Credit Cards News for March, 2012

Consumers show frustration with retailers who dont take credit cards

Astonishingly, in an age where credit cards and debit cards are the norm, a new survey has revealed that nearly a third of UK consumers have been faced with the unthinkable in the past year – a retailer unable or unwilling to take a credit or debit card payment. Despite the fact that the majority […]

30th March 2012

Credit card fraud at its lowest in 10 years

It appears that fraudsters are no longer targeting credit cards and are switching back to more ‘old school’ scams such as cheque and phone fraud. Credit card fraud fell by some 7% in 2011 to £341million, the lowest amount in 10 years and part of a three-year decrease of nearly 45%, according to figures released […]

23rd March 2012

Virgin under fire with credit card rate hike

In a move that has taken credit card customers by complete surprise, Richard Branson’s Virgin Money has hiked interest rates on the credit cards of some card holders by as much as 50%. And despite a chorus of disapproval and shock from consumer finance commentators, Virgin Money has basically told customers to either swallow the […]

20th March 2012

FSA chief says free banking outmoded & doesn’t work!

The Financial Services Authority (FSA) has released a scary new report which highlights the key risks which face consumers from the financial services sector over the next 12 to 18 months. The Retail Conduct Risk Outlook is a 118 page analysis of the 15 biggest risks facing the public from their banks, credit card issuers […]

14th March 2012

How expensive is your overdraft?

While credit card card providers are coming under the cosh for their surcharges, one area of personal finance that is still causing many consumers headaches is overdraft charges. Recent EU legislation has meant that credit card marketing and monthly card statements will have to be much more transparent in future about excess charges levied, and […]

7th March 2012

Credit card right offs hit £3.6bn in 2011

If you often wonder why interest rates on credit cards seem so much higher than on secured loans and mortgages, the answer is because in the last few years, a lot of people haven’t been able to pay their credit card bills leaving card issuers to right off huge sums against their profits. Beleaguered UK […]

4th March 2012

Saving money with a credit card switch

According to Sainsbury’s Finance, around three million people in the UK are set to switch credit cards over the next 12 months as the interest-free promotional period runs out on their old cards. Card hopping, or rate tarting as it’s become known, has become very popular with almost two million adults saying they intend to […]

1st March 2012
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