How The Mighty Have Fallen
November 25, 2008
Citigroup, one of America’s biggest banks, one that has been at the heart of American finances sinces it emergence back in 1812 has hit the ground with a thump, due to the global financial crisis of the moment. A company that only a couple of years ago was worth $ 273 billion, approx £ 181 billion, now finds itself valued at $ 20 billion. Read more
Store Cards Versus Credit Cards
November 24, 2008
Consumers that decide to go down the road of store cards rather than credit cards this Christmas could be landing themselves with interest of around £ 1.9 million, which could equate to £ 1.4 million more than what they would spend if they took a credit card according to uSwitch.com. Read more
Increased Credit Card Spending
November 23, 2008
Surprisingly new figures have shown that even in the current economic climate spending on UK credit cards and debit cards in the month of September increased. Read more
Lenders Raising Costs
November 23, 2008
Over the last three months the cost of credit card borrowing has gone up considerably with new figures showing that more than 10% of credit card providers are raising their rates. Sixteen credit card providers have put up the interest rates on purchases since August and all this has happened not taking into account the drops of Bank of England base rate. All this information has been put togeather by financial information group Moneyfacts. Read more
Lenders To Ignore The Drop
November 10, 2008
While millions of home owners will be benefiting from the recent 1.5% rate cut, credit card holders look unlikely to expect there repayments to fall. According to financial data firm Moneyfacts although the Bank of England have dropped interest rates to 3% they can expect to pay the average APR% which is around 5 times that figure. Read more