‘Credit Cards’ News
Brits ditch cash for cards
Posted 2008-03-30
British consumers are increasingly relying on credit and debit cards for everyday purchases rather than carrying around cash, new research has suggested. One third of us now carry less that £10 in cash on our person every day and almost half (47 per cent) use a cash machine just once a week or less. ...
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Brits warned about overseas plastic fees
Posted 2008-03-24
British consumers who are planning to head abroad are being urged to check the terms and conditions on their debit and credit cards before they leave the country. Comparison firm uSwitch has noted that nine banks now levy an average charge of £1.19 for every debit card purchase originating from outside the UK - totalling some £318 million. ...
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Credit cards retain popularity
Posted 2008-03-18
Credit cards remain an "extremely popular" form of borrowing despite growth rates having slowed over the past year, one leading debt charity has claimed. Chris Tapp, director of Credit Action, acknowledged that spending on credit cards has levelled off over the past 12 months - but he said the reasons for this downtick were less than reassuring. ...
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Credit card market ‘tightening up’
Posted 2008-03-17
British consumers are finding it increasingly difficult to secure credit cards with low interest rates because of the credit crunch, it has been claimed. UK debt charity Credit Action said that many people are struggling to have any kind of credit card application approved as a direct consequence of the ingoing turmoil in global financial markets. ...
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Credit card fraud reaches record level
Posted 2008-03-12
Last year saw a record 25 per cent surge in debit and credit card fraud, new figures published today by the Association of Payment Clearing Services (Apacs) have revealed. Fraudsters siphoned off £535.2 million worth of illegal transactions throughout 2007, the new data reveals, even as experts claimed the chip & pin security regime has made our money safer than ever before. ...
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Credit card fraud reaches record level
Posted 2008-03-12
Last year saw a record 25 per cent surge in debit and credit card fraud, new figures published today by the Association of Payment Clearing Services (Apacs) have revealed. Fraudsters siphoned off £535.2 million worth of illegal transactions throughout 2007, the new data reveals, even as experts claimed the chip & pin security regime has made our money safer than ever before. ...
Read Credit card fraud reaches record level
Holidaymakers warned on credit card charges
Posted 2008-03-11
People in the UK thinking about heading on holiday are being urged to consider which credit card or debit card they plan to take to minimise charges. According to Moneysupermarket, four million people taking an Easter break could end up paying more than £180 million in fees and charges if they dont carefully research their credit card. ...
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‘No extra burden of proof’ for overseas card losses
Posted 2008-03-6
Credit card users who have a legitimate claim against an overseas supplier should face a minimum amount of obstruction to claiming back their money, it has been claimed. Apacs, the UK trade association, said that as long as a transaction appears on an individuals statement then the credit card company should have adequate records and there should be little difficulty in retrieving lost funds. ...
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Balance transfer deals ‘disappear’
Posted 2008-03-5
The number of firms offering zero per cent balance transfer deals has been scaled back dramatically, new research has suggested. Whereas some 200 deals lasting at least ten months were on the market this time last year, that figure has now dropped to a mere 24 - with the credit crunch widely being blamed for their decline. ...
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Credit card addicts urged to seek help
Posted 2008-03-3
People who are overly dependent on using their credit cards should seek the help of a debt specialist, Credit Action has advised. The debt charity noted that the current financial crisis leaves consumers particularly at risk of financial ruin and said people who develop a reliance on paying with plastic need to face up to their demons. ...