Credit Cards

credit-cards

FCA finds credit card market 'working well' but wants extra protection for minimum repayment borrowers

Consumer champions the FCA have been looking into the (fairly sizeable) UK credit card market to make sure it still provides a sterling service to consumers, and  last November it detailed exactly what it was going to do. The regulator has now published interim findings, and even come up with some helpful suggestions on how…

Tesco cut value of ClubCard points by half for credit card holders

The millions of people who have a Tesco credit cards have some bad news this morning - Tesco have halved the value of the ClubCard points they get. This is thanks to new laws that have forced a number of high street lenders to pull back on their cashback offers. Regarding Tesco, around 2.8m make savings…

Credit card holders can apply for compensation after being sold free security products

Two million credit card holders are going to be able to make compensation claims, after being sold security products that were in fact, free. There's £270 each up for grabs for customers from RBS, Lloyds, AIB banks, Barclays, Capital One, HSBC, Santander, Clydesdale Bank, Danske Bank, Tesco Personal Finance and The Co-operative Bank. So what's the craic? Well, Affinion International…

Credit card spending at dangerous levels?

It seems we’re becoming victims of our own savvyness when it comes to credit cards. Business analysts Moody’s have produced a report that suggests UK households are risking a “personal debt crisis” in relation to the affordability of their credit card repayments. The problem? We’re all taking advantage of the glut of lengthy interest-free credit…

Is this the end of cashback credit cards?

A new cap on the fees that credit card companies charge retailers is about to hit card payments in the UK. But while the jury is out on whether this will end up being a good or a bad thing for consumers, one immediate effect is that cashback credit cards are already being withdrawn in…

Credit card interest charges still flying high

We’ve had the 0.5% base rate for five years now, and while mortgages are currently at record breakingly low rates, and with long fixes, not all forms of credit have also dropped with the base rate. Credit card rates in particular are actually higher than those seen before the base rate drops. So what gives?…

FCA investigation into credit card market to ensure consumers' interests protected

The FCA are at it again, actually doing something for consumers. This time they have outlined exactly what they are going to do to verify "whether credit cards are marketed in a way that works against the best interests of consumers". The investigation was announced back in April, but the details of the specific areas…

Child maintenance dodgers could be declined credit

Parents who neglect their child maintenance payments may end up being turned down for mortgages, credit cards and loans under new government plans. The government wants to be able to share information with credit agencies, which will then be used by banks as back-up to determine whether they offer cash to the customer. If that…

Which!!! fraudster is using your Facebook to obtain false credit cards in your name...

Social media is supposed to be fun. Ish. A way to connect with childhood sweethearts and a means for potential employers to decide whether you are the right fit for their company before they hire you. But now Which!!! have found a new, less amusing use for your Facebook profile- a way to get a…

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Aldi loves credit cards

Aldi loves credit cards

There's a lot to like about Aldi - you don't get a myriad of offers for loans, mobiles, banking or pet insurance; you just walk in, do your shopping and go home without being mithered. One drawback was that you couldn't use your credit card in all of its stores... but that's all about to…

Credit card hacks allow snides to steal your money

Over in That America, they're currently getting ready to join the rest of us in the chip-and-pin world. However, while the USA finally catches up with the rest of us, hackers have been indulging in a stealing spree, grabbing all the numbers they can. There's programs called RAM Scrapers, which sounds like an awful sexual…

Which!!! call for an end to '0%' credit cards

Since the FCA took over responsibility for consumer lending from the FSA, we’ve been impressed with how proactive they have been in identifying problems and trying to address them. They’ve even taken on the payday lending giants and the big banks in their financial conduct crusade. However, our friends over at Which!!! have decided they…

Best credit cards for customer satisfaction? They aren't necessarily the cheapest...

Things are possibly looking up economically, so what better way to celebrate than by slapping extra purchases on plastic. It’s not like that’s got us in trouble in the past or anything… New figures show that credit card borrowing is rising by 5.3% a year, but it’s OK, because borrowers are becoming more savvy  with…

No more loyalty points with Amazon credit card

Have you got an Amazon credit card? Well, you might want to switch to another reward card because, as of this month, you won't be able to reap loyalty points to spend with them. Why? Well, MBNA - who issue the Amazon.co.uk MasterCard - said that their relationship with the internet behemoth is "coming to an end"…

Apple scoops up major credit cards for new iPhone payment thing

Visa, Mastercard and American Express have all been signed up to Apple's new payment system. The iPhone 6 is going to include a new payments system allowing owners to pay in stores simply by tapping their phone on a reader. And now it sounds like they've got the big guns on-board. The iWallet app will…