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....The government should cut the Bank of Ireland out of the Post Office network and establish a state-run Post Bank, using it to boost services to small firms and rural communities, a new report argues. Ending the partnership – which offers savings, credit cards and mortgages through the Post Office brand – and buying the Dublin-based bank’s Post Office assets would cost up to £2bn, according to research from Cass Business School on behalf of the Communication Workers Union. ... [Read full article on Guardian ]
Wednesday 6th of September 2017 11:01:44 PM
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.... “No one body might solve it on their own,” added the FCA head, who has put the issue of consumer credit at the centre of the watchdog’s agenda this year. Consumer credit, which covers personal loans, credit cards and borrowing for cars, is rising at just under 10% a year, at a time when wages are falling at 0. ... [Read full article on Guardian ]
Monday 18th of September 2017 05:34:39 PM
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....Much like we used to go to a travel agent to arrange flights and hotel rooms for a holiday, packaging a sim card and a handset was traditional for people buying a mobile from one of the big operators – often at great cost. Paying for the sim separately can cost less than a tenner a month while buying the phone outright or financing it with an interest-free credit card can mean massive savings. ... [Read full article on Guardian ]
Monday 18th of September 2017 06:00:02 AM
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....His system costs nothing and is low-tech; it has also received a partial endorsement from one of the UK’s leading experts on credit reporting. For 13 years now, the 69-year-old has added his thumbprint to any application for credit, whether it’s a mobile phone contract, credit card, loan or mortgage. ... [Read full article on Guardian ]
Saturday 23rd of September 2017 06:00:08 AM
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....”. StepChange advisers report overwhelmingly that callers want to repay their debts yet a 2016 survey of its clients found that nearly a third of those with credit card debts said none of their creditors would help them by freezing interest, charges or enforcement action. ... [Read full article on Guardian ]
Wednesday 20th of September 2017 11:48:39 AM
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.... Its business – its only business – is to collect, securely store and aggregate information on more than 800 million individual consumers and nearly 90m businesses worldwide. If your application for a loan is declined, or your credit card suddenly ceases to work, the chances are that it’s because some kind of warning flag has popped up on the screens of one of these three companies. ... [Read full article on Guardian ]
Sunday 17th of September 2017 06:00:33 AM
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....Britain’s debt timebomb is primed and ready to go off at any time. From never-never spending on credit cards to car loans, from overdrafts to payday loans, there is enough high explosive to devastate the economy for a second time in decade. ... [Read full article on Guardian ]
Monday 18th of September 2017 05:26:02 PM
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.... “And that’s because of all of the hacks, all of the reports of things that have gone on. You would be hard pressed to find very many people that haven’t had a problem I think, or heard of a problem from credit cards to whatever. ... [Read full article on Guardian ]
Tuesday 12th of September 2017 11:53:35 AM
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....Credit card lenders appear to be targeting people struggling with unaffordable levels of debt, according to a new report calling on Britain’s financial watchdog to intervene. Research from Citizens Advice finds almost one in five people struggling with debts have had their credit card limit raised without them requesting it. ... [Read full article on Guardian ]
Tuesday 29th of August 2017 11:01:11 PM
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.... She added that “unstable personal finances” often emerged as problems raised by her constituents in Loughborough. The £200bn of debt amassed on credit cards, personal loans and car deals is now at the same level it reached before the 2008 financial crisis and there are fears that rises in interest rates could put more households under pressure. ... [Read full article on Guardian ]
Tuesday 19th of September 2017 12:50:07 PM
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....The Morses Club boss added that, his business aside, the “real bubble” in household debt appeared to be in Middle England. “Where the real bubble inflated years ago and where it is continuing to still be inflated today comes largely in Middle England with unauthorised overdrafts, with multiple credit cards where only the minimum payments are being made,” he said. ... [Read full article on Guardian ]
Wednesday 20th of September 2017 11:48:20 AM
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.... He also insists the business was in great shape financially: “Why else would they want to take it off me?”. But Mayer says that because of Charney’s notoriety no reputable business would lend them money, so they had to borrow “at credit card rates”. ... [Read full article on Guardian ]
Sunday 10th of September 2017 03:00:40 PM
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....When asked how young people made their cash last to the end of the month, one in five said they used their overdraft and a similar number borrowed from family. The next most popular form of borrowing by people in the age group was using a credit card. ... [Read full article on Guardian ]
Tuesday 19th of September 2017 05:32:12 PM
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.... If it’s a relatively small extension/conversion, some people will be able to finance it, at least in part, from savings. Alternatively, or in addition, they might be able to put it on their credit card. ... [Read full article on Guardian ]
Saturday 26th of August 2017 05:59:28 AM
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.... However, without inflation-busting wage rises, the money would need to come from somewhere, and that somewhere would be loans. More than that, the consumer would borrow so much on mortgages, credit cards, overdrafts and car loans that total household borrowing would soar above the 2007 level by 2020, the OBR predicted. ... [Read full article on Guardian ]
Sunday 24th of September 2017 02:39:44 PM
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....The UK’s financial watchdog is to launch a £42m campaign featuring a model of the Terminator star, Arnold Schwarzenegger, to raise awareness of the deadline for making complaints about payment protection insurance. The Financial Conduct Authority’s ad campaign, which is being paid for by the 18 banks, building societies and credit card providers with the most PPI complaints, is being launched exactly two years before the 29 August 2019 deadline for claims. ... [Read full article on Guardian ]
Tuesday 29th of August 2017 04:25:34 PM
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.... If you have defaulted on a mortgage or other secured loan you are likely to be turned down whenever the default was registered. However, a default on unsecured debt such as a credit card or mobile phone contract is less worrying to lenders. ... [Read full article on Guardian ]
Monday 18th of September 2017 10:18:59 AM
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.... . The scammers can plunder your bank account, spend on your credit card, steal your identity or drain your pension to enrich themselves at your expense. ... [Read full article on Daily Express ]
Sunday 27th of August 2017 12:01:00 AM
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....The rapid growth in borrowing by consumers appears to be slowing amid a squeeze on households, despite remaining at levels unseen since the financial crisis. The annual rate of growth for consumer borrowing through credit cards, overdrafts and personal loans slowed to 9. ... [Read full article on Guardian ]
Wednesday 30th of August 2017 11:19:35 AM
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....Given that I am already covering the mortgage payments I am considering buying the house and letting her live in it rent free. The benefit being that she can then release the equity and pay off her credit cards and enjoy some of her hard-earned money. ... [Read full article on Guardian ]
Monday 4th of September 2017 09:26:14 AM
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....25 per cent by the end of net year, as the economy picks up speed. This could likely mean a dramatic increase in the cost of debt repayments, including mortgages and credit cards. ... [Read full article on Daily Express ]
Saturday 16th of September 2017 03:49:00 PM
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. Tracy Banham’s credit card limit was raised several times without asking, despite her making only the minimum payments. ... [Read full article on Guardian ]
Monday 18th of September 2017 05:27:02 PM
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. I missed a repayment on my RBS credit card because I didn’t receive that month’s statement. ... [Read full article on Guardian ]
Wednesday 30th of August 2017 06:00:22 AM
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.... There can be little or no deposit, while monthly payments from as little as £100 can stretch the bill over a two- to four-year period. While credit cards and personal loans make up the bulk of a £200bn debt mountain accumulated by British consumers, car finance has seen the fastest expansion. ... [Read full article on Guardian ]
Tuesday 19th of September 2017 12:50:24 PM
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.... They have much less security of tenure and simply cannot risk going into arrears. They will be in arrears on their council tax and other household bills, credit cards and loans. ... [Read full article on Guardian ]
Wednesday 20th of September 2017 11:47:54 AM
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....Eventually, she hit rock bottom, and turned to Christians Against Poverty, a charity specialising in debt and poverty, in a last-ditch effort to deal with her mounting money problems. At one point, she says, credit card debts, car finance and a mortgage made her fear coming home because there could be a mountain of unpaid bills and repayment demands on the doormat. ... [Read full article on Guardian ]
Wednesday 20th of September 2017 11:49:02 AM
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.... A fix was possible though they learned if they paid a further £150 and in return labour costs would be waived. But the Ricketts had had enough and as Marguerite had paid for the original door with her Tesco credit card they asked the bank to carry out a Section 75 investigation. ... [Read full article on Daily Express ]
Friday 1st of September 2017 09:33:00 PM
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.... What is more, even if you can return an item, the cost of postage may make doing so prohibitively expensive,” he explains. Jan Carton from Citizens Advice says there are some rights which come with credit cards and debit cards regardless of whether goods are being bought under UK law. ... [Read full article on Guardian ]
Sunday 3rd of September 2017 06:00:36 AM
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Latest Finance News related to Credit Card

Royal Bank of Scotland delays introduction of low-rate credit card image
Source : Guardian [Read Article] Sunday 24th of September 2017 02:40:36 PM
. Royal Bank of Scotland has postponed plans to introduce a cut-price credit card amid concerns about the £200bn of lending amassed by UK households. ...
Britain's growing debt problem demands a fresh set of eyes | Phillip Inman image
Source : Guardian [Read Article] Sunday 24th of September 2017 02:39:44 PM
.... However, without inflation-busting wage rises, the money would need to come from somewhere, and that somewhere would be loans. More than that, the consumer would borrow so much on mortgages, credit cards, overdrafts and car loans that total household borrowing would soar above the 2007 level by 2020, the OBR predicted. ...
INTEREST RATE RISE: Markets betting on hike before the end of the year image
Source : Daily Express [Read Article] Sunday 24th of September 2017 12:01:00 AM
....” . She adds that even at today’s rock-bottom interest rates debt can be incredibly expensive: “You can pay more than £50 for an unarranged overdraft or an APR of 30 per cent on a credit card. ...
The foolproof way you can stop ID fraud image
Source : Guardian [Read Article] Saturday 23rd of September 2017 06:00:08 AM
....His system costs nothing and is low-tech; it has also received a partial endorsement from one of the UK’s leading experts on credit reporting. For 13 years now, the 69-year-old has added his thumbprint to any application for credit, whether it’s a mobile phone contract, credit card, loan or mortgage. ...
Jobless and £35,000 in debt: 'I got to the point where I didn’t want to live' image
Source : Guardian [Read Article] Wednesday 20th of September 2017 11:49:02 AM
....Eventually, she hit rock bottom, and turned to Christians Against Poverty, a charity specialising in debt and poverty, in a last-ditch effort to deal with her mounting money problems. At one point, she says, credit card debts, car finance and a mortgage made her fear coming home because there could be a mountain of unpaid bills and repayment demands on the doormat. ...
Tough calls: on the debt crisis frontline with charity StepChange image
Source : Guardian [Read Article] Wednesday 20th of September 2017 11:48:39 AM
....”. StepChange advisers report overwhelmingly that callers want to repay their debts yet a 2016 survey of its clients found that nearly a third of those with credit card debts said none of their creditors would help them by freezing interest, charges or enforcement action. ...
Loan sharks are circling, says one of UK's biggest doorstep lenders image
Source : Guardian [Read Article] Wednesday 20th of September 2017 11:48:20 AM
....The Morses Club boss added that, his business aside, the “real bubble” in household debt appeared to be in Middle England. “Where the real bubble inflated years ago and where it is continuing to still be inflated today comes largely in Middle England with unauthorised overdrafts, with multiple credit cards where only the minimum payments are being made,” he said. ...
Young people worst affected by debt crisis, say charities image
Source : Guardian [Read Article] Wednesday 20th of September 2017 11:47:54 AM
.... They have much less security of tenure and simply cannot risk going into arrears. They will be in arrears on their council tax and other household bills, credit cards and loans. ...
51% of young women have to borrow to make cash last until payday image
Source : Guardian [Read Article] Tuesday 19th of September 2017 05:32:12 PM
....When asked how young people made their cash last to the end of the month, one in five said they used their overdraft and a similar number borrowed from family. The next most popular form of borrowing by people in the age group was using a credit card. ...
Car finance: the fast lane to debt? image
Source : Guardian [Read Article] Tuesday 19th of September 2017 12:50:24 PM
.... There can be little or no deposit, while monthly payments from as little as £100 can stretch the bill over a two- to four-year period. While credit cards and personal loans make up the bulk of a £200bn debt mountain accumulated by British consumers, car finance has seen the fastest expansion. ...
Public inquiry needed into UK's £200bn debt crisis, say senior MPs image
Source : Guardian [Read Article] Tuesday 19th of September 2017 12:50:07 PM
.... She added that “unstable personal finances” often emerged as problems raised by her constituents in Loughborough. The £200bn of debt amassed on credit cards, personal loans and car deals is now at the same level it reached before the 2008 financial crisis and there are fears that rises in interest rates could put more households under pressure. ...
What's your experience of being in debt? image
Source : Guardian [Read Article] Tuesday 19th of September 2017 08:31:16 AM
....Students who started studying in England in 2012 are expected to leave university with debts of almost £40,000, according to a House of Commons Library paper. Consumer credit, which covers personal loans, credit cards and borrowing for cars, is rising at just under 10% a year, at a time when wages are falling at 0. ...
Britain's debt time​bomb: FCA urges action over £200bn crisis image
Source : Guardian [Read Article] Monday 18th of September 2017 05:34:39 PM
.... “No one body might solve it on their own,” added the FCA head, who has put the issue of consumer credit at the centre of the watchdog’s agenda this year. Consumer credit, which covers personal loans, credit cards and borrowing for cars, is rising at just under 10% a year, at a time when wages are falling at 0. ...
'They just kept topping it up' – how one credit card user fell £28,000 in debt image
. Tracy Banham’s credit card limit was raised several times without asking, despite her making only the minimum payments. ...
UK debt is explosive – and it only needs a spark to light the fuse | Larry Elliott image
....Britain’s debt timebomb is primed and ready to go off at any time. From never-never spending on credit cards to car loans, from overdrafts to payday loans, there is enough high explosive to devastate the economy for a second time in decade. ...
How bad is a credit record default for a mortgage application? image
Source : Guardian [Read Article] Monday 18th of September 2017 10:18:59 AM
.... If you have defaulted on a mortgage or other secured loan you are likely to be turned down whenever the default was registered. However, a default on unsecured debt such as a credit card or mobile phone contract is less worrying to lenders. ...
Launch of iPhone X is a reminder of the perils of paying monthly for your mobile image
....Much like we used to go to a travel agent to arrange flights and hotel rooms for a holiday, packaging a sim card and a handset was traditional for people buying a mobile from one of the big operators – often at great cost. Paying for the sim separately can cost less than a tenner a month while buying the phone outright or financing it with an interest-free credit card can mean massive savings. ...
It’s one rule for big data, another for its victims | John Naughton image
Source : Guardian [Read Article] Sunday 17th of September 2017 06:00:33 AM
.... Its business – its only business – is to collect, securely store and aggregate information on more than 800 million individual consumers and nearly 90m businesses worldwide. If your application for a loan is declined, or your credit card suddenly ceases to work, the chances are that it’s because some kind of warning flag has popped up on the screens of one of these three companies. ...
Mortgage alert: Interest rates will rise FOUR times by end of 2018, economists forecast  image
....25 per cent by the end of net year, as the economy picks up speed. This could likely mean a dramatic increase in the cost of debt repayments, including mortgages and credit cards. ...
Tim Cook: Apple products aren't just for the rich image
Source : Guardian [Read Article] Tuesday 12th of September 2017 11:53:35 AM
.... “And that’s because of all of the hacks, all of the reports of things that have gone on. You would be hard pressed to find very many people that haven’t had a problem I think, or heard of a problem from credit cards to whatever. ...
American Apparel founder Dov Charney: ‘Sleeping with people you work with is unavoidable’ image
.... He also insists the business was in great shape financially: “Why else would they want to take it off me?”. But Mayer says that because of Charney’s notoriety no reputable business would lend them money, so they had to borrow “at credit card rates”. ...
Government should cut Bank of Ireland out of Post Office bank, says report image
Source : Guardian [Read Article] Wednesday 6th of September 2017 11:01:44 PM
....The government should cut the Bank of Ireland out of the Post Office network and establish a state-run Post Bank, using it to boost services to small firms and rural communities, a new report argues. Ending the partnership – which offers savings, credit cards and mortgages through the Post Office brand – and buying the Dublin-based bank’s Post Office assets would cost up to £2bn, according to research from Cass Business School on behalf of the Communication Workers Union. ...
Can I buy a house for my mum to live in rent-free? image
Source : Guardian [Read Article] Monday 4th of September 2017 09:26:14 AM
....Given that I am already covering the mortgage payments I am considering buying the house and letting her live in it rent free. The benefit being that she can then release the equity and pay off her credit cards and enjoy some of her hard-earned money. ...
For ‘instant’ access read ‘no’ access to Ulster Bank image
Source : Guardian [Read Article] Monday 4th of September 2017 06:00:05 AM
.... Nobody can tell me how long it will be until I can get to my money. I am two weeks late paying the builder and have a large credit card bill due for payment next week. ...
Is buying online from China a good idea? image
Source : Guardian [Read Article] Sunday 3rd of September 2017 06:00:36 AM
.... What is more, even if you can return an item, the cost of postage may make doing so prohibitively expensive,” he explains. Jan Carton from Citizens Advice says there are some rights which come with credit cards and debit cards regardless of whether goods are being bought under UK law. ...
Justice for garage door and dodgy used motor victims image
Source : Daily Express [Read Article] Friday 1st of September 2017 09:33:00 PM
.... A fix was possible though they learned if they paid a further £150 and in return labour costs would be waived. But the Ricketts had had enough and as Marguerite had paid for the original door with her Tesco credit card they asked the bank to carry out a Section 75 investigation. ...
Former Provident Financial chief forfeits £4m after profit warning image
Source : Guardian [Read Article] Friday 1st of September 2017 05:56:36 PM
....The dramatic fall came after Provident warned that its home credit division could lose up to £120m this year compared with a prediction of a £60m profit just two months ago, a forecast that was already a downgrade on previous expectations. The firm also cancelled its dividend and said City regulator the Financial Conduct Authority was probing the sale of a credit card product by its banking division, Vanquis Bank. ...
Rapid rise in personal borrowing is cooling, says Bank of England image
Source : Guardian [Read Article] Wednesday 30th of August 2017 11:19:35 AM
....The rapid growth in borrowing by consumers appears to be slowing amid a squeeze on households, despite remaining at levels unseen since the financial crisis. The annual rate of growth for consumer borrowing through credit cards, overdrafts and personal loans slowed to 9. ...
Arnold Schwarzenegger joins call to act over mis-sold PPI before deadline image
Source : Daily Express [Read Article] Wednesday 30th of August 2017 09:55:00 AM
....The claims deadline will bring an end to the UK's biggest-ever financial mis-selling scandal that has cost banks and building societies tens of billions. PPI was sold alongside loans, credit cards, store cards and mortgages, with up to 64 million policies sold to around 30 million people between 1990 and 2010. ...
RBS reported me to three credit reference agencies for one missed payment image
Source : Guardian [Read Article] Wednesday 30th of August 2017 06:00:22 AM
. I missed a repayment on my RBS credit card because I didn’t receive that month’s statement. ...
Credit card lenders 'targeting people struggling with debt' image
Source : Guardian [Read Article] Tuesday 29th of August 2017 11:01:11 PM
....Credit card lenders appear to be targeting people struggling with unaffordable levels of debt, according to a new report calling on Britain’s financial watchdog to intervene. Research from Citizens Advice finds almost one in five people struggling with debts have had their credit card limit raised without them requesting it. ...
Hasta la vista, PPI! Schwarzenegger fronts FCA's £42m campaign image
Source : Guardian [Read Article] Tuesday 29th of August 2017 04:25:34 PM
....The UK’s financial watchdog is to launch a £42m campaign featuring a model of the Terminator star, Arnold Schwarzenegger, to raise awareness of the deadline for making complaints about payment protection insurance. The Financial Conduct Authority’s ad campaign, which is being paid for by the 18 banks, building societies and credit card providers with the most PPI complaints, is being launched exactly two years before the 29 August 2019 deadline for claims. ...
Cyber crime reaching epidemic proportions as fraud becomes most common crime in UK image
.... . The scammers can plunder your bank account, spend on your credit card, steal your identity or drain your pension to enrich themselves at your expense. ...
Going up or digging deep, how to finance a home extension image
Source : Guardian [Read Article] Saturday 26th of August 2017 05:59:28 AM
.... If it’s a relatively small extension/conversion, some people will be able to finance it, at least in part, from savings. Alternatively, or in addition, they might be able to put it on their credit card. ...
How to reclaim mis-sold PPI for free image
Source : Guardian [Read Article] Friday 25th of August 2017 10:21:29 AM
.... There is no need to use a claims handling company that will rake off 30% of any compensation you are awarded. If you took out any kind of consumer loan, store card, credit card or mortgage in the 1990s or 2000s, you may have been mis-sold PPI. ...
£1bn dent in cash Isas as household budgets pressure lowers saving and spending  image
Source : Daily Express [Read Article] Thursday 24th of August 2017 03:43:00 PM
.... . The figures also show annual growth in credit card borrowing was at 5. ...
UK consumer spending growing at weakest rate in nearly three years image
Source : Guardian [Read Article] Thursday 24th of August 2017 10:57:53 AM
....Britain’s dominant services sector continued to drive the economy, offsetting a slump in construction and manufacturing. Although weaker consumer spending is worrying in the short term, it could allay fears over households continuing to spend on credit cards, potentially building problems for the future. ...
Identity fraud reaching epidemic levels, new figures show image
Source : Guardian [Read Article] Tuesday 22nd of August 2017 11:01:34 PM
.... Fraudsters get hold of this in a variety of ways, from stealing letters and hacking emails to obtaining data on the “dark web”, and exploiting some people’s willingness to share every detail of their life on social media. There have been cases of people being targeted after posting a photo of their new debit or credit card on Facebook, Twitter or Instagram – which means their 16-digit number, expiry date, cardholder name, account number and sort code are all on display, giving a fraudster much of what they need to steal that individual’s identity. ...
Provident Financial sees nearly £1.7bn wiped off stock market value image
Source : Guardian [Read Article] Tuesday 22nd of August 2017 09:40:50 AM
....The company, which specialises in lending to people in financial difficulty, issued its second profit warning in two months, parted company with its chief executive and cancelled a dividend for shareholders. It also announced that it is facing a regulatory probe by City watchdog the Financial Conduct Authority into the sale of a product that allowed people to freeze their credit card debt. ...
UK credit and debit card spending ​growing​ at fastest rate since 2008 image
....7% rise last year. Rapid growth in credit card borrowing was among reasons why Threadneedle Street moved to force banks to strengthen their financial position this year, asking lenders to set aside £11. ...
Lloyds and Halifax customers face up to 52% APR overdraft fee image
Source : Guardian [Read Article] Saturday 19th of August 2017 06:00:06 AM
....If you missed it, or are yet to open the letter, Lloyds and Halifax have both abandoned existing charges for overdrafts and will instead charge a flat fee of 1p a day for every £7 of overdraft used. It might not sound much, but the bank has admitted that it is equivalent to an APR of 52% – dwarfing what credit card firms charge and more akin to those applied by payday lenders. ...
From airline cancellations to that ropey hotel, what to do about botched holidays image
.... You would have to complain to the individual providers which, if they are based abroad, won’t be governed by UK legislation. If you paid for the hotel or villa directly by credit card, you could lodge a claim for breach of contract with your card issuer under section 75 of the Consumer Credit Act. ...
Rail users face steepest fare rise in five years as inflation hits 3.6% image
Source : Guardian [Read Article] Tuesday 15th of August 2017 08:32:02 AM
.... That has led to a rising cost of living, heaping pressure on households. Consumers are using credit cards to fund spending and the Bank of England has expressed alarm about the increase in personal debt. ...
£14b​n class action case against Mastercard revived image
Source : Guardian [Read Article] Monday 14th of August 2017 05:26:33 PM
....Lawyers for former financial ombudsman Walter Merricks have made their application to the UK’s Competition Appeal Tribunal just weeks after it refused to certify his claim. Merricks’ claim was lodged on behalf of nearly 46 million consumers and alleged that Mastercard’s interchange fees forced consumers to pay higher prices to businesses that accept the credit card over a 16-year period, therefore breaching EU competition law. ...
The UK debt tide is rising – how can you avoid drowning? image
Source : Guardian [Read Article] Monday 14th of August 2017 06:00:35 AM
....Campaigners have long warned of the problem and it is now official: Britain has a growing debt problem at levels not seen since the global financial crisis almost a decade ago. Borrowing through credit cards, overdrafts and car loans - unsecured consumer credit - and other forms of financing has topped £200bn, confirming grim predictions from debt charities of the spiralling problems they see on the ground. ...
How I took on a car hire company – and won image
Source : Guardian [Read Article] Saturday 12th of August 2017 06:00:37 AM
.... I was annoyed, but it was not as outrageous as some charges Goldcar has levied on readers. I responded with a curt email to the CEO – not hard to find – saying he took money from my credit card at his peril. ...
Bank of England to keep animal fat in banknotes despite complaints image
Source : Guardian [Read Article] Thursday 10th of August 2017 10:11:31 AM
....Polymer banknotes are used in more than 30 countries. It emerged during the Bank’s research that plastic containing animal fat is also used in debit and credit cards, mobile phones, carrier bags, cosmetics, soaps, household detergent bottles and car parts. ...
Contactless transactions take UK debit and credit card use to record high image
Source : Guardian [Read Article] Wednesday 9th of August 2017 05:36:58 PM
....55 in July 2011. The amount of credit card spending was £16. ...
Why are Britain’s banks blaming customers for online banking fraud? | Miles Brignall image
....The other big failure is the banks’ inability to spot these frauds, which are perpetrated through accounts they manage. Staff who can spot a fake credit card transaction in seconds do nothing if £20,000 is paid into an account that may have been dormant for years. ...
Mortgage rates will rise – so 
are you ready 
to take a hit? image
Source : Guardian [Read Article] Tuesday 8th of August 2017 04:52:17 PM
....The growing amount of debt amongst consumers is of great concern to campaigners and charities. Warnings that the bubble of unmanageable consumer debt is growing at an alarming rate peaked recently when the Bank of England told lenders that they face action against reckless practices amid a “spiral of complacency” – mostly surrounding credit cards, car finance and cheap personal loans. ...
Credit crunch, 10 years on: fate of RBS shows global crisis is not over image
....His idea is for central banks to become a “pawnbroker for all seasons” – agreeing in advance the terms of any loans by a lender of last resort, helping to avoid the moral hazard problem where banks take risks because they know they are going to be bailed out. A senior Bank of England official, Alex Brazier, has recently warned about banks dicing with a “spiral of complacency” in their consumer lending – when borrowing on credit cards, via unsecured loans and car loan schemes has topped the £200bn level for the first time since the crisis. ...
Best credit card deals for August image
Source : Independent [Read Article] Wednesday 2nd of August 2017 07:44:00 PM
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Related to :
Using Brexit to RIP of customers: Here's how YOU can beat great British rip-off image
Source : Daily Express [Read Article] Wednesday 2nd of August 2017 12:01:00 AM
.... . There is no escape when you arrive, with holidaymakers being duped out of nearly £500million when using debit and credit cards overseas. ...
ESSATI garage doors victim vows to fight warranty “con” image
Source : Daily Express [Read Article] Monday 31st of July 2017 05:15:00 PM
....“They are now saying I put something in the way of the door and then closed it allowing it to break, it’s utter nonsense and more wriggling out of responsibilities,” says Charlie. As his wife Marguerite paid some of the door’s first costs with her Tesco credit card, the bank is now carrying out a Section 75 investigation. ...
Credit card Britain: £1.5BN of debt racked up in ONE MONTH sparking fresh crisis fears image
. Consumer credit, including credit cards, car finance and personal loans surged by 10 per cent from the same time last year, Bank of England figures today showed. ...
Unsecured consumer credit tops £200bn for first time since 2008 image
Source : Guardian [Read Article] Monday 31st of July 2017 08:55:04 AM
. The financial watchdog has announced fresh measures to protect consumers from spiralling debt as official data showed that borrowing through credit cards, overdrafts and car loans has topped £200bn for the first time since the global financial crisis. ...
Lenders must stop stoking demand for loans: or there’ll be another firestorm image
....Britain is on a consumer credit binge. Over the past year, growth per head of population has increased by 1% while the amount consumers have racked up – on their credit cards, on car finance and in unsecured personal loans – has increased by 10%. ...
Santander cuts back lending amid Bank of England concern over personal debt image
.... Net lending – which takes into account how many people remortgaged away from Santander – fell over the half year by £200m. Net consumer finance lending – covering car loans and credit cards – fell to £97m from £266m, partly due to “a decrease in the stock of new car registrations”. ...
Barclays sets aside extra £700m for PPI claims image
Source : Guardian [Read Article] Friday 28th of July 2017 07:25:34 AM
....7p by lunchtime – below the 233p level at which Staley bought shares in November 2015 before taking the helm. The bank has a large credit card business, Barclaycard, part of the consumer credit market that is being scrutinised by the Bank of England, which this week warned of a “spiral of complacency” about mounting consumer debt. ...
Lloyds takes fresh £1bn hit from PPI compensation claims image
Source : Guardian [Read Article] Thursday 27th of July 2017 08:29:53 AM
.... Lloyds said the latest provision was needed because complaints had increased to 9,000 a month ahead of the FCA’s time bar on complaints of August 2019. As a result of a turnaround programme put in place by Horta-Osório, the bank is now focused on the UK and faces questions about its exposure to the economy at a time of Brexit and concerns voiced by officials at the Bank of England about the growth in lending to customers on credit cards and personal loans and to buy cars. ...
Britons sit on ‘ticking time bomb’ as interest rates HIKE risks financial security image
.... . Most of this is mortgage debt but Britons have also borrowed record levels on credit cards, overdrafts, car loans and unsecured personal loans. ...
Greece's €3bn bond sale doesn't mean its debt crisis is at an end | Nils Pratley image
.... One suspects Neil Woodford’s fund and Invesco, long-standing investors with 19% stakes each, will be loyal. The £40m impairment charge hasn’t got worse since last month’s profits warning and the non-doorstep divisions, including the big Vanquis credit card operation, appear unaffected. ...
Quarter of personal loan applicants 'seeking half their annual salary' image
....The latest evidence of a rise in borrowing to fund new car purchases, holidays and to help clear older debts follows a stark warning from the Bank of England that lenders offering money on easy terms risked sparking a fresh financial crisis. Banks, credit card companies and car loan providers could be dicing with a “spiral of complacency”, the Bank’s director for financial stability said on Monday. ...
Debt-ridden families a ticking time bomb for EVERYONE in Britain, Bank of England warns image
. Households owing high amounts of credit card and loan debt are a risk to themselves and also the banks that have lent to them, according to the institution's financial stability chief . ...
Bank of England warns of complacency over big rise in personal debt image
Source : Guardian [Read Article] Monday 24th of July 2017 05:40:59 PM
. The Bank of England has told banks, credit card companies and car loan providers that they risk fresh action against reckless lending as it warned of a looming “spiral of complacency” about mounting consumer debt. ...
ATOL and ABTA: Financial protection for your summer holiday image
Source : Daily Express [Read Article] Sunday 23rd of July 2017 02:44:00 PM
....co. uk, says if you are one of the growing number of travellers who go it alone it makes sense to pay by credit card: "If you spend between £100 and £30,000 your card issuer is equally liable for any losses under Section 75 of the Consumer Credit Act. ...
Britons travelling to Europe offered just €0.88 for £1 image
Source : Guardian [Read Article] Friday 21st of July 2017 06:31:18 PM
....11. It means cycling fans using their credit cards at the denouement of the Tour de France in Paris on Sunday will get an exchange rate of around €1. ...
Who should pay for multiple errors on Travel Trolley flight tickets? image
Source : Guardian [Read Article] Wednesday 19th of July 2017 06:00:12 AM
.... It has since sent multiple emails assuring me they were due to a “technical error”. I am now doubting whether it was me who made the original mistake, as the generation of e-tickets clearly involves manual intervention (computers don’t make multiple mistakes) and I entered the shortened version of my name on the payment details as that’s how it appears on my credit card. ...
End of the 'rip-off': all charges for paying by card to be banned image
Source : Guardian [Read Article] Tuesday 18th of July 2017 11:01:04 PM
....All extra charges added to payments for goods and services made by card are to be outlawed, ending a “rip-off” that costs Britons hundreds of millions of pounds a year, the government has announced. Fees for paying with plastic – most commonly a credit card – are routinely levied on everything from low-cost flights and tax bills to cinema tickets and takeaway meals, but the Treasury announced that these would be consigned to history from January 2018. ...
How credit score agencies have the power to make or break lives image
Source : Guardian [Read Article] Monday 17th of July 2017 06:00:43 AM
....Many people, like Nasser, are only dimly aware of credit reference agencies – multimillion-pound companies which lurk in the background of our lives but which have the power to make or break our financial decisions. They receive, store and rate information about the financial history of every adult spender in the UK – their loans, credit card debts, county court judgments and mobile phone contracts. ...
Could you spot a bogus Airbnb listing among the genuine ones? image
Source : Guardian [Read Article] Saturday 15th of July 2017 06:00:45 AM
....The couple’s request for a deposit went through to an extremely well-crafted clone of the real TripAdvisor rental page, replete with fake reviews from previous inhabitants, a count of how many other potential tenants had viewed the page, and even a working Google Map showing the rough location of the flat. Clicking on “reserve now” takes the target to a second, equally accurate clone of TripAdvisor’s payment page, where credit card information is requested. ...
Rise in credit card default rate adds to concerns over household finances image
. The number of people defaulting on their credit card bills and personal loans jumped in the three months to the end of June, according the Bank of England, underlining the pressure on household budgets as prices rise faster than wages. ...
Bank of England warns it will go after firms looking to mask risks image
Source : Guardian [Read Article] Monday 10th of July 2017 04:03:22 PM
....The 2007 credit crunch was characterised by an alphabet soup of acronyms for complex financial vehicles and products used by banks such as CDOs (collateralised debt obligations) and SIVs (structured investment vehicles). With regards to lending, Woods’ remarks were published a week after the Bank of revealed it was stepped up its scrutiny of lenders providing finance on credit cards, personal loans and to buy cars. ...
It’s a testing time for BA passengers who lost out in IT chaos image
Source : Guardian [Read Article] Monday 10th of July 2017 06:00:06 AM
.... You need to write to the company asking for compensation citing the act. If it turns you down, you could try claiming against your credit card company. ...
The Goldcar golden rule … always take a photo when you return a hire car image
....69. We paid a deposit of €1,205 by credit card. ...
Beware ‘the devil’s debt’ – that tempting store card offered at the tills image
.... It is here where store cards are sold to consumers, with their sky-high interest rates which can typically come in at between 25%-30%. Essentially credit cards which can only be used in one particular store – for example, Miss Selfridge, New Look or Topman – store cards have been identified as a growing problem. ...

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