Tag: Credit Card News

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 KPMG’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 | 0 Comments More
Nationwide ‘On Your Side’ with credit card reward scheme

Nationwide ‘On Your Side’ with credit card reward scheme

As part of its ‘On Your Side’ 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 society’s Visa debit and credit card customers, is designed to help their money go further. It offers discounts at several [...]

November 7, 2011 | 0 Comments 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 “worst offenders” are said to be budget [...]

February 11, 2011 | 0 Comments More
Millions relying on plastic for day-to-day living

Millions relying on plastic for day-to-day living

According to the fourth annual Post Office Consumer Credit Report, millions used their credit card this month for daily purchases, suggesting the pressure on household finances is growing. The Government’s spending cuts, together with rising inflation, is having a major impact on families and this is highlighted in the research by the Post Office. The [...]

January 31, 2011 | 0 Comments More
Credit card interest could be capped

Credit card interest could be capped

As part of a crackdown on credit cards and store cards, the Government is considering capping interest rates in a bid to get the consumer a fairer deal. Following the Government’s review into consumer borrowing, Consumer Minister, Edward Davey, and Financial Secretary to the Treasury, Mark Hoban, have asked industry experts for their views as [...]

October 17, 2010 | 0 Comments More
Savers struggle to find decent rates

Savers struggle to find decent rates

Savers are finding it increasingly difficult to get a good return on their money, and many are opting to pay off debt rather than keep their savings in a bank account, Moneynet.co.uk has claimed. Andrew Hagger, spokesperson for the price comparison site, said at least a dozen best-buy savings deals have disappeared from the market [...]

June 9, 2010 | 0 Comments More
Paying bills with credit cards is financial suicide

Paying bills with credit cards is financial suicide

Using a credit card to pay household bills is “financial suicide”, an insolvency expert has claimed. Richard Sorsky, of the UK Insolvency Helpline Debt Advice Service, warned consumers against using their credit card to pay their mortgage, tax, and other financial commitments. Credit cards should be reserved for emergency use only, he said. “Consumers are [...]

June 4, 2010 | 0 Comments More
Coalition Government to crackdown on unfair bank charges

Coalition Government to crackdown on unfair bank charges

The new coalition Government is to introduce measures that will see an end to “unfair” bank charges, as well as excessive interest rates on credit cards. The measures, part of new policies that are being introduced by the Con-Lib Government, comes after a legal battle between the banks and the Office of Fair Trading, which [...]

May 20, 2010 | 0 Comments More
Spending on plastic up 9.2%

Spending on plastic up 9.2%

Spending on credit and debit cards increased 9.2% in March compared to March 2009, new figures from Barclaycard show. This continues a trend highlighted in February, when spending on plastic increased 7.1% on year. Compared to February, credit and debit card spending increased 18% in March for high street and online purchases. This is a [...]

April 15, 2010 | 0 Comments More
Spending on plastic up 7.1%

Spending on plastic up 7.1%

Money spent by UK consumers using credit and debit cards increased 7.1% in February compared to the same month last year. The figures released by Barclaycard follow a 3.6% rise in January 2010 compared to January 2009. However, the data also showed a drop in spending on cards between January and February of 2.5%. Stuart [...]

March 26, 2010 | 0 Comments More
Government should act tough on credit cards

Government should act tough on credit cards

New government legislation on credit card debt does not go nearly far enough, the director of a financial management charity has claimed. Chris Tapp, director of Credit Action, said new laws that stop credit card providers increasing interest rates and limits on credit cards are merely “a baby step in the right direction”. Prime Minister [...]

March 17, 2010 | 0 Comments More
Credit card interest rates soar to 12-year high

Credit card interest rates soar to 12-year high

New research has revealed that millions of credit card holders could face severe debts after card providers have put interest rates up to a 12-year high. The Bank of England’s base rate has been at the historically low rate of 0.5% for almost a year but despite this, average credit card interest rates have risen [...]

February 16, 2010 | 0 Comments More
Credit card borrowing soars in December

Credit card borrowing soars in December

Figures from the Bank of England today revealed that new borrowing on credit cards, loans and overdrafts rose for the first time since June 2009. Consumer credit rose £52 million in December, which surprised analysts who had expected a £400 million fall. For the first time since June, borrowing outstripped the amount being paid back [...]

February 1, 2010 | 0 Comments More
Credit cards chastised for opaque terms and conditions

Credit cards chastised for opaque terms and conditions

Credit card providers need to get better at explaining the terms and conditions of their cards to consumers, a financial expert has claimed. Tobias Van Der Meer, managing director of moneysupermarket.com, said many consumers are unaware how credit card repayments work. Two-thirds of those polled by moneysupermarket.com didn’t know that the cheapest debt is paid [...]

January 22, 2010 | 0 Comments More
Nationwide welcomes crackdown on credit and store cards

Nationwide welcomes crackdown on credit and store cards

Nationwide Building Society has welcomed Government proposals to crackdown on credit and store companies. Earlier this week, a set of proposals by the Government, which are being put out to consultation by the Department for Business Innovation and Skills (BIS), will see a change in the order of priority for credit card repayments, so that [...]

October 28, 2009 | 0 Comments More