Tag: 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 a�?Mind the Credit Gapa�? report commissioned by aqua credit cards suggests that even people with a good credit rating and earning more than A?50,000 could have a credit […]

December 19, 2012 More
Asda flier promotes expensive cash withdrawals

Asda flier promotes expensive cash withdrawals

The a�?Asda Pricea�� 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 Customers withdrawing cash on their credit card are charged 3 per cent of the amount withdrawn, or A?5, whichever is […]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 A?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 A?185m

Card fraud increases to A?185m

Debit and credit card fraud increased to A?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 A?304.2 […]

September 27, 2012 More
Cash going out of fashion

Cash going out of fashion

Cards are replacing cash as consumersa�� 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 dona��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
Catalogue customers warned to avoid debt spiral

Catalogue customers warned to avoid debt spiral

With household incomes stretched to breaking point many consumers are turning to catalogues to spread the cost of goods such as clothes and furniture, but this could lead to a spiral of debt, a debt charity warns. The Money Advice Trust is receiving around 100 calls a day about catalogue debts, more than it receives […]

June 26, 2012 More
Sainsbury’s promises to offer cheapest loans

Sainsbury’s promises to offer cheapest loans

Supermarket retailer Sainsburya��s is leading the market at the moment with a 5.9 per cent loan rate, and it has also launched a Price Promise Guarantee. The 5.9 per cent rate is available on a A?7,500 loan with a three-year term, while the same loan over five years would be available at 6.1 per cent. […]

May 11, 2012 More
70% of UK adults in debt

70% of UK adults in debt

Seven in ten UK adults are in debt but many are choosing to ignore the problem instead of seeking help before it gets out of hand. Research by The Co-operative Bank found that 29 per cent of people refuse to confront their debt problems. Many do not admit that they are in debt until borrowing […]

March 1, 2012 More
OFT to investigate payday loan companies

OFT to investigate payday loan companies

The Office of Fair Trading (OFT) is to investigate Payday lenders over concern that they may be encouraging people to take out loans without checking that they can afford to repay them. Payday lenders offer short-term loans at very high interest rates and while these can be affordable if they are paid back at the […]

February 24, 2012 More
Price comparison sites helping cash-strapped consumers

Price comparison sites helping cash-strapped consumers

With household incomes under increasing pressure from inflation and unemployment more consumers are turning to price comparison services to help them reduce their outgoings and the New Year has seen the launch of several new sites. Insurance specialist comparethemarket.com has launched a new service which allows consumers to find which credit cards and loans will […]

January 27, 2012 More
70% of websites break EU credit rules

70% of websites break EU credit rules

A pan-European investigation carried out in September 2011 revealed that 70 per cent of websites offering credit cards, loans and finance are failing to meet EU standards. The investigation, which followed a large number of customer complaints, looked at 562 websites across the 27 member states and found that 393 of the sites were failing […]

January 11, 2012 More
Shoppers risk financial security for Christmas

Shoppers risk financial security for Christmas

Although stores have been forced to start their sales early this year to persuade shoppers to part with their money, nearly a third of people in the UK will go into debt over Christmas. Fifty-eight percent of this group will put more spending than usual on credit cards and thirty-nine per cent will go overdrawn […]

December 12, 2011 More
Online shoppers prefer Paypal to credit cards

Online shoppers prefer Paypal to credit cards

Paypal is now more popular than credit cards as the preferred method of payment for online shopping according to a global survey by financial advisory firm KPMG. According to KPMGa��s “The Converged Lifestyle” report, consumers worldwide are rapidly adopting new technologies and Paypal is reaping much of the benefit. The study looked at the online […]

December 7, 2011 More
Nationwide a�?On Your Sidea�� with credit card reward scheme

Nationwide a�?On Your Sidea�� with credit card reward scheme

As part of its a�?On Your Sidea�� campaign Nationwide Building Society has launched a credit card reward scheme which should make shopping more enjoyable for its customers. The scheme, which is available to the building societya��s Visa debit and credit card customers, is designed to help their money go further. It offers discounts at several […]

November 7, 2011 More
OFT to launch investigation into card surcharges

OFT to launch investigation into card surcharges

Consumer group Which? is concerned about surcharges imposed on to consumers who pay by debit or credit cards. It has therefore asked the Office of Fair Trading (OFT) to investigate the matter – which sees retailers, local authorities, estate agents and cinemas all impose the charges. However, the a�?worst offendersa�? are said to be budget […]

February 11, 2011 More