The Rise Of Contactless Credit Cards
December 10, 2009
Contactless credit cards allow the consumer to make purchases under £ 10.00 without even having to swipe or input a pin number, with customers only occasionally asked to input a pin for extra security measures. Read more
Safe Online Shopping This Christmas
December 1, 2009
With over 32 million people using the credit cards on the web to do their shopping, the U.K. Payments Administration have advised the everyone of us should be doing what we can in order to prevent fraud happening. Read more
Rewarding Yourself Using Your Credit Card
November 1, 2009
If you are one of the six out of ten people who actually pay their credit cards off at the end of each month, then it should be time that you think about taking on board a rewarding credit card to make the most of the money you spend. Read more
Lloyds TSB attacked over credit card gambling
August 25, 2009
High Street bank, Lloyds TSB, has been attacked by debt charities and politicians over an issue relating to gambling on credit cards. The bank has been accused of encouraging its customers to gamble on their credit cards, thus encouraging both higher levels of debt and gambling addiction amongst its customers. The bank informed its customers by letter that they could use 50 percent of their credit as cash and use it on transactions ’such as gambling’. Read more
December Debt Reduced
February 22, 2009
The British Bankers Association, the BBA, announced figures that showed that consumers in December had paid back more than was spent on credit cards, the figure showing as £ 0.4 billion of unsecured borrowing on credit cards being repaid and all this at a time when retailers were bring out heavy discounts in a bid to entice consumers. Read more
Cash Back Credit Card Usage Increases
January 27, 2009
According to recent data released the use of cash back credit cards is on the increase in the U.K, with many users looking to get back a little something in the current economic climate. Read more
Credit Card Firms Will Have To Do More To Assist Borrowers
January 14, 2009
Following a recent meeting with the Business Secretary Lord Mandelson, officials from the credit card industry have pledged to try and assist struggling borrowers more through the deployment of a number of measures. Over recent weeks credit cards have hit the financial headlines a number of times, namely because of the high rate of interest charged on borrowing despite the aggressive base rate cuts, and because of increases in various other related fees and charges. Read more
Consumers Should Fight Credit Card Increases
January 12, 2009
Consumers are being urged to bear in mind that hikes on credit card interest can be fought if the credit card company appears to have put up the rate on the card for no apparent reason. Many credit card companies have been increasing both the interest rate and the charges on their credit cards, and this is despite the fact that the base rate has fallen by almost two thirds since the end of last year. This has caused concern amongst campaigners, consumers, and even the Prime Minister, Gordon Brown, who has been trying to address the issue. Read more
Affected By The Economic Turndown
January 6, 2009
According to research done by the UK’s leading cash and internet payments company, Paypoint, people in Scotland have been the most affected by the recent economic downturn. The research done in November 2008, showed that 31% of people living in Scotland felt that the recent downturn had an affect on the way they purchase goods, in comparison with 42% of Londoners and 40% of Northerners. Read more
Credit Cards To Hit £ 7 Billion
January 6, 2009
It is thought that credit card holders will be trying to transfer as much as £ 7 billion at the beginning of the New Year in order to take advantage of introductory rates that are that are on offer. 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
Charity Credit Cards
October 28, 2008
Many people in this day and age like to give money or make donations to charity, and even in the current financial climate where finances are strained for many households people still think about those less fortunate than themselves and try to offer as much in the way of financial support as they can. It can be difficult to decide what charity to support when there are so many worthy causes but most people have heir own favourite charity or a cause that is close to their hearts, which they make donations to. Read more
The Xmas Purchase Solution
October 28, 2008
For the most cash strapped families who will find it hard this Christmas due to the credit crunch, there is a new credit card in town!! The only problem is that it is the most expensive credit card in the UK with an interest rate of 227%. This is being promoted as a solution for those cash strapped families. Read more
Declined Applications For Financial Products
October 19, 2008
According to research carried out by MoneyExpert.com, around 5 million applications for new credit cards and loans have been rejected by lenders over the last six months. The figures work out that about 56 % of the population of the U.K has applied for such financial products in the last six months. Read more
Different Types of Credit Cards
October 16, 2008
If you are looking to take out a credit card you will find that the wide choice of credit cards on the market these days makes it easier for you to find a card that is perfectly suited to your needs and circumstances. If you have a good credit history and rating you will usually find that you can choose from a wide range of credit cards, although the choices for those with bad credit will be far more limited. It is important to make sure that you choose the right card for your needs and circumstances, as otherwise you could end up paying over the odds or could miss out on some valuable benefits. Below is a summary of some of the popular credit card types available these days: Read more
Cash Withdrawls In the UK
October 16, 2008
According to research done by U Switch, consumers using credit cards in the UK are making over 38 million cash withdrawls every year and they are doing this at nearly twice the average APR% which is about 17.2%, which equates to an average 32%. Read more
Searching for a Suitable Credit Card
October 14, 2008
The world of credit cards has become something of a minefield in many ways over recent years, and this is because there are so many different credit card types available from such a wide range of lenders. For those with good credit the choice of credit cards is very good, and it is possible to find credit cards to suit most needs and circumstances. Credit cards have become increasingly popular over recent years, with many enjoying the convenience, ease, flexibility, and even increased security that they offer. Read more
The Credit Fraudsters
October 7, 2008
This year has seen a record high on fraud losses that UK credit cards has ever seen and this is only in the first six months of the year. During this first six months the losses have amounted to a total of £ 301.7 million, although payments group APACS have advised that the growth rate has eased from 26% for the same period of 2007. Read more
Should You Switch Your Credit Card?
October 7, 2008
With the current financial climate in the state that it is in many people may be confused as to whether they would benefit from switching their credit cards or not. Many industry professionals have stated that the cost of borrowing on many credit cards has rocketed over recent years, and this means that many people may now be paying a fortune for their credit card borrowing. In cases such as these it may be advisable to switch to another card that offers a more competitive rate. However, there is also the fact that tighter credit conditions could make it harder for consumers to get another credit card, and this could result in rejection, which in turn could lead to damaged credit. Read more
The Balance Transfer Battleground
September 27, 2008
The future of the balance transfer fee looks set to spark a battle between the credit cards that are on offer by many of the providers at this current time. Read more
Visa to Launch the Green Credit Card
September 27, 2008
In Europe, Visa, have decided to launch a “Green” credit card which will allow businesses to offset the carbon emissions that have been created on products the card has been used to pay for. Read more
Barclaycards Planning to Change
September 20, 2008
Barclaycard are seeing a change in strategy with the decision to keep the Goldfish brand and by doing this six months after taking the business over when they were strong indications that the Goldfish brand would be scrapped. Read more
Barclaycards Takeover of Discover Financial Services
September 13, 2008
The recent announcement of Barclaycards £ 35 million takeover of Discover Financial Services UK portfolio of 11 credit cards, which include credit cards such as Goldfish, Morgan Stanley, Liverpool Victoria, Leeds Building Society to name but a few, will see a transfer of 1.7 million credit card holders being transfered into Barclaycards cutomer base. Read more