All Not Well At Egg
February 20, 2008
Egg’s decision to shed 161,000 of its credit card holders was obviously made in the knowledge that its losses for 2007 were going to be bad news. They are.
Losses at the financial services firm jumped to around £250m – mainly due to ongoing problems with customers’ bad debts. The new owners of Egg, Citigroup, wrote […]
Twist in tale as credit card customers made to pay most expensive debt last!
February 14, 2008
Credit card customers are being tricked by several major card providers. The customers are being forced to pay off their lowest interest debts first, thus leaving the biggest debts until the end, according to moneysupermarket.com.
They have found 8 of the major providers carry out this practice, with Nationwide being a rare exception.
By imposing this practice, […]
Egg Decision Could Spread To Other Credit Cards
February 13, 2008
Egg’s decision to cut unwanted customers from its list could lead to pain for borrowers who use new deals on different credit cards to maintain their low-interest repayments.
Until the credit crunch hit the UK credit cards were easy to obtain and the 0% balance transfer deals were attractive to people who transferred a balance from […]
Has Egg Got It Wrong?
February 11, 2008
Internet bank Egg stands accused of discriminating against responsible customers as well as not renewing cards for 160,000 debt-ridden credit card holders.
There have been calls for the Office of Fair Trading to launch an enquiry into Egg’s decision to stop 160,000 people using their cards. The claim by Egg was that it had taken the […]
Brits becoming reliant on credit cards
February 8, 2008
According to a recent report many Brits are becoming reliant on their credit cards, using them to make both day to day and one off purchases but failing to repay the balance each month in many cases.
The figures show that less than 50% of cardholder repay their balance in full each month, and are therefore […]
Watch out for the pitfalls of a 0% balance transfer card
February 6, 2008
Experts are urging consumers to be mindful about the pitfalls of 0% balance transfer credit cards, stating that consumers need to read the small print to make sure that they do not end up paying hefty fees for transferring their balance or for using the card for purchases.
At this time of year, following the expensive […]
Cash Transactions Have A Wide Scope On Credit Cards
January 25, 2008
Some people have discovered that credit card companies have widened their definition of ‘cash’.
Withdrawals of cash at ATMs on credit cards have been subject to immediate interest payments for a very long time, and most people – although they may not like it – are aware of that fact.
Recently one customer discovered that he had […]
Consumers Rely On Credit Cards But Bills Remain Unpaid
January 23, 2008
Consumer debt is continuing to grow. Finances of households are coming under increasing strain, millions of bills are being left unpaid, and 40% of people admit that they are reliant on credit.
Research by the Post Office shows that 25% of credit card holders are more dependent on credit at the beginning of 2008 than they […]
Cashback Credit Cards – Latest Deals
January 21, 2008
If you pay off your outstanding credit card balance every month, then the interest rate is of no concern to you, meaning that you could look for a card that offers some other kind of perk. Such a card may be useful if you are intending to use a credit card in the January sales.
The […]
Tesco now cleared of credit card fraud
January 18, 2008
A recent credit card scam in Aylesbury could have been caused by a corrupt shop employee. The scam has caused a number of people’s bank accounts to be stolen and originally Tesco’s was blamed for the scandal. However, now it seems Tesco’s is in the clear which has definitely come as a relief to the […]
