Credit Card And Related News For March 2007 -

Welcome to the latest news concerning UK credit cards and other related topics for the month of March 2007

• Consumers fight back against fees for inactive credit card accounts [25.03.07]
  Over recent weeks a number of credit card companies and issuers have been announcing that they will be charging fees to customers that hold credit cards but do not use them.
• Egg's reliable credit card customer being penalised [24.03.07]
  Financial giant Egg has disappointed many of its reliable credit card customers that have never missed any repayments on their credit card balances, by announcing that they will have to pay a far higher rate of interest on their borrowing because their risk rating has changed.
• UK Consumers Spark Inquiry Into 'Hidden' Credit Card Fees [23.03.07]
  A UK consumer watchdog is to investigate the handling fees charged when switching to interest-free credit cards. Whilst UK consumers are charged these fees it has emerged that the same UK-based banks are waiving the same fees for overseas consumers.
• Credit Card Cash Withdrawal Costs Rise [21.03.07]
  According to recent research, many UK credit card holders are actually unaware of the true cost of withdrawing cash from ATM's with their credit card. Many don't realise that the APR charged for cash withdrawals has risen significantly, making it more expensive to lift cash on credit cards.
• Major banks putting consumers at risk of identity fraud [20.03.07]
  A number of major UK banks have been accused of putting customers at increased risk of becoming victims of identity fraud, after they were found to have dumped account details for thousands of their customers outside branches.
• Fraudulent activity with British credit cards abroad almost doubled [19.03.07]
  According to recent data, chip and pin technology has resulted in a drop in credit card fraud in the UK over the last year, with general credit card fraud reportedly dropping by 5% according to APACS
• New Barclaycard boss wants shut of sub-prime customers [17.03.07]
  For the first time the number of people in the UK seeking insolvency in 2006 broke the one hundred thousand barrier, illustrating the high consumer debt level problems that have emerged, with nearly one and a half trillion pounds worth of consumer debt in total
• Credit card companies coming down hard on missed repayments [16.03.07]
  With many people struggling to keep up with repayments on their credit card debt, coupled with today's fast pace of life, many consumers in the UK have been caught out when it comes to missing a credit card repayment.
• Lloyds charging for staying out of debt [15.03.07]
  With credit card related consumer debt at sky high levels, and many people struggling to repay the balances on their cards thus ending up with mountains of debt, it seems that credit card holders just cannot win at the moment.
• Arrangement Fees – A new underhand move by UK banks [14.03.07]
  As the consumer war against banks that have been charging extortionate penalty fees rages on, it seems that a number of banks in the UK are trying yet another trick in order to try and get off the hook.
• Many struggling with loans and credit cards too embarrassed to get help [13.03.07]
  According to new research many people that are suffering financially due to their high level of debt are too embarrassed to seek advice, putting them in an even worse position and often resulting in serious action being taken against them – action that could have been avoided with the right financial advice and assistance.
• UK opting for secured finance over credit cards [11.03.07]
  According to recent figures more and more people in the UK are looking to borrow money in the form of secured finance rather than borrowing on credit cards.
• Banks reported to watchdog over misleading consumers [09.03.07]
  According to recent reports two major UK banks have been reported to city watchdogs by the Financial Ombudsman Service for treating customers unfairly over bank charge complaints, as well as for misleading customers through information – or lack of information – provided.
• UK consumers showing generosity via credit cards [06.03.07]
  Recent figures relating to credit card expenditure indicates that the Brits are a generous lot, with many using their credit cards to make donations to various causes or charities.
• Chip and Pin not working for many disabled people [05.03.07]
  The results of new research that has been carried out by a disability charity has indicated that over fifty percent of disabled people have experienced difficulties with chip and pin technology.
• Consumer group calls for tighter regulations to reduce online credit card fraud [03.03.07]
  The consumer watchdog group has called for stricter banking regulations in order to try and reduce the level of online credit card fraud that has been affecting consumers in the UK.
• High earners could be even better off with the right credit card [03.03.07]
  For the average consumer in the UK the most notable perks of a credit card are convenience, flexibility, and rewards such as cash back, rewards points, or special interest rates.
• Brummies at higher risk of credit card fraud [02.03.07]
  Credit card fraud is something that has caused great concern over the whole of the UK over recent years, but according to a recent survey those living in Birmingham in the West Midlands are at increased risk of becoming victims of credit card fraud than in other parts of the country.
• UK Consumers Shun Credit Card Deals [01.03.07]
  New research by the British Bankers Association (BBA) has revealed that UK consumers are shunning lucrative credit card deals, opting to curb their spending and reduce personal debt.