Credit card companies reduce spending for older customers and increase limits for younger ones
March 14, 2008
According to a recent report many credit card companies have been reducing the spending limits on cards for older customers that have become used to credit but have been increasing spending limits for younger customers who may still be getting to grips with responsible spending on and repayment of credit cards.
Recent research shows that around […]
Credit and debit card use sees decline of cheque
March 12, 2008
The increased use of credit cards and debit cards by consumers that want to conduct cashless transactions has resulted in a further decline in the use of the cheque.
At one time cheques were the main method of making cashless payments, hitting a peak of eleven million cheques a day being written in 1990.
However, this figure […]
0% extension from Sainsbury’s Finance
March 10, 2008
Customers that are thinking of applying for a Sainsbury’s 0% balance transfer credit card will now be able to enjoy a longer period of interest free credit, after the bank decided to extend the interest free period on its credit card from 10 months to 12 months.
Customers that transfer their balances onto the card can […]
More people are relying on credit cards
March 7, 2008
According to a recent report an increasing number of people in the UK are relying on their credit cards, with many depending on their cards in order to fund day to day living as well as for expensive or one off purchases.
In the past credit cards have provided flexibility, ease, and convenience for consumers, but […]
Egg stands its ground following meeting over credit cards
March 4, 2008
Internet financial giant Egg is standing its ground over the credit card cancellation row despite concerns voiced by Labour MP, Nigel Griffiths, at a recent meeting with the Chief Executive of Egg, Ian Kerr.
Egg announced a few weeks ago that following a review of over two million credit card accounts around 161,000 customers would have […]
Credit card providers slash limits without customers’ knowledge
March 3, 2008
Credit card customers have been left seething over recent weeks, as the result of a crafty move made by a number of credit card providers in a bid to cull credit card limits.
A number of credit card firms have slashed the credit limit on customers’ cards to just £100 over their existing outstanding balance, and […]
Egg customers outraged by decision
February 29, 2008
Egg customers have been expressing outrage after a recent announcement by the online lender with regards to the withdrawal of credit card facilities.
The online financial giant recently announced that the credit card accounts of over 160,000 customers were going to be closed, and that the cards would no longer be active 35 days after the […]
Missed repayments netting millions for credit card providers
February 27, 2008
According to a recent report credit card companies are netting a fortune in extra profits as a result of consumers missing repayments.
With living costs rising, interest rates still high, and household finances overstretched, not to mention the reduced availability of credit, many consumers are experiencing severe financial strain at present, and this means that […]
Are banks withdrawing credit cards because of profits?
February 25, 2008
In light of the global credit crunch and tighter lending conditions a number of banks and credit card companies have announced over recent months that they will be more stringent about who they give credit cards to, and will be carefully reviewing credit limits on both new and existing accounts.
Credit card application rejections have risen, […]
Credit Card Firms Accused OF Confusing Customers
February 22, 2008
The Office of Fair Trading (OFT) reckons that credit card companies are taking £400m a year from customers by confusing them with small-print jargon and unfair charges. It means that many people pay more for their cards than they need to.
The OFT has unveiled a regime to help keep people clear of unfair cards, creating […]
