Best balance transfer cards: TSB has longest term of 29 months
on November 17, 2020 at 1:51 pm
Credit card providers are stealthily slicing 0% balance transfer windows leaving borrowers facing shorter time periods in which to repay their debts.
Creation credit card: Fraud problem locked me from my account
on November 13, 2020 at 12:31 pm
Peter Wilson, 69, from Bury St Edmunds, Suffolk, had his IHG Rewards Creation credit card replaced in May after he noticed thousands of pounds of payments to Apple on his account.
More borrowers turn to sub-prime credit cards thanks to pandemic
on November 11, 2020 at 3:57 pm
The number of new ‘sub-prime’ borrowers taking out credit cards increased by 143% between August and September, according to Equifax, more than twice the jump in overall card openings.
Netflix and Spotify subscriptions could now boost your credit score
on November 9, 2020 at 4:57 pm
Council tax payments and subscriptions to Amazon Prime, Netflix and Spotify could boost Britons’ credit scores from today under a new feature launched by one of the big three credit reference agencies.
Credit card chaos after 500,000 accounts are taken over by Jaja
on November 4, 2020 at 10:06 am
Post Office, Bank of Ireland and AA customers were bought by Jaja when it took over the Bank of Ireland’s credit cards. But since the transfer customers have reported a plethora of issues.
Borrowers face ‘lender lottery’ as 323,000 payment freezes end soon
on October 22, 2020 at 8:25 am
Hundreds of thousands of people still on breaks from their mortgages and unsecured debts face a potential ‘lender lottery’ from next month as blanket protections are removed.
Data protection watchdog to investigate Klarna over marketing emails
on October 14, 2020 at 3:33 pm
The Information Commissioners’ Office said it was ‘making enquiries’ into the Swedish firm after receiving more than 90 complaints from people who received its weekly deals email.
Move your debts to a balance transfer card before they disappear
on October 14, 2020 at 7:40 am
There are just 66 balance transfer cards currently on the market, compared with 94 last year, according to finance analysts Defaqto. The cards allow customers to shift their credit card debts to a new card.
Xbox fans left disappointed by Klarna, Smyths Toys and GAME error
on October 7, 2020 at 1:16 pm
Thousands of gamers who had hard credit checks run on them and were told a direct debit to pay for the console had been set up were emailed telling them their application had actually been unsuccessful
Xbox buyers left in the dark after Klarna, GAME and Smyths blunder
on September 30, 2020 at 3:08 pm
Consumers last week were subjected to hard credit checks and had direct debits set up to pay for the new console over two years, but were unable to actually purchase it after retailers ran out of stock.
Britain borrows more in August amid worries over worsening household finances
on September 29, 2020 at 12:31 pm
Britons borrowed more on credit cards, loans and overdrafts last month compared to July and saved less, official figures revealed, amid concerns household finances are increasingly under strain.
Xbox buyers face Klarna drama with Smyths Toys and GAME
on September 24, 2020 at 12:39 pm
Thousands of shoppers who tried to pre-order the latest Microsoft Xbox were left fearing for the state of their credit scores after a bungle between high street retailers and the ‘buy now, pay later’ service Klarna.
Gold Amex: I don’t want to pay fee – where can I go next for Avios?
on September 21, 2020 at 1:21 pm
Despite its considerable travel benefits it is perhaps no wonder some may wish to ditch the American Express Preferred Rewards Gold card when they have claimed all of the bonuses they can.
Why is Google making thousands of pounds from unauthorised debt adverts?
on September 15, 2020 at 7:32 am
Google is still making thousands from unregulated firms posing as legitimate charities, nearly a year on from introducing new guidelines which it said would help end the practice.
Credit card availability bounces back for those with higher credit scores
on September 15, 2020 at 7:32 am
Figures from the credit rating agency Experian found half of consumers who searched for a credit card last month were shown at least one they were guaranteed to get, up from 24% in July.
Credit card and loan borrowing is predicted to fall by a record amount
on August 14, 2020 at 8:03 am
Experts said Britain’s borrowing habits ‘will have changed permanently’ as a result of the coronavirus pandemic.
Coronavirus: Borrowers paid off £2,000 of debt each in lockdown
on August 12, 2020 at 2:53 pm
The credit reference agency said the amount people owed in non-mortgage borrowing fell from £11,615 to £9,681 between the 23 March lockdown and 8 June.
American Express offers £5 cashback if you spend £10 in local shops
on August 3, 2020 at 10:31 am
To tempt shoppers back to high streets, credit card giant American Express has launched a reward deal for customers who spend money in local stores and restaurants.
How to get a £20 meal for £5 using Rishi Sunak’s dining out scheme
on August 2, 2020 at 3:56 pm
Diners looking to take advantage of the Government’s 50% discount scheme from Monday should know they can get an additional £5 off at certain shops, provided they use their credit card.
Barclays and Santander say 677k borrowers took payment holidays
on July 30, 2020 at 10:08 am
Hundreds of thousands of customers of Barclays and Santander have taken payment holidays, as official figures found consumers had cleared billions of pounds of debt over the last few months.
A third of shoppers don’t feel delayed payments count as debt
on July 23, 2020 at 6:48 am
Due to the rise of buy now, pay later schemes, more people are purchasing items without paying for them at the time, despite this technically putting many into debt.
Under-fire Klarna launches campaign telling shoppers to spend less
on July 14, 2020 at 6:40 am
The Swedish company, one of Europe’s most successful start-ups with 8.6million UK users, has been on the back foot over the last few months amid claims it encourages more than they can afford.
Could a Netflix subscription one day help you get a mortgage?
on July 9, 2020 at 6:33 am
The market research company Kantar estimated in May a fifth of all UK households had signed up to a TV streaming service like Amazon Prime, Netflix or the newly launched Disney+ since lockdown.
Cheaper ways to borrow as banks bring back expensive overdraft rates
on July 7, 2020 at 10:02 am
While people struggling financially will be able to ask for support and still take advantage of a £500 interest-free overdraft until October, many borrowers are in for a shock as banks hike the cost of overdrafts.
Lower rates for careful Zopa credit card users
on July 5, 2020 at 10:56 am
In a challenge to the big banks, peer-to-peer lender Zopa plans to launch its first credit card later this year.
Credit card and loan payment holidays extended for three more months
on June 19, 2020 at 9:32 am
Hard-up credit card and personal loan borrowers will be able to put their payments on hold for another three months, the FCA has confirmed.
Credit card rates hit record high as banks squeeze poorer borrowers
on June 16, 2020 at 1:31 pm
Credit card rates hit a record high this month despite a record low base rate as providers hiked the cost of borrowing for those with poor credit histories or turned down by mainstream banks.
Britain faces £6.1bn personal debt tsunami, StepChange warns
on June 9, 2020 at 8:24 am
The Government should hand out £5bn in grants to those hardest hit financially so they can repay their debts and pay bills, StepChange says.
Credit card payment holidays could be extended until September
on June 8, 2020 at 12:59 pm
Credit card and loan borrowers may be able to put their payments on hold until the end of September, under plans reportedly being considered by banks and regulators.
Regulators blacklist nine unauthorised debt advice companies since April
on June 6, 2020 at 7:17 am
Unscrupulous advertisers are mimicking the names of legitimate debt charities, research has revealed, raising fears that vulnerable people looking for help are at risk of bad advice.
Coronavirus UK: Consumer debt falls a record £7.4bn in April
on June 4, 2020 at 12:05 pm
Britain’s £221billion consumer debt pile shrank by nearly £7.5billion in April, the largest fall ever recorded by the Bank of England, as households took repayment holidays and cut their spending.
FCA launches investigation into guarantor lender Amigo Loans
on June 2, 2020 at 3:17 pm
Amigo has seen an increase in new complaints made about it to the Financial Ombudsman Service over the last few years
Mobile app Bits says it can boost your credit score for a monthly fee
on May 28, 2020 at 12:08 pm
The app is intended to build up your Experian credit score using a monthly fee closer to a subscription service than a credit card. In fact, it doesn’t even give you a card to buy things.
Credit card crunch continues as interest-free terms hit a record low
on May 28, 2020 at 8:24 am
The number of interest-free credit card deals has fallen to a record low for the second successive month, as banks continue to slash the availability of unsecured debt.
Should I take BA refund in the form of Avios points?
on May 26, 2020 at 9:39 am
The airline said the actual rate of Avios that you get for the price of your flight is roughly double what you would normally get if you bought Avios using cash.
Should you convert Virgin Atlantic air miles into wine?
on May 19, 2020 at 8:56 am
Although Virgin Atlantic looks a little more secure, with the prospect of cancelled holidays for a while to come, some may be wondering if there are alternative uses for their thousands of air miles.
Mastercard faces Supreme Court over £14bn damages claim
on May 13, 2020 at 4:19 pm
Former financial ombudsman Walter Merricks is taking Mastercard to court, claiming unlawful fees it charged shops between 1992 and 2008 resulted in consumers paying more.
Virgin Money u-turns on decision to suspend credit cards
on May 8, 2020 at 3:25 pm
Virgin Money apologised and reversed its decision, saying that everyone who had their card suspended will be able to use them to make purchases again from Saturday 9 May.
Should you take a credit card payment holiday during coronavirus pandemic?
on May 8, 2020 at 7:28 am
While borrowers make no payments for three months, card providers often still charge interest on balances during payment holidays, meaning borrowers continue to rack up interest
Virgin Money customers’ credit cards suspended during lockdown
on May 7, 2020 at 2:16 pm
Customers of Virgin Money rounded on the bank after it suspended their credit cards, despite many of them not struggling with their repayments and clearing their balance in full.
Amex credit card customers given more time to spend for bonus points
on May 1, 2020 at 12:31 pm
Newcomers to American Express now have more time to rack up points bonuses for their credit card spending, with the card provider doubling the length of some of its welcome offers.
Britain’s £69bn credit card debt pile falls year-on-year for the first time ever
on May 1, 2020 at 11:14 am
Households paid back a whopping £3.8bn more than they borrowed in March, the biggest figure on record, as households shunned their credit cards in the face of the coronavirus crisis.
Amex charged me a foreign exchange fee on my holiday refund
on May 1, 2020 at 8:57 am
Banks and credit card providers may levy fees on refunds as well as purchases, meaning a double whammy of charges on trips hit by coronavirus.
240,000 Santander customers ask for credit card and mortgage holidays
on April 29, 2020 at 10:18 am
The UK arm of Santander revealed its pre-tax profit fell 58 per cent to £114million in the first three months of 2020.
Banks hit by 20,000 PPI complaints every day before deadline
on April 27, 2020 at 2:02 pm
The Financial Conduct Authority said many were encouraged by the publicity blitz it launched in the summer of 2019 to warn consumers that they had limited time left to make a complaint.
Who is behind this Snapchat advert offering to write off debt?
on April 24, 2020 at 10:09 am
Next to a picture on social media app Snapchat of Ryan Reynolds teasing news about upcoming superhero film Deadpool 3, is a ‘sponsored’ post with its own teaser: that you can write off debt.
Credit card approvals will fall and interest-free terms will shrink
on April 20, 2020 at 11:51 am
The Bank of England’s latest credit conditions survey revealed lenders believe the availability of household unsecured credit will decrease between April and June amid coronavirus.
Balance transfer mix-up left my £3,500 bill on both credit cards
on April 16, 2020 at 6:37 am
Neil Seagrave, 35, from Dorset, tried to transfer his credit card balance to HSBC at the start of March before his zero-interest term with Sainsbury’s Bank expired, but this was not resolved until April.
Top interest-free credit card deals begin to disappear as providers cut deals
on April 15, 2020 at 1:20 pm
Barclaycard, Sainsbury’s Bank and Tesco Bank have cut interest-free deals over the last month, some of which are the best around, as lenders evaluate their offers amid the coronavirus outbreak.
What will today’s new FCA debt measures mean for you?
on April 9, 2020 at 3:10 pm
The FCA today brought in measures which offer consumers struggling with their finances bigger fee-free overdrafts and the ability to freeze credit and loan repayments for three months.
GEORGE NIXON: Could handing out more debt make our finances even worse?
on April 7, 2020 at 6:38 am
The UK economy is built on spending, often fuelled by debt – credit cards, personal loans, car finance. We don’t want to shrink it, only keep it manageable; and keep the Jenga tower from falling.
What do the FCA credit card and overdraft proposals mean for consumers?
on April 3, 2020 at 6:44 am
The FCA this morning proposed banks should offer customers in financial difficulty an interest-free overdraft up to £500, and let them put credit card and loan repayments on hold for three months.
Avios points: What should I use them on during coronavirus?
on March 31, 2020 at 6:37 am
The Foreign Office has now advised against all overseas travel, it’s likely cancelling holidays is further up people’s priorities than booking new ones – so what can air miles be spent on?
Contactless limit raised to £45 to help cut down on cash usage
on March 24, 2020 at 9:58 am
Payment providers across the UK have upped their contactless payment limits from £30 to £45 in an effort to help customers cut down on cash usage.
Three quarters believe in a credit blacklist…it’s a MYTH!
on March 14, 2020 at 11:45 pm
Many of us know that having a good credit score is key to getting accepted for the cheapest cards, loans and mortgages but many still believe in common credit score myths.
HSBC and Tesco Bank don’t offer credit card soft searching
on March 5, 2020 at 7:43 am
People applying for credit cards with two major UK lenders have to roll the dice to check if they will be accepted, putting their credit score at risk in the process.
A wallet you can WEAR! The gadgets that could transform how you pay
on March 4, 2020 at 11:19 am
The white plastic-looking ‘K ring’ (pictured) – which also comes in black costs £99.99. It is both waterproof and scratch-resistant and can be used to make contactless purchases.
Will you be charged a fee for using credit card to pay back Klarna?
on February 28, 2020 at 9:08 am
Credit card customers of high street bank Halifax have reportedly been hit by charges when trying to make Klarna repayments, the buy now, pay later firm said.
Why did a ‘fee-free’ Klarna purchase of a vacuum cleaner land me with a £2.65 charge?
on February 14, 2020 at 7:43 am
A shopper who used buy now, pay later service Klarna to pay for a £199 vacuum cleaner in three ‘interest-free’ instalments was left confused after he was charged an extra 4.5%.
The instant credit craze that can leave young shoppers with bags of debt
on February 12, 2020 at 11:13 am
Mature student Tamara Gray, 29, (pictured) got into financial difficulties after spending several thousand pounds on the websites Very and Shop Direct on a buy-now, pay-in-12-months basis.
Could buy now pay later and Klarna kill the credit card?
on February 8, 2020 at 9:13 am
Buy now, pay later has become the way for the younger generation to pay. Is it a dangerous form of credit or a useful way for shoppers to pay flexibly?
UCAS says it’ll stop advertising private loans after Future Finance criticism
on February 7, 2020 at 1:34 pm
UCAS will stop sending out emails advertising private student loan provider Future Finance, the student charity announced today, following a backlash over the promotions
More borrowers expected take out loans after overdraft hikes
on February 5, 2020 at 9:12 am
TSB is looking at launching a range of short-term loans aimed at families who regularly dip into their overdraft. TSB customers can currently borrow between £7,500 and £50,000.
FCA: Banks must help customers in debt and not cancel their credit cards
on February 3, 2020 at 1:41 pm
The Financial Conduct Authority has told banks to help customers get out of debt, amid concerns of a potential wave of credit cards being scrapped under new rules.
UCAS still sending out Future Finance adverts five months after backlash
on January 31, 2020 at 2:31 pm
The charity in charge of dealing with higher education applications is still promoting private loan companies to university students, despite criticism of the practice just five months ago.
Banks refusing to unblock credit cards in branches as customers must phone
on January 29, 2020 at 9:08 am
Lloyds, Santander, Nationwide, NatWest, Virgin Money, HSBC and Barclaycard all confirmed staff cannot unblock credit cards in branch.Some banks say it must now be done by a specialist team.
From slimming down debts to boosting Isas: Our wealth workout to give your finances real muscle
on January 28, 2020 at 4:14 pm
The average Briton wastes £640 a year on unwanted subscriptions. Nearly 12million of us have less than £100 in savings. Here is our wealth workout to help you reach peak financial fitness.
Wonga mis-selling victims to find out compensation figures in days
on January 28, 2020 at 2:31 pm
Almost 390,000 people who successfully complained about unaffordable loans from collapsed payday lender Wonga will soon find out their compensation.
Banking with Lloyds for 40 years helped it uncover my £12k PPI payout
on January 28, 2020 at 8:47 am
In an unusual case, four decades of sticking with Lloyds Bank was the main reason behind a Hertfordshire man obtaining a £12,000 mis-sold PPI payout.
New Visa incentive for shops to give cashback to customers
on January 21, 2020 at 10:58 pm
Visa’s scheme marks the first time all the UK’s banks will pay small stores to offer cashback. Beccy Soper (pictured), of Beccy’s Greengrocers in Stockbridge, Hampshire, said: ‘It’s a win-win’.
Can I get 10,000 Amex points without paying the £140 membership fee?
on January 21, 2020 at 11:18 am
I have triggered a 10,000 point bonus for spending £15,000 on the card – but it says I can’t get them until August 2020 and only if I renew. However, I don’t want to pay the £140 annual fee for renewing.
Lloyds Banking Group credit card customers could have cards cancelled in February
on January 21, 2020 at 9:37 am
Britain’s largest banking group, which owns Lloyds, Halifax and Bank of Scotland, spelled out changes aimed at those in ‘persistent debt’ for 36 months.
Hundreds of Saga customers receive surprise payout after platinum credit card mishap
on January 19, 2020 at 10:43 am
Hundreds of customers of Saga have received an unexpected windfall following its admission that it badly handled the axeing of its popular platinum credit card last year.
Virgin Atlantic Reward credit card offering bumper bonus points
on January 17, 2020 at 9:48 am
Frequent fliers after air miles towards their next holiday could take advantage of a new sign up bonus which could get them to three continents, provided they’re happy to pay a fee.
The 0% balance transfer cards which charge no fees when moving debt
on January 16, 2020 at 10:44 am
Those looking to cheaply clear their debts this January could take advantage of 0% balance transfer cards which charge no fees, provided they are happy to pay their balance off quicker.
Can using buy now, pay later hurt my credit score?
on January 14, 2020 at 11:01 am
A large number of buy now, pay later users do not know the full implications of missing payments while a large chunk don’t believe the terms and conditions are clear enough.
Tandem launches 1.5% savings deal – but getting it costs £6 per month
on January 13, 2020 at 8:27 am
Tandem Bank is scrapping its existing, popular, cashback credit card for a membership deal offering a 1.5 per cent savings rate and a credit card that charges no interest, ever. Is it any good?
Lenders hike rates on 21 different credit cards as borrowing soars 40%
on January 8, 2020 at 8:53 am
Britain’s debt binge has deepened – with figures last month showing credit card borrowing had surged by 40 per cent and the average family now owes £12,800 on credit cards, loans and car finance.
Catapillr offers work interest-free loans up to £10k to pay for childcare
on January 7, 2020 at 7:38 am
With nursery costs reaching as much as £12,000 parents are finding it difficult cope. But now a new provider enables employers to give interest-free loans to parents for childcare
Number of 0% credit cards falls in 2020 and terms shorten
on January 6, 2020 at 2:01 pm
There were 122 balance transfer offers in January 2017 compared to 76 today, according to figures from Moneyfacts – while the timeframe to pay back the debt has also shrunk.
Credit card borrowing fell in November for the first time since July 2013
on January 3, 2020 at 12:47 pm
Britons paid back more on their credit cards than they borrowed in November – the first time this has happened in more than six years, according to official figures.
Five expert tips on how to get out of debt in 2020
on January 2, 2020 at 9:11 am
If you are someone who is looking to start the new year by paying off more of their debt, This is Money and its personal finance experts are here to help.
Spent a bit too much for Christmas! Switch cards to clear Xmas debt
on January 1, 2020 at 12:56 pm
Yesterday the Mail reported that nine million people will start the New Year owing between £2,000 and £10,000. A further five million owe more than £10,000.
Equifax put my twin sister’s bad debt on my credit report
on December 24, 2019 at 8:56 am
Laura Heaps, 36, was denied a mortgage after her advisor said she had a default on her credit file. However, rating agency Equifax had mistakenly put her twin sister’s historic debt on her report.
Personal debt mountain in Britain grows £45bn in a decade
on December 17, 2019 at 1:36 pm
Households have £45bn more debt on credit cards, personal loans and overdrafts compared to the start of 2010 – growth of 25% in 10 years, Bank of England data shows.
How to get yourself bonus Avios points this Christmas with HSBC
on December 13, 2019 at 8:42 am
Frequent flyers who fancy adding to their Avios balance have been handed an enticing Christmas bonus by HSBC, though the chances are they don’t know it.
Check you will get balance transfer deal you want before ruining your credit score
on December 11, 2019 at 8:48 am
Asking for too many balance transfer cards can damage your credit rating. Experian has launched a service that lets people enter their details online, including how much debt they want to transfer.
Personal loan rates on borrowing £10,000 hit 10-year low
on December 10, 2019 at 4:18 pm
Britons looking to borrow to fund a new car, home improvements or a big life event like a wedding will now find taking out a substantial sum is the cheapest it’s ever been.
Another buy now, pay later card? Tymit offers Klarna-like instalments
on December 9, 2019 at 7:57 am
The popularity of the likes of Klarna and other firms which let you spread the cost of purchases over instalments means credit card providers are increasingly adopting that model instead.
Tandem Bank scraps 0.5% cashback card and will replace it with a premium option
on December 6, 2019 at 8:19 am
Smartphone bank Tandem is axing its cashback credit card for new customers, and from January those who want to use its successor will have to pay a membership fee.
Buy now, pay later firm Klarna signed up 60,000 new merchants in 2019
on November 27, 2019 at 2:54 pm
Buy now, pay later juggernaut Klarna announced it has signed up over 60,000 retailers so far in 2019, including Microsoft and travel agent Expedia, as it prepares for a bumper Black Friday.
Amex launches new credit card with Vitality offering 3% cashback back to stay active
on November 26, 2019 at 11:07 am
American Express and Vitality have launched a new cashback credit card with a difference. The more exercise you do, the more you earn – up to an eye-catching 3 per cent. But is it any good?
Gold payment app Glint out of administration after £5.7m fundraise
on November 23, 2019 at 9:07 am
An app-based card provider which allowed users to pay with gold has been rescued from administration, having fought off a hostile takeover bid from one of its own creditors.
Cash in on Black Friday – by using free credit
on November 17, 2019 at 1:26 am
Love it or loathe it, Black Friday weekend is looming. This is when retailers are expected to shower shoppers with juicy discounts for a few days only.
True cost of those zero % credit cards: Banks hike rates in time for Christmas
on November 13, 2019 at 9:24 am
Shoppers now pay an average of 25.1 per cent on credit card purchase. It means that a customer who borrowed £3,000 and paid off £100 a month would pay £1,463 in interest overall.
Five top tips when checking your credit report for the first time
on November 12, 2019 at 9:02 am
Have you ever checked your credit report? If the answer is no, the likelihood is: someone else has. We reveal five top tips for those who have never cast an eye on their financial CV.
M&S takes on Klarna by introducing its own payment installation service
on October 30, 2019 at 3:03 am
M&S.com has partnered with Clearpay on the new service with the payment option due to be available to all UK M&S.com customers from mid-November.
How much gold is really in your £18,750 18 carat Raris debit card?
on October 25, 2019 at 8:41 am
The Royal Mint announced it has teamed up with card providers Mastercard and Accomplish Financial to create ‘Raris’, aimed at high net worth individuals after something exclusive.
Is Britain’s biggest payday lender QuickQuid on the verge of administration?
on October 24, 2019 at 2:41 pm
Britain’s biggest payday loan collapse since Wonga could be on the cards as QuickQuid is on the verge of going into administration, according to reports.
Isle of Wight ferry U-turn on 70p extra cash fee to drive to Ryde Pier
on October 15, 2019 at 7:45 am
Ferry passengers incur the charge if they want to be dropped off or picked up by car, or park for the ferry at the end of the half-mile pier.
Unfair Cifas marker froze my bank account over a phone upgrade I asked for
on October 11, 2019 at 4:25 pm
Dave Parr, 38, rang up Three in June to ask for a phone upgrade. Because he asked for a different delivery address, they thought it was fraud and when they couldn’t contact him filed a fraud marker.
Millions of credit card users are on course for rate trap as they fail to move provider
on September 29, 2019 at 9:04 am
New research reveals that nearly half of all UK credit card holders -around 17million people nationwide – have never switched their card.
Glint app that lets customers pay with gold goes into administration
on September 24, 2019 at 2:50 pm
For five days after it went into administration the company did not mention the matter on its website. Glint says its app still works as normal and users could still deposit money into it.
Credit card interest rates reach a 13-year high of 24.7% APR
on September 18, 2019 at 9:51 am
Data from Moneyfacts found that in September the average credit card purchase APR rose to 24.7 per cent, an all-time high since its records began in June 2006.
Credit card charges rocket to an all-time high of 24.7%… But savers still earn ultra-low returns
on September 18, 2019 at 9:10 am
Average card rates have surged since the financial crisis, climbing from 16 per cent in 2006. But at the same time, typical savings rates dropped sharply to all-time lows and barely recovered since.
Five credit ratings myths busted: We reveal the true cost of a poor credit score
on September 13, 2019 at 6:44 am
Paying a £3,000 credit card bill over two years could cost £1,979 more in interest to an appliccant with a bad credit rating, according to data from TotallyMoney and Moneycomms.
How your everyday credit card spending could help pay for your next holiday
on September 11, 2019 at 8:18 am
Many credit cards offer reward points that can be exchanged for air miles. If you can pay off the balance every month, these cards are a good place to start racking up air miles.
PPI final countdown: Just over 24 hours left until August 29 deadline
on August 28, 2019 at 8:00 am
The final deadline for making a complaint about payment protection insurance (PPI) is midnight tomorrow (August 29).
Credit card deals worsen amid regulator clamp down on UK households’ spiralling debts
on August 25, 2019 at 9:13 am
Periods of free borrowing on best-buy balance transfer cards have shortened by nearly 20 per cent in a year, according to figures compiled by data company Moneyfacts.
Future Finance offers loans to students that could leave you paying back double
on August 24, 2019 at 7:59 am
Future Finance does recommend students go through Student Finance first, but the cost of repayments should be a red flag for any students considering this option.
Family business owner gives staff a bonus after winning a £247,000 Lloyds PPI payout
on August 7, 2019 at 9:24 am
Mike Weaver, 61, took out several payment protection insurance policies when he set up his radio hiring business in 1991. He recalls being told that he had to buy PPI to get the loans he needed.
How to make a PPI claim with just one month left until the deadline
on July 31, 2019 at 1:00 pm
Households have just one month left to make a PPI claim with their bank or credit provider. And with the clock ticking, PPI sharks have ramped up their campaign to get a chunk of your money.
Would you microchip yourself to speed up paying with contactless? 11% of Londoners would
on July 27, 2019 at 8:07 pm
While it sounds like something out of Blade Runner, a survey found some would take drastic steps to reduce the time it took to pay for their coffee.
Virgin Money agreed to refund some credit cardholders but wouldn’t give me back my £200
on July 26, 2019 at 7:51 am
A long-standing Virgin credit cardholder has accused Virgin Money of ‘purposely misleading people for financial gain’ after it refused to refund interest charges he incurred on his account.
StepChange find 1 in 3 holders of high interest subprime credit cards are in problem debt
on July 11, 2019 at 7:52 am
As many as one in three people who hold subprime credit cards with interest rates as high as 70% are in problem debt, according to a new report released by the debt charity StepChange.
NatWest announces new mobile-only way to make credit card purchases
on June 24, 2019 at 7:10 am
Customers looking to make big purchases with a NatWest credit card will be able to pay a set monthly fee rather than their card’s APR, under a new mobile-only offer announced by the bank.
My local The Money Shop has closed, can I get my pawned items back?
on June 21, 2019 at 11:48 am
Those who have pawned off items and want to get them back may feel anxious following the news, but according to the company’s website you can still do so.
Which credit cards are best for beginners looking to boost their score?
on June 21, 2019 at 7:22 am
While bumping your credit card spending when saving for a house might not seem like the brightest idea, you could be doing your chances of getting a mortgage more harm than good by avoiding plastic.
Number of people with problem guarantor loan debt doubles in two years
on June 17, 2019 at 3:57 pm
A record number of people are heading to debt charities with help over guarantor loans – including Emma, pictured, who paid back £23k after borrowing £10k from Amigo Loans.
Watchdog announces new rules on ‘buy now, pay later’ products that will save users as much as £60m
on June 12, 2019 at 1:05 pm
‘Buy now, pay later’ firms will be banned from charging backdated interest on already repaid amounts of money from November, under new rules announced by the financial regulator
People living in the South East have the highest average credit rating
on June 12, 2019 at 9:15 am
Britons’ credit scores have improved on average across the country, but no region can boast more than just a ‘fair’ rating, a new report has revealed.
MasterCard’s Mark Barnett on working with Monzo, paying by app, and why there should always be cash
on June 10, 2019 at 9:49 am
If the future of the UK increasingly looks cashless, then no one may be better placed to reap the rewards than MasterCard
LiveLend’s ‘Reward Loan’ cuts your rate as you boost your credit score
on June 4, 2019 at 6:31 am
A personal loan provider is offering customers the chance to lower their APR, if they improve their credit rating while holding the product.
Is HSBC’s new cashback Rewards Credit Card worth taking?
on May 23, 2019 at 8:33 am
HSBC’s Reward Credit Card is available to Advance current account holders, and pays you reward points on all your purchases. We see how it stacks up against the best of its rivals.
American Express customers face higher Platinum Card fees from June
on May 21, 2019 at 11:11 am
From June 11, Amex’s card will be made from metal rather than plastic, and cost £575 a year compared to £450 now.
NatWest re-enters 0% balance transfer market after 5 year absence
on May 21, 2019 at 8:58 am
High street giant NatWest denied it was reneging on a five year old pledge to no longer offer 0 per cent balance transfer credit cards to customers, as it announced today it was re-entering the market
You CAN beat the credit card crunch: We’ve investigated almost 150 of the best deals
on May 8, 2019 at 9:03 am
If used smartly, credit cards can still be an effective spending tool and even earn you money. Shoppers now have around 166 different deals to choose from.
Act now if you were mis-sold PPI as final deadline for submitting a claim nears
on May 7, 2019 at 11:44 am
If you believe you had loans or credit agreements such as an account with a catalogue company or a long-forgotten credit card – you could be eligible to make a claim for mis-sold PPI.
Amazon and American Express slash credit card reward bonuses for joiners and spenders
on May 2, 2019 at 7:35 am
Amazon and American Express have slashed the sign-up bonuses and spending incentives on some of their cards.
Pay later fintech Klarna added 25,000 new UK users a week by the end of 2018
on May 1, 2019 at 12:20 pm
Swedish fintech Klarna attracted 25,000 new UK users each week in the last three months of last year, as it celebrated a bumper 2018 that saw global revenue increase 31% to £445m.
Shopping at your fingertips: We test the UK’s first biometric bank card
on May 1, 2019 at 8:29 am
Contactless technology already allows shoppers to spend up to £30 without having to enter their Pin. But, with NatWest’s new card, there will be no need to enter a Pin at all.
Mastercard and Visa agree deal with the EU to slash foreign card fees by 40%
on April 29, 2019 at 4:48 pm
The European Commission says that interchange fees, where the merchant’s bank pays a charge to the cardholder’s bank, result in higher prices for consumers.
Britain’s contactless capital revealed: London doesn’t top the list
on April 16, 2019 at 2:47 pm
It is Bristol where the highest proportion of card payments are swiped, with 73 per cent of 11.5million card transactions in the West Country city using contactless.
Watchdog set for crackdown as it emerges Amigo ramped up risky lending before flotation
on April 16, 2019 at 7:48 am
Regulators at the Financial Conduct Authority are taking aim at the industry, which allows hard-up consumers to borrow money provided a friend or family member agrees to pay it back if they default.
Mastercard bans conversion con on its prepaid cards
on April 14, 2019 at 10:57 am
Tourists are routinely offered a chance to pay in their ‘home’ currency at restaurants, shops or hotels abroad in a process called ‘dynamic currency conversion’.
MPs call for better regulation of the bailiff industry to better protect vulnerable people
on April 11, 2019 at 8:59 am
The Government should introduce new regulation for the bailiff industry ‘to stop unfit enforcement agents and companies from practising’, MPs have said.
Mastercard is putting an end to rip-off currency exchange fees for prepaid cardholders
on April 9, 2019 at 10:20 am
Effective from Friday, Mastercard will stop prepaid travel card holders from paying in pounds in a bid to crack down on travellers paying high currency exchange rates.
More than two-thirds would have second thoughts about dating someone in debt
on April 9, 2019 at 9:18 am
Nearly three quarters of women said they’d think twice about someone if they debts, compared to 69 per cent of men, according to research from comparison website Finder.
Betting on the Grand National using a credit card could cost gamblers almost £16m
on April 6, 2019 at 8:25 am
Those thinking of putting money on the 5.15 at Aintree on Saturday could be making a mistake far costlier than backing the wrong horse – using a credit card to bet.
How eWallet payments are surging and could displace cash
on April 5, 2019 at 8:26 am
Data shows that 5% of all point of sale transactions in 2017 in Britain were made using a mobile wallet. How does that compare to other nations around the world?
Hastee Pay and Creditspring: two companies trying to solve Britain’s high-cost credit crisis
on April 1, 2019 at 3:04 pm
Households are increasingly saving less and getting into more debt and a payday loan crackdown hasn’t solved the problem. This is Money rounds up some of the start-ups trying to help
The disappearing 0% deals: Borrowers urged to act quickly to reduce the cost of credit card debt
on March 27, 2019 at 9:23 am
Two years ago, top balance transfer credit cards offered customers 43 months to clear their debt without paying interest. The longest deal today lasts just 29 months.
Will Apple and Amazon launch rival credit cards in Britain?
on March 26, 2019 at 2:27 pm
At the launch event in Cupertino, California, the iPhone maker debuted a white titanium card with no number, security code, expiry date or name, only the Apple logo. Could it launch in Britain too?
Best 0% balance transfer deal falls to shortest length for 5 years
on March 23, 2019 at 8:56 am
The longest 0% balance transfer deal has been slashed below 30 months for the first time in more than five years, prompting further concerns that owners of such cards could end up in trouble.
Credit card holders paid £219m in fees for withdrawing cash last year
on March 21, 2019 at 9:07 am
UK credit cardholders paid the price for withdrawing money using their credit cards last year, being stung with £219million in fees and charges.
Tandem launches new best buy overseas spending credit card
on October 15, 2018 at 7:04 am
Challenger bank, Tandem has launched a new best-buy credit card offering those without a perfect credit rating free holiday spending and cash withdrawals. We take a look.
Is the Starling Bank personal loan any good?
on September 3, 2018 at 8:01 am
Starling Bank is offering its current account customers personal loans of up to £5,000 from 11 per cent APR. We give our verdict on whether they are worth considering.
How cashback from websites can earn you money when you shop
on May 25, 2018 at 4:22 pm
All you need to do is make a few simple changes to the way that you spend your money and you’ll have found yourself a brand new source of income.
Can I get a mortgage to move house if I have credit defaults?
on April 28, 2018 at 12:08 am
I have £40,000 of unsecured debts – £20,000 on two credit card defaults – but having never missed a mortgage payment in 12 years, is it possible to obtain a mortgage?
How to perfect your credit score to get the best mortgage
on March 28, 2018 at 9:17 am
Banks reserve their best lending deals for those borrowers with the highest credit scores. To give yourself the best chance of getting a top rate, make some time to tidy up your credit file.
Tuesday, November 24, 2020