit Cards, Debt, Mortgages, News
The use of credit cards to meet housing costs is simply postponing debt management problems and making the issue more acute in the long run, it has been stated.The use of credit cards to meet rent or mortgage bills has been described as "frankly terrifying" by the Homeowners Advice Centre.
Bank lending to SMEs slumps yet again
Time is running out for ISA investors
NY and the City clash: London falling
