Credit card news, Jan - Mar 2007

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Liverpool set to trial Bread card

26 February 2007

Liverpool has been named as the first city to trial the new pre-pay credit card from Mastercard, known as the Bread card.

Hand-held credit card reader to cut fraud

23 February 2007

A new hand-held credit card-reading gadget, developed by the UK's payments association Apacs, is set to be launched in the hope that it will cut down credit card fraud online.

Lloyds TSB introduce penalty for not using credit cards enough

22 February 2007

Credit card customers of Lloyds TSB could find themselves hit with an annual £35 fee if the bank deems they are not using their card enough, according to the letters it sent out to consumers this week.

Barclays in talks to sell Monument credit cards

19 February 2007

One of the UK's largest banks is in talks to sell off one of its credit card businesses which caters for consumers with poor credit ratings.

Halifax offers 0% for 12 months

16 February 2007

One of the largest high street banks is offering its customers 0% on balance transfers and purchases for the next 12 months, providing they take out its new, online credit card before the end of February.

Apacs marks anniversary of chip and PIN day

14 February 2007

The UK payments association Apacs is marking the anniversary of the mass introduction of credit and debit card chip and PIN payments by issuing an update on the successful progress of the security system.

Birmingham named as credit card fraud capital

13 February 2007

Over a third of residents in Birmingham claim to have been a victim of credit card fraud according to the latest research from insurance firm CPP.

Barclaycard gets struck by cupid

07 February 2007

In honour of St Valentine's Day and the inevitable splashing of cash that occurs at this time of year, Barclaycard is rewarding love-struck customers with a cashback offer of 10% on romance-related gifts.

New chip and Pin threat not used in UK, says Apacs

06 February 2007

Cambridge University researchers have stated that a new security threat is likely to attack credit card users, but the UK payments association Apacs has called for calm, saying that the hacking method is not being used in Britain.

Banks failing consumers by not performing credit checks

05 February 2007

Price comparison and switching website uSwitch.com has called for banks to take on more responsibility when it comes to lending practices, following results from its survey which revealed that 96% of credit card applicants were not asked to prove their outgoings.

Store cards will continue to evolve, predicts FLA

01 February 2007

Following the Financial Service Authority's (FSA's) decision to fine GE Capital yesterday - one of the largest providers of store cards – for mis-selling insurance policies on credit and store cards, experts have questioned how much longer consumers will be attracted to the often short-term gains of owning a store card.

TK Maxx owner rapped for keeping credit card details too long

31 January 2007

TJX, the parent company of clothing and homeware store TK Maxx, has been severely reprimanded for keeping customers' credit card details on for far too long, putting consumers' identities at risk.

Mp3s are latest tool of credit card fraudsters

30 January 2007

Credit card fraudsters have found a way to steal consumers' hard earned-cash despite the increased security of chip and Pin thanks to the humble mp3 player.

Credit card companies are putting consumers at risk, says FSA

29 January 2007

A report released by the Financial Services Authority (FSA) has revealed that credit card providers who mail blank cheques to their customers as a marketing tool may be putting them at risk from identity fraud.

Credit card spending will increase 68%, says Morgan Stanley

26 January 2007

In the next three months, British consumers will spend an average of £1,228 on their credit cards, up 68% from the £730 average in the first three months of 2006.

Barclaycard drops rates

25 January 2007

Credit card provider Barclaycard has announced that it is to cut its rates on the Barclaycard Premiership and Barclaycard Charity card by 3%.

Nationwide pledges more free ATMs in needy areas

24 January 2007

Nationwide, one of the largest providers of cash machines, has pledged to provide more free-to-use ATMs in the poorest areas of Bristol and is appealing to the local public for suggestions as to where the cash points should be.

84% of store card holders have no idea about interest

23 January 2007

Research conducted by the Yorkshire Bank has revealed that 84% of store card holders have no idea how much interest they are paying on their purchases each month.

Credit card spending drops for first time since 1993

19 January 2007

Figures from the British Bankers' Association (BBA) have shown that British consumers are putting less on their plastic, as credit card spending fell by £1.8 billion last year.

Proud parents spend £1.4bn each year on kids' birthdays

18 January 2007

Credit card company American Express has revealed that British parents truly dote on their children, collectively spending a whopping £1.4 billion on their birthday parties alone each year.



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