Credit card news, Apr - Jun 2006

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UK now a plastic society

30 June 2006

The UK has rapidly developed into a "plastic society" since the launch if credit cards in the country 40 years ago, according to a personal finance expert.

Unused credit cards pose identity theft risk

29 June 2006

Unused credit cards are putting millions of Brits at greater risk of falling victim to identity theft, according to a specialist credit history firm.

Credit card repayments outstrip borrowing

28 June 2006

More people are repaying, rather than adding too, their credit card debts

UK credit cards reach 40

27 June 2006

The UK's credit card industry will be celebrating its 40th birthday this week.

Card holders spending big on sport

26 June 2006

Brits will spend nearly £5 billion on sports and fitness activities this year, according to Barclays bank.

Credit cards still used by retired

23 June 2006

Some of the UK's retired population continue to use credit cards even when they have a much reduced income, a charity has warned.

Huge variety found in 0% credit card deals

22 June 2006

New research has revealed that introductory interest free offers on credit cards vary hugely.

OFT to investigate credit card interchange fees

21 June 2006

The Office of Fair Trading (OFT) has announced it is to start an investigation into the legality of credit card interchange fees.

Overseas card fraud falling

20 June 2006

The amount of fraud committed overseas using UK credit and debit cards has fallen for the fourth consecutive year, according to the country's payments association.

American Express: Balance transfer changes not due to OFT

19 June 2006

American Express has said that its decision to stop offering balance transfers for new customers was "not directly linked" to the Office of Fair Trading's (OFT) demand for cuts to default charges.

Link invests in credit card alternative

16 June 2006

Link, the operator of the UK's cash machine network, has invested in a company that offers a prepay cash card that serves as a useful credit card alternative.

Beginning of the end for rate tarts

15 June 2006

The decision by credit card issuer American Express to stop offering balance transfers to new customers has been described as "the beginning of the end" for rate tarts, by an industry expert.

100 credit cards stolen by mail worker

14 June 2006

A postal worker has admitted stealing more than 100 credit cards in a scam worth over £800,000.

Credit cards an option for mums

13 June 2006

Mums could use credit cards as a way of controlling the costs of kitting out their kids, according to a senior industry figure.

More credit card customers paying above minimum repayment

09 June 2006

Barclaycard ahs revealed that customers of one of its credit cards are repaying their balances more quickly, reducing the amount of interest they have to pay.

Credit card companies profit from payment structure

08 June 2006

It has been revealed that credit card providers make an extra £500 a year from the way they allocate payments.

Post Office issues credit card alternative

07 June 2006

The Post Office has launched a new pre-pay card that could save consumers from having to use their credit cards abroad.

Nationwide moves to £12 default charge

06 June 2006

Nationwide has become the latest big high street name to lower its credit card charges, following an investigation by the Office of Fair Trading (OFT).

HBOS reduces credit card charges

05 June 2006

HBOS has become the latest bank to lower its credit card charges in response to recommendations from the Office of Fair Trading (OFT).

Banks cut credit card charges

02 June 2006

Many of the UK's largest banks have cut the charges they impose when consumers miss or make late payments.



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