http://www.uswitch.com/Directory/Press-Room/Press-Room.aspxThe latest industry news from the UK for utilities, telecoms, broadband and personal finance.60en-GBhttp://www.uswitch.com/images/rss_logo.jpghttp://www.uswitch.com?ref=rssprCorporate PagesLoansEnergyHome PhoneDigital T VCredit CardsBroadbandWaterDirectoryMarket NewsHeating CoverCurrent AccountsCar InsuranceMobilesConsumer GuideSecured LoansCustomer AccountsBundlesMortgagesDebt Advice CentreLife InsuranceHome InsuranceTravel InsuranceCredit Report CentreSavingsBusiness EnergyMobile BroadbandSite RootMoney SavingAs the Governments spotlight shines on the UK’s credit card market in today’s white paper, new research from uSwitch.com reveals that 5.7 million[1] consumers have seen their credit limit increased by an average of £1,538 in the past 12 months without their consent. In total, these consumers have received an additional £8.8 billion[1] of credit. If these consumers max out their new credit limit, they could now face an annual interest bill of £1040[7] each or £5.9 billion[7] in total. 3% of people received an even bigger shock when their credit limit was slashed without their permission. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=CREDIT-CARD-PROVIDERS-THROW-8.8-BILLION%5b1%5d-OF-UNREQUESTED-CREDIT-AT-CONSUMERSS90Ae0.Globali+1aAion.DaAeTi0eor0aAIn0oNewsuSwitch.com“Sending out unsolicited credit card cheques has long since been an act of complete irresponsibility on the part of providers, and finally we have less talk and more action in bringing about an end to this practice. For many consumers, using these cheques has been the first step on the road to a downward debt spiral. Last year alone, more than 14.1 million[1] UK consumers were sent more than 280 million[2] credit card cheques - 97%[1] of which were unsolicited. 3.2 million[3] of these cheques were used by consumers spending a staggering £3.6 billion[3]. In total, providers a pocketed a staggering £571 million[2] in handling fees and interest.http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=Ban-on-credit-card-chequesS90Ae0.Globali+1aAion.DaAeTi0eor0aAIn0oNewsuSwitch.comNobody likes household bills, but new research shows consumers have good reason to dread utility bills more than others. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=BAFFLING-UTILITY-BILLS-LEAVE-CONSUMERS-CONFUSED%2c-BEMUSED-AND-DEFINTELY-NOT-AMUSEDS90Ae0.Globali+1aAion.DaAeTi0eor0aAIn0oNewsuSwitch.com The latest credit card market analysis from uSwitch.com, the independent price comparison and switching service, reveals that almost 2 million[1] consumers have been rejected for balance transfer deals in the last year. This represents 57% of all credit card rejections, forcing these consumers to fork out £535 million[4] in interest payments in the next 12 months as they are unable to switch to a new provider. In total, £3.5[2] billion of credit card debt is now stuck on interest bearing credit cards as consumers cannot switch to their next 0% deal. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=RATE-TARTS-ARE-IN-A-JAM-AS-2-MILLION%5b1%5d-BALANCE-TRANSFER-APPLICATIONS-ARE-REJECTEDS90Ae0.Globali+1aAion.DaAeTi0eor0aAIn0oNewsuSwitch.comHousehold energy bills could reach as high as £4,733 a year by 2020, nearly four times higher than they are today, according to new research from uSwitch.com. The average household energy bill today is £1,243 a year. However, ongoing pricing trends coupled with investment in infrastructure, the cost of cutting carbon and boosting energy efficiency, could see this spiral. The additional cost of investment alone is expected to add £548 a year onto consumers’ energy bills: http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=HOUSEHOLD-ENERGY-BILLS-TO-HIT-ALMOST-5K-IN-10-YEARS-TIMES90Ae0.Globali+1aAion.DaAeTi0eor0aAIn0oNewsuSwitch.comAs the UK’s government comes under increased scrutiny in the ongoing expenses scandal, it seems this type of activity is also an issue outside of the Commons. New research from uSwitch.com reveals that UK employees make an additional £503 million[2] every year on expenses just by ‘exaggerating’ claims or being economical with the truth. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=2.7-MILLION%5b1%5d-UK-WORKERS-MAKE-HALF-A-BILLION-EACH-YEAR-BY-TWEAKING-EXPENSESS90Ae0.Globali+1aAion.DaAeTi0eor0aAIn0oNewsuSwitch.comNew figures due to be released by the SMMT tomorrow are expected to reveal the extent to which the government’s car scrappage scheme has provided a much-needed boost to the ailing car industry since its introduction last month. However, with all eyes firmly focussed on signs of potential recovery in the car industry, stealthy car insurance providers are cashing-in by penalising motorists with disproportionate mid-term adjustment fees, levied for any changes to a policy as a result of a motorist swapping their vehicle. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=SCRAPPERS-SCUPPERED-BY-MID-TERM-ADJUSTMENT-FEESS90Ae0.Globali+1aAion.DaAeTi0eor0aAIn0oNewsuSwitch.comAs 177,500[1] music revellers head for the Glastonbury festival on Friday 26th June, new research from uSwitch.com reveals that 62%[3] of car insurance providers will offer as little as £100 cover for all valuables left in the car. With 128,000[2] (72%) people travelling to the festival by car, this research shows that almost £8 million[4] worth of items will be stored in these vehicles as a safer alternative to the tent. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=DON%e2%80%99T-RELY-ON-CAR-INSURANCE-TO-PROTECT-VALUABLES-AT-GLASTONBURYS90Ae0.Globali+1aAion.DaAeTi0eor0aAIn0oNewsuSwitch.comNew research from uSwitch.com reveals that only half (52%) of Britain’s broadband users are happy with the speed of their service. While most providers advertise standard speeds of up to 8Mb, according to users the average speed they are actually getting is almost half that at 4.2Mb. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=BRITISH-BROADBAND-IN-THE-SLOW-LANE-ONLY-52-OF-USERS-ARE-HAPPY-WITH-BROADBAND-SPEEDS90Ae0.Globali+1aAion.DaAeTi0eor0aAIn0oNewsuSwitch.comRumina Hassam, personal finance expert at uSwitch.com, comments on Santander’s celebratory offer to mark the rebranding of Abbey credit cards.http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=Santander-credit-card-offerS90Ae0.Globali+1aAion.DaAeTi0eor0aAIn0oNewsuSwitch.comThe Environment, Food and Rural Affairs Select Committee Announcement today acknowledges the imminent failure of the Government to end fuel poverty in this country and urges it to take decisive action now. uSwitch.com comments on the announcement and the proposals being put forward to help the 5.2 million households now estimated to be living in fuel poverty.http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=FUEL-POVERTY-WILL-THE-GOVERNMENT-FINALLY-GET-A-GRIPS90Ae0.Globali+1aAion.DaAeTi0eor0aAIn0oNewsuSwitch.comPrice increases of 42% or £381 in 2008 sent British consumers scrambling to secure a fixed or capped price energy deal. But with millions of customers due to come to the end of their fixed deal between now and the end of the year, uSwitch.com warns that people should be extra vigilant to prevent their energy costs rocketing.http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=END-OF-FIXED-PRICE-DEALS-COULD-CAUSE-100-ENERGY-COST-SHOCKS90Ae0.Globali+1aAion.DaAeTi0eor0aAIn0oNewsuSwitch.comuSwitch.com is warning commuters to let their car insurance company know if they are driving to work instead of getting the tube. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=Car-insurance-warning-for-commuters-desperate-to-beat-the-tube-strikeS90Ae0.Globali+1aAion.DaAeTi0eor0aAIn0oNewsuSwitch.comNew research from uSwitch.com reveals that 1 million UK motorists are opting for a reduced third party level of cover in a desperate bid to keep their vehicles on the road in the current economic climate. One in five (20%)[1] third party policy holders, admitted that they are now unable to foot the bill for a fully comprehensive level of cover, and a further 6%[2] (304,000 drivers) have recently downgraded from this more sophisticated level of insurance to save money on the cost of running their car. In addition, 3%[2] (152,000) of these motorists no longer even bother to compare fully comprehensive quotes and instead opt for a downgraded level of cover straightaway. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=ONE-MILLION%5b1%5d-MOTORISTS-FORCED-TO-OPT-FOR-LOWER-LEVEL-COVERS90Ae0.Globali+1aAion.DaAeTi0eor0aAIn0oNewsuSwitch.comNew research from uSwitch.com reveals that under 21’s opting for ‘go-fast’ extras such as spoilers, tinted windows and exhaust system changes can add up to £6,225[1] to the cost of insurance. In addition, opting for the ‘sporty’ version of the most popular cars adds an average of £3,400[2] to what are already pricey policies.http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=YOUNG-DRIVERS-COULD-SPOILER-THEIR-INSURANCES90Ae0.Globali+1aAion.DaAeTi0eor0aAIn0oNewsuSwitch.comThe BBC’s investigation into broadband speeds in UK homes paints a worrying picture considering the Government has promised to provide all homes in the UK with speeds of at least 2Mbps by 2012. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=Jason-Glynn%2c-communications-expert-at-uSwitch.com%2c-comments-on-the-BBC%e2%80%99s-broadband-speeds-reportS90Ae0.Globali+1aAion.DaAeTi0eor0aAIn0oNewsuSwitch.comBritish motorists hopping in their car and heading overseas in search of the sun could be driving into a heap of trouble, according to new research from uSwitch.com. While most will remember their toothbrush, many will forget to contact their insurer to ensure that they are fully protected by their car insurance when driving abroad. Although most providers have extended the number of free days overseas cover they offer, there are still some loopholes that could trip up unsuspecting drivers and leave them saddled with an expensive unpaid claim. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=CAR-INSURANCE-SMALL-PRINT-COULD-LEAVE-HOLIDAYING-MOTORISTS-DRIVING-INTO-TROUBLES90Ae0.Globali+1aAion.DaAeTi0eor0aAIn0oNewsuSwitch.comLouise Bond, personal finance expert at uSwitch.com, comments on the launch of the Tesco Clubcard Credit Card offering 0% on purchases for 12 months and 0% for 6 months on balance transfers. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=Launch-of-Tesco-Clubcard-Credit-CardS90Ae0.Globali+1aAion.DaAeTi0eor0aAIn0oNewsuSwitch.comNew research from uSwitch.com, the independent price comparison and switching service, has revealed that vehicle depreciation is set to be the ‘thorn in the side’ of the Government’s new car scrappage scheme. In fact, the £2,000 incentive will be wiped out in depreciation within just 88 days of purchasing a new vehicle. With 1.5 million[1] motorists tempted to cash in on the scheme, these consumers are set to lose a total of £12.5 billion[2] in just one year. http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=CAR-DEPRECIATION-LOSS-BURSTS-%e2%80%9cCASH-FOR-BANGERS%e2%80%9d-BUBBLES90Ae0.Globali+1aAion.DaAeTi0eor0aAIn0oNewsuSwitch.comNew research reveals that households who are sticking loyally with their regional electricity supplier are paying up to 33% or £111 a year more for their electricity as a result[1]. According to uSwitch.com this ‘loyalty tax’, which averages out at 15% or £58[1], potentially adds £681 million in total to customers’ bills[2]. But it is also entirely avoidable:http://www.uswitch.com/Press-Room/Index.aspx?downloadfile=HOUSEHOLDS-PAYING-UP-TO-33-OR-111-A-YEAR-%e2%80%98LOYALTY-TAX%e2%80%99-TO-LOCAL-ELECTRICITY-SUPPLIERSS90Ae0.Globali+1aAion.DaAeTi0eor0aAIn0oNewsuSwitch.com