Credit Cards News for January, 2011

Credit card spending at 6 year low

A new survey out yesterday revealed that credit card spending was a mere £97bn in 2010, the lowest figure since 2005. Credit card borrowing dropped by an average £500 per household, and with the borrowing habits of consumers changing it looks to be a challenging year for credit card providers. The annual ‘Precious Plastic report‘ […]

18th January 2011

New CCD rules to hike credit card rates

New rules which finally come into force from February 1st 2011 aimed at giving the consumer a better deal from credit card companies and other financial institutions seem set to raise the credit card rates on many new applications. The Consumer Credit Directive (CCD) was adopted by the European Council in May 2008, but much […]

15th January 2011

Row grows over credit card chip & PIN security

An ex-labour MP and academics at Cambridge University are embroiled in a row over the release of research material which highlights a serious weakness in the security of the chip and PIN system now used on UK credit cards. Ross Anderson, a Professor of Security Engineering at Cambridge University’s Computer Laboratory has confirmed that he […]

6th January 2011

Government urges credit card giving

In a bid to assist the falling revenues faced by many charities the Government has taken the unusual step of suggesting that people could give to charity when they use credit cards and debit cards in retailers or even at cash machines. There are even suggestions that the public could donate to worthy causes when […]

1st January 2011
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