Latest: Credit Card News

Less than half of Brits considered creditworthy

Less than half of Brits considered creditworthy

Fifty-seven per cent of UK adults are at risk of having an application for credit turned down by a mainstream lender according to a new report. The ‘Mind the Credit Gap‘ report commissioned by aqua credit cards suggests that even people with a good credit rating and earning more than £50,000 could have a credit […]

December 19, 2012 More
Asda flier promotes expensive cash withdrawals

Asda flier promotes expensive cash withdrawals

The ‘Asda Price’ slogan took on a whole new meaning after a flier, designed to look like a Christmas card, suggested that Asda Money customers should withdraw cash from an ATM using their credit card. Customers withdrawing cash on their credit card are charged 3 per cent of the amount withdrawn, or £5, whichever is […]

December 14, 2012 More
Barclaycard offers 24-month 0% balance transfer deal

Barclaycard offers 24-month 0% balance transfer deal

Barclaycard has launched a balance transfer card with an interest-free period of 24 months, the longest ever seen on the market. The deal on the Platinum Extended Balance Transfer card also includes £30 cashback. Barclaycard has stolen the top spot for balance transfer cards back from NatWest and RBS, who both launched 23-month interest free […]

November 20, 2012 More
Rise in number of credit cards offering cashback

Rise in number of credit cards offering cashback

The number of credit cards offering a cashback reward has doubled over the past two years, according to a new report commissioned by card provider Capital One. Research carried out by Defaqto on behalf of Capital One identified 245 different credit cards available in the UK, of which 9 per cent offer cashback. Around 75 […]

November 6, 2012 More
Card fraud increases to £185m

Card fraud increases to £185m

Debit and credit card fraud increased to £185m in the first six months of this year, an increase of 9 per cent from the same period last year, according to the UK Cards Association. The use of chip and PIN technology has helped to cut the amount of fraud substantially from a peak of £304.2 […]

September 27, 2012 More
Cash going out of fashion

Cash going out of fashion

Cards are replacing cash as consumers’ preferred payment method, according to new research by Clydesdale Bank and Yorkshire banks. A few years ago people would hesitate to use a card to make a small value purchase, but not anymore. Around 29 per cent of people in the UK now draw less than 10 per cent […]

September 5, 2012 More
Excessive credit card charges could end by January

Excessive credit card charges could end by January

The government is to go ahead with new rules to prevent retailers imposing excessive or surprise charges on debit or credit card payments. The changes, which were recommended by the Office of Fair Trading in 2011 following a super-complaint from consumer group Which?, could be introduced by January 2013. Retailers, including airlines, will have to […]

September 3, 2012 More
Mastercard in contactless payment technology partnership

Mastercard in contactless payment technology partnership

Mastercard has entered into a partnership with mobile network provider Everything Everywhere which is designed to boost the uptake of contactless payment technology in the OK. Under the five-year deal, MasterCard customers will be offered a range of new payment technologies, including a near field communication (NFC) service allowing them to make payments simply with […]

August 28, 2012 More
Government to crack down on hidden credit card charges

Government to crack down on hidden credit card charges

Tougher rules are to be brought in to protect consumers from hidden credit card charges and premium-rate phone calls to customer service departments. The Government has launched a consultation on how to implement the changes, which are required under a European Consumer Rights Directive and will apply to countries across the European Union. The new […]

August 21, 2012 More
Post Office warns holidaymakers over credit card charges

Post Office warns holidaymakers over credit card charges

The Post Office is warning travellers to be aware of charges for using their credit card abroad. Travellers who don’t have a fee-free card could be charged as much as 2.99 per cent each time they use their card, which could bump up their bill when they return home. Research by Post Office Credit Card […]

August 2, 2012 More
Airlines to make card charges more transparent

Airlines to make card charges more transparent

Airlines will make debit and credit card charges clearer for customers, following an investigation by the Office of Fair Trading (OFT). The investigation was launched in March following a supercomplaint from the independent consumer body Which? Twelve airlines have agreed to include debit card surcharges in the headline price rather than add them on at […]

July 5, 2012 More
Cards launched for customers with low credit rating

Cards launched for customers with low credit rating

SAV Credit, which offers credit cards to customers who have been turned away by High Street Banks, has launched two new products. The aqua Reward and aqua Advance cards are available to customers with a poor credit rating and offer credit limits of up to £1,600. The aqua Advance card offers a reduced rate of […]

June 20, 2012 More
Credit card lending contracted in April

Credit card lending contracted in April

Credit card lending contracted in April, representing the fourth time it has contracted in the past six months and suggesting that consumer confidence remains low. Repayments exceeded new borrowing by £118m last month, marking the biggest monthly contraction since August 2006, according to the latest figures from the Bank of England. Other types of personal […]

May 30, 2012 More
Sainsbury’s offers 6.9pc credit card

Sainsbury’s offers 6.9pc credit card

Retailer Sainsbury’s is offering a credit card with an interest rate of just 6.9 per cent on new purchases, but the card is only available to nectar card holders with good credit ratings. According to new research by the retailer, the number of cards offering a lower-rate APR over a long-term, with no introductory offer, […]

May 15, 2012 More
Financial Ombudsman receives 10% more credit card complaints

Financial Ombudsman receives 10% more credit card complaints

There was a 10 per cent increase in the number of complaints made to the Financial Ombudsman Service (FOS) about credit cards last year. A total of 19,183 complaints were made in the year to April 2012, the highest number since records began in 2001, with the majority relating to claims for refunds for unsuitable […]

May 3, 2012 More
36 credit card fraud sites closed down

36 credit card fraud sites closed down

A global police operation involving the UK’s Serious Organised Crime Agency (Soca) has closed down 36 websites selling credit card details following an investigation which spanned two years. Raids in the US, Britain, Germany, the Netherlands, Ukraine, Romania and Macedonia led to the sites being closed, many of them after being monitored for months. The […]

April 26, 2012 More
Barclaycard trials PayTag credit card sticker

Barclaycard trials PayTag credit card sticker

Barclaycard is trialling PayTag, a contactless payment card, with a selected group of customers prior to rolling it out to millions of customers by the end of the year. The card is around one third of the size of a standard credit card and it contains a near-field communications (NFC) chip. It is designed to […]

April 19, 2012 More
Store-card debt written off

Store-card debt written off

A court ruling writing off a consumer’s £5,126 store-card debt has opened the door for similar cases according to a report by the BBC. Judge Henrietta Manners ruled at Clerkenwell and Shoreditch county court that Santander must write-off the debt on a credit card held by Diana Mayhew. Ms Mayhew’s store card was automatically upgraded […]

April 17, 2012 More
Annual credit card statements launched

Annual credit card statements launched

Consumers are used to receiving a monthly credit card statement, either online or by post but from today they will receive an annual statement as well. The initiative has been launched by the UK Cards Association and the Department for Business, Innovation and Skills, as part of the credit card industry’s efforts to be more […]

April 2, 2012 More
Barclay’s contactless cards open to fraud

Barclay’s contactless cards open to fraud

An investigation by Channel 4 has found that Barclays’ contactless credit and debit cards, which are used by up to 13 million customers, are at risk of fraud. In collaboration with mobile phone security company ViaForensics, Channel 4 discovered that smartphones integrated with near field communication (NFC) technology can steal data from the cards with […]

March 27, 2012 More