Credit Cards

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Barclaycard accused of making nuisance phone calls

Credit card giant Barclaycard has been accused of making nuisance phone calls to its customers, and has been fined as a result of this. Ofcom, the communication regulator, fined Barclaycard £50,000 recently, after finding that the lender was making silent phone calls to its customers. The regulator said that Barclays was guilty of the most [...]

10Nov2008 | admin | 0 comments | Continued
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Cardholders could be making repayments for thirty years

Recent research has been carried out showing that some credit card holders could face making repayments on a relatively low credit card balance for three decades. Officials from uswitch.com, who conducted the research, said that some people could be facing thirty years of repayments even on a debt of just £1400. The research showed that [...]

24Oct2008 | admin | 1 comment | Continued
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Future could see end of credit cards

According to a recent report technological advancements in making payments in the future could see the use of credit cards wane or even end in as little as five years. Some officials have predicted that many people will start paying for purchases in other way such as by phone, fingerprint, or key fob, which will [...]

23Oct2008 | admin | 0 comments | Continued
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Consumers will struggle to get interest free credit card deals

Recent reports have indicated that consumers these days will have a hard time trying for find interest free deals on credit cards as a result of the global credit crunch and the difficulties that have arisen from the credit squeeze. Whereas in the past many consumers with fairly decent credit could switch cards on a [...]

21Oct2008 | admin | 0 comments | Continued
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Credit card debt and students

Anyone that has ever been a student full time will know that it can be a very financially demanding time, and that there are many periods where you can find yourself with very little or no money available. Despite things like student loans and help from parents – and even part time jobs to bring [...]

16Oct2008 | admin | 0 comments | Continued
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Having a dormant credit card could prove dodgy

There are many consumers in the UK that have one or more credit cards, and in many cases some people decide to put their credit card aside to use in emergencies only. If emergencies don’t arise then the credit card account remains dormant even though the account is still open and running. Whilst some people [...]

15Oct2008 | admin | 0 comments | Continued
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Enjoy increased protection when you make purchases on your credit card

According to industry officials consumers that use their credit cards to make purchases online can enjoy greater protection than those that make purchases with their debit cards as a result of the Consumer Credit Act 1974. This applies to a range of purchases including the purchase of tickets. Many people purchase tickets online and become [...]

7Oct2008 | admin | 0 comments | Continued
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Officials warn consumers about 0% balance transfer cards

Over recent months officials have been warning consumers about the problems that have become associated with 0% balance transfer credit cards, which have become very popular over recent years. Many people use 0% balance transfer cards to transfer balances from existing high interest cards, enabling them to them repay the combined balance over a period [...]

2Oct2008 | admin | 0 comments | Continued
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Prepaid credit cards proving popular amongst holidaymakers

Over recent years an increasing number of people have turned to prepaid credit cards, where the card is pre-loaded with cash in the same way as a mobile phone. There are a number of reasons why people are turning to these cards, and amongst the reasons cited are increased security and safety whilst on holiday [...]

1Oct2008 | admin | 0 comments | Continued
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John Lewis credit card follows in footsteps of other providers

Over recent months reports have highlighted how a number of credit card providers in the UK have hiked up their headline credit card rates, as well as various fees and charges that are associated with the credit card, leaving borrowers to pay more for their borrowing at a time when household budgets are already overstretched [...]

30Sep2008 | admin | 0 comments | Continued
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Increased protection offered with credit cards when making online purchases

The UK has become a nation of plastic users, and most of us have used a credit or debit card to make a purchase either online or via the telephone. In fact, the convenience and ease of card payments when it comes to these sorts of transactions has resulted in Brits making all sorts of [...]

29Sep2008 | admin | 0 comments | Continued
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Care needs to be taken with credit cards whilst abroad

Many people that travel abroad each year are insistent on taking their credit cards along with them, not just for ease and convenience but also as a form of back up in the event of a financial emergency whilst they are so far away from home. For many taking a credit card along on their [...]

25Sep2008 | admin | 0 comments | Continued
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Consumers pay through the nose for cash withdrawals on credit cards

With credit conditions still tight and household finances stretched to their limits as a result of rising living costs, higher food prices, soaring petrol prices, and rocketing bills, many people have found that they do not have enough money to make ends meet each month. As a result of this many have found that they [...]

24Sep2008 | admin | 1 comment | Continued
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Credit Card Firms Keep Pushing Up Interest rates

A recent report has shown that whilst the Bank of England has cut the base interest rate three times between December last year and April this year, and has kept the base rate on hold since April, many credit card firms have been increasing the interest charged for borrowing on their cards, making it increasingly [...]

22Sep2008 | admin | 0 comments | Continued
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More people taking up card from Provident Financial

Over recent years the lender Provident Financial has become a well known name in the world of doorstep lending, and the firm has also now acquired a credit card division, Vanquis, which is know to cater for those with damaged credit who are looking for credit card facilities. Since the onset of the global credit [...]

18Sep2008 | admin | 0 comments | Continued
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Kids could benefit from prepaid credit cards

The prepaid credit card market has been increasing in popularity and value over recent years, and a recent report estimated that that the value of this market was due to rocket by 2010. This could be partly due to the global credit crunch, which has resulted in fewer people being able to get their hands [...]

17Sep2008 | admin | 0 comments | Continued
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Over half a billion worth of credit card fraud last year

A recent report has shown that last year credit card fraud amounted to over half a billion pounds in the UK, reflecting concerns that some forms of credit card fraud have been rocketing, partly as a result of the details of UK cardholders being stolen and then counterfeit cards being created and used abroad in [...]

16Sep2008 | admin | 0 comments | Continued
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Prepaid credit cards should get more popular

Over recent years the popularity of prepaid credit cards has been rising amongst consumers that cannot get a standard debit or credit card, and also those that are looking to ensure that they keep within a budget yet want to enjoy the ease and convenience of card payments. A number of providers now offer prepaid [...]

15Sep2008 | admin | 0 comments | Continued
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John Lewis raises credit card rates

UK department store John Lewis has increased the interest rate on its Partnership credit card, joining the many others credit card providers that have been hiking up the rates on their cards over the past year. With the global credit crunch and rising bills already hitting consumer’s pockets hard rising credit card and borrowing costs [...]

1Sep2008 | admin | 0 comments | Continued
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Don’t be slack about credit card security

As most of us have heard the level of plastic card crime has been soaring over recent years, and those of us lucky enough to have avoided becoming victims of this type of crime have most likely been unable to avoid hearing about it. Credit and debit card fraudsters have started to use increasingly sophisticated [...]

27Aug2008 | admin | 0 comments | Continued
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Many relying on credit cards to pay for basic breakdowns

As anyone with gadgets an appliances in their home will know there are often times when products such as these break down or stop working properly and need to be repaired and often this comes at a time when you really don’t have the cash to fund repairs on items. Things are even more difficult [...]

26Aug2008 | admin | 0 comments | Continued
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Credit card borrowing much higher than in 2006

Over the past few years the interest rate has been fluctuating a lot, with five interest rate hikes of 0.25% each between August 2006 and July 2007, and then three interest rate cuts of 0.25% each between December 2007 and April of this year. However, in a recent report industry officials pointed out that the [...]

25Aug2008 | admin | 0 comments | Continued
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Are credit cards being handed out without proper checks?

There are concerns amongst industry officials that whilst the global credit crunch has resulted in a cutback in lending and far tighter credit conditions many credit cards are still being handed out to borrowers without the necessary checks being carried out in terms of the income and financial status of the applicant and the applicant’s [...]

24Aug2008 | admin | 0 comments | Continued
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Cut the cost of fuel with the right credit card

Filling up the car can cost a fortune at the best of times, but over recent weeks many consumers have found that the cost of filling up has become crippling, as petrol prices have soared to record levels. Many households are already trying to deal with strained budgets due to rising living costs and bills, [...]

20Aug2008 | admin | 0 comments | Continued
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Credit cards being used by millions to pay mortgage

According to a recent report there are millions of homeowners in the UK that have been using their credit cards to make mortgage repayments over the past year. Rising living costs and borrowing costs have all been biting on household budgets, and with the country edging towards recession many people do not have the money [...]

18Aug2008 | admin | 0 comments | Continued
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Tighter credit condition even hit wealthier consumers

Whilst anyone on low income will most likely have experienced the recent woes when it comes to getting credit as a result of the tighter credit conditions that have come into play because of the global credit crunch, it also appears that many wealthier consumers have also been affected. According to a recent report credit [...]

3Aug2008 | admin | 0 comments | Continued
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Poll shows many Egg victims were good payers

There was outrage earlier this month after the Internet financial giant, Egg, announced that it was going to be withdrawing the credit card facilities of around 161,000 people. Egg had stated that it no longer felt that these customers were appropriate to extend credit to because their credit profiles had deteriorated since they originally opened [...]

3Aug2008 | admin | 0 comments | Continued
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No joy from Griffiths’ meeting with Egg

Following Egg’s announcement that 161,000 credit cards were to be withdrawn from customers there has been outrage amongst consumers and some industry professional in the UK. Egg, owner by Citibank, reviewed over 2 million credit card accounts, and contacted 161,000 customers to state that their credit card facility was being withdrawn because they posed a [...]

21Jul2008 | admin | 0 comments | Continued
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More people spend more money on their credit cards on Saturdays

A recent report has highlighted how many people spend far more money on their credit cards on Saturdays compared to any other day of the week. In fact, the research indicated that over our lifetimes the average cardholder will spend in excess of half a million on a credit card just on Saturdays, reflecting the [...]

14Jul2008 | admin | 4 comments | Continued
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Credit card costs still spiralling says expert

Interest rates in the UK have been cut three times since December of last year, with the base rate falling to 5% from 5.75%. Since April the base rate has been held at 5%. However, whilst the base rate is now the same as it was in 2006 following the recent cuts, industry officials are [...]

12Jul2008 | admin | 1 comment | Continued
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Consumers not careful enough over plastic card security

With plastic card fraud on the increase, and fraudster finding increasingly sophisticated methods through which to rip people off, it has become increasingly important for cardholders to exercise caution and take steps to protect themselves against card fraud. However, officials from one consumer campaign group have stated that they are concerned over the slack attitudes [...]

8Jul2008 | admin | 3 comments | Continued
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Defaults on credit cards may rise

There are concerns from some industry officials that default levels on credit cards amongst UK consumers could rise, with households already struggling to try and keep on top of debt and financial commitments, with many finding that their income no longer comes anywhere near covering their outgoings. With an increasing number of households being tipped [...]

6Jul2008 | admin | 1 comment | Continued
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Rise in credit card complaint levels

According to a recent report there has been a sharp rise in the level of credit card related complaints. Over the past year the level of complaints relating to various areas of credit cards has rocketed, according to officials, with a number of factors resulting in consumers making complaints. The figures come from the Financial [...]

3Jul2008 | admin | 3 comments | Continued
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More multiple credit card holders now in UK

A recent report has claimed that the number of credit card users with more than one credit card in the UK has been increasing. Officials claim that there has been a rise in the number of multiple cardholders in the UK. Officials are concerned that the number of people that are becoming reliant on credit [...]

2Jul2008 | admin | 0 comments | Continued
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Credit card firms try to tempt consumers into expensive cash withdrawals

As if households in the UK haven’t got it hard enough when it comes to their finances, it appears that some credit card firms are playing on the financial instability of their customers by trying to entice them into taking out cash from a cash point using their credit card. The credit card providers lead [...]

30Jun2008 | admin | 0 comments | Continued
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Good credit card payers being penalised by credit card firms

Many consumers that use their credit cards regularly, repay the balance in a timely and responsible manner, and are not knee deep in debt, are being penalised by credit card companies according to a recent report. The report suggests that credit card companies are penalising good paying customers because they are not generating enough profit [...]

29Jun2008 | admin | 0 comments | Continued
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Get your card provider to cut your interest rate

An industry official has suggested that many customers could be paying for too much interest on their credit cards, stating that credit card companies have failed to cut the interest rate on cards despite three recent cuts in the base rate from the Bank of England. In fact, industry experts state that credit card companies [...]

27Jun2008 | admin | 0 comments | Continued
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Rising costs for credit card users

According to a recent report credit card users in the UK have seen costs rising for the past two years, namely since the Office of Fair Trading placed a ceiling limit on penalty charges that credit card firms could charge for late or missed repayments and for exceeding the credit limit on the card. Credit [...]

23Jun2008 | admin | 0 comments | Continued
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Barclays accused of trying to get consumers to get deeper into debt

Barclays Bank has been at the centre of fresh controversy recently after being accused of encouraging consumers to get even further into credit card debt. Credit card debt levels in the UK are already through the roof, and experts feel that the introduction of a new card from Barclays, which is due to be put [...]

17Jun2008 | admin | 0 comments | Continued
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MP expressed concerns over credit card withdrawals

Following the controversial decision by Internet lending giant Egg to withdraw the credit cards of over 160,000 customers an MP has expressed concern than banks are simply taking credit cards from those that do not earn them enough money in profits and handing them out to those that have to pay a high amount of [...]

14Jun2008 | admin | 1 comment | Continued
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Zero card will benefit some people but not all

A financial industry professional has commented on the recently launched Zero credit card from high street bank, Abbey, stating that whilst the card offers a range of valuable benefits and money saving features, and will certainly benefit many consumers, there are other consumers that may find that an alternative card is more suitable despite the [...]

10Jun2008 | admin | 1 comment | Continued
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Getting a good deal on a 0% balance transfer card can still be difficult

 The global credit crunch that swept across the nation last summer has had long term adverse effects in all areas of the money markets, and consumers looking for good deals on loans, mortgages, and credit cards have seen their choices – and their chances – dwindle fast over recent months. A recent report has suggested [...]

5Jun2008 | admin | 0 comments | Continued
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OFT to launch website to compare credit cards

The office of Fair Trading has announced that it will be launching a website that will enable consumers to compare different credit cards in order to find the card that offer them best value for money based on their needs and circumstances. Like other price comparison sites, consumers will be able to access the website, [...]

3Jun2008 | admin | 0 comments | Continued
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Barclays boss becomes victim of identity fraud

The chairman of Barclays bank has become the victim of identity fraud and theft because of a lack of checks that staff at his own bank failed to carry out. A fraudster managed to pose as the Barclays boss, Marcus Agius, and tricked employees from the bank’s credit card division into sending out a new [...]

29May2008 | admin | 0 comments | Continued
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Airline launches credit card

Budget airline Easyjet, which has become well known as a result of the television documentary Airline, has decided to launch its own credit card, which will provide consumers with the convenience and ease of credit card use whilst enabling them to earn rewards towards their regular travel. The card is targeted towards those that tend [...]

27May2008 | admin | 0 comments | Continued
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Are you still paying off Christmas debt from last year?

At this time of year, with Christmas, New Year, and January sales just around the corner, millions of people are getting set to spend a fortune, and inevitably this means that many people will end up with high levels of debt once the festive season has come to an end. For some people this is [...]

22May2008 | admin | 0 comments | Continued
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Credit card customers urged to take action over rising costs

The high levels of bad credit card debt in the UK coupled with the effects of the credit crunch that has taken hold in the UK has resulted in a number of credit card providers hiking up various fees and charges over the past couple of months, with over 130 rate and fee hikes reported. [...]

21May2008 | admin | 0 comments | Continued
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Credit card customers enjoy the convenience of using the Internet

A recent report has shown that credit card customers prefer to use the Internet to find, apply for, and manage their credit cards. With credit conditions getting tighter and the rates on credit cards getting higher and higher, more and more customers will be looking for better deals on credit cards. The report suggests that [...]

19May2008 | admin | 0 comments | Continued
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Credit card borrowing rockets due to credit crunch

According to a recent report borrowing on credit cards has rocketed over recent months as a result of households struggling to keep on top of their finances, and the problems caused by tighter credit conditions stemming from the global credit crunch. Figures for March showed that the level of unsecured debt in the UK had [...]

19May2008 | admin | 0 comments | Continued
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All in One card could suit some consumers

In a bid to entice customers the Halifax recently launched its All in One credit card, which offers benefits that include ten months interest free credit on both balance transfers and purchases, enabling qualifying consumers to enjoy saving a small fortune in interest if they repay their balance within the interest free period. According to [...]

14May2008 | admin | 0 comments | Continued
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