Credit Card And Related News For September, 2007

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

Credit Card Users Feel The Squeeze  [29.09.07]
The signs of a crackdown on consumer credit are beginning to show, as half a million credit card holders have had their spending limits cut. The limits have been reviewed for many of Barclaycard’s customers, and the company is also rejecting more applications for new cards than it used to.
Tap-and-go Debit Cards  [28.09.07]
The new tap-and-go type of debit card is destined to become increasingly popular with consumers, doing away with the need for pockets weighed down by small change. It looks like a good thing, but there are concerns for security and peoples’ use of the cards. The new cards work by
Many Brits worried about debt levels  [27.09.07]
According to the results of a recent survey many Brits are very worried about their debt levels, reflecting the debt crisis that has been growing in Britain for some time. According to the research carried out by Moneyexpert, nearly 2.5 million consumers in Britain are very worried about their debt
Greenspan Forecasts Problems For the UK  [27.09.07]
Alan Greenspan, the former head of the US Federal Reserve, is forecasting a bleak few years for the UK housing market. As a result of rising interest rates and the credit crunch, the housing market in this country is heading for a painful correction. The warning followed hard on the
Should minimum credit card age be raised?  [25.09.07]
Over recent years the debt mountain in the UK has been growing, and many people have found themselves in huge levels of debt, much of which has been attributed to credit card debt. According to a debt management group in the UK the 18-20 age groups is now seeing increasing
Abbey offers 5% cash back on card  [20.09.07]
The Abbey has launched a challenge to the other major high street banks in the UK by offering a massive 5% cash back on its credit card for the first £1000 spent in any major UK supermarket. Cash back credit cards have become very popular in the UK over recent
£1.5 billion withdrawn from Northern Rock  [20.09.07]
Following the recent reports relating to Northern Rock having to ask the Bank of England for a loan of £30 billion customers have been flocking to their local branches in order to withdraw their savings amidst fears that the bank could be going under. Despite assurances from both the bank
A fifth of Brits are saveaholics  [19.09.07]
According to a recent report around a fifth of Brits have admitted to being saveaholics, and are perfectly happy to make any necessary sacrifices in order to try and put some extra money aside in savings. Despite rising interest rates and inflation, which has reduce the amount that many people
Consumers should close credit card accounts after consolidation  [19.09.07]
Every year many people in the UK decide to take out a consolidation loan in order to try and repay smaller debts with high interest rates, such as credit cards and store cards, which are well known for the extortionate rates of interest often charged as well as the length
Business Credit Cards  [18.09.07]
Business credit cards can be a better alternative to petty cash and cheque books used in businesses. Business credit cards enable you to see where money is being spent in the business, whether you are self-employed or a large business owner. They can also reduce company expenditure and administration. As
Be careful when using your credit card to check in at hotel  [17.09.07]
A recent report has highlighted how consumers need to be careful when using their credit cards to check into hotels, as even if the card is not being used to settle the hotel bill. For instance, if you plan to use cash to pay for the room and any extras
Many consumers still unaware of order of repayments on credit cards  [17.09.07]
According to recent reports many consumers in the UK are still unaware of how repayments are allocated on their credit card balances, despite recent controversy over this issue. Campaign groups recently highlighted how credit card companies were applying repayments to the cheapest balances, such as balances accrued in an interest
Credit Crunch To Affect Ordinary Borrowers  [14.09.07]
The global credit crunch looks set to have an impact on the ordinary man or woman on the UK street. According to experts, borrowers will face more stringent checks on their finances when applying for credit cards, loans and mortgages, and they are likely to face higher interest rates too,
Credit Card Companies Recoup Their Lost Charges  [13.09.07]
Credit card companies are finding new ways to charge their customers to make sure their profits remain high following last year’s restriction on penalty charges. The Office of Fair Trading’s (OFT) ruling that credit card providers could only charge a maximum of £12 as a penalty hit the providers, many
Consumers spreading their credit card repayments  [13.09.07]
A recent report has shown that consumers in the UK are continuing to rely heavily on credit cards, and many are spreading repayments on their balance so that they can avoid financial struggles and having to make major cutbacks. The recent series of interest rate rises – five rises of
Credit Cards, Identity Theft & Security  [11.09.07]
Identity theft is the fastest growing global crime. ID thieves steal a person’s name or personal details and use them for their own gain. This could be using a stolen credit card, or opening new accounts with no intention of paying the money back, or by creating a fake copy