Credit card rates continue to rise
Posts Tagged ‘Bank of england’
Credit card rates continue to rise
By Reno | June 18th, 2011 | Credit CardsFor well over two years the base interest rate in the UK has stood at a record low of just 0.5 percent, which is the lowest it has ever been in the history of the Bank of England, spanning over three centuries. However, for the many people that thought their credit card interest rates may [...]
Halifax credit card to track base rate
By Reno | April 23rd, 2011 | GeneralIt has been reported recently that the High Street banking giant Halifax is set to change the interest rate structure of credit card holders by giving customers a personal interest rate that will track movements in the Bank of England base rate. This means that if the Bank of England increases the base interest rate [...]
Improvements to credit card lending
By Reno | September 2nd, 2010 | GeneralAccording to recent reports July saw improvements when it came to credit card lending in the UK, which many believe shows that there are tentative signs of recovery in the UK economy. Figures have been released by the Bank of England, showing that lenders have been willing to extend slightly more credit to consumers recently.
The [...]
Increase in credit card write offs by banks
By Reno | June 25th, 2010 | GeneralAccording to a recent report there has been an increase in the number of credit card related write offs by UK banks and other UK financial institutions. Figures have been released by the Bank of England, showing that in the first three months of the year the level of credit card write offs by banks [...]
Ways to cut back on credit card interest
By admin | May 7th, 2010 | FeaturedMany credit card users in the UK will know just how crippling the cost of paying interest on an outstanding balance can be, and even though the Bank of England base rate has been at an all time low of 0.5 percent for a year now the interest rates on many credit cards seem to [...]
The controversy over credit cards heightens
By admin | December 21st, 2008 | FeaturedOver recent months there has been increasing controversy in relation to credit card providers in the UK, but over the past couple of months this has really heated up, with many accusing credit card companies of fleecing their customers. One of those making this accusation is no other than the Prime Minister himself, Gordon Brown, [...]
UK financial watchdog to get more powers
By admin | January 14th, 2008 | GeneralThe UK’s financial watchdog and regulator, the Financial Services Authority, is to be granted greater powers by the Chancellor of the Exchequer Alistair Darling in a bid to help avoid another Northern Rock style crisis in the future. According to recent reports Darling plans to give the FSA the power to seize customers’ cash in [...]
Interest rates fall to 5.5%
By admin | January 2nd, 2008 | GeneralThe Bank of England has announced that the base rate in the UK will be cut by a quarter point to 5.5%. In August 2006 the interest rate stood at 4.5%, but a series of five interest rates to try and bring rising inflation under control saw the base rate rocket to 5.75% within a [...]
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