Credit card news, Oct - Dec 2006

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Defaqto issues warning to persistent late payers

23 November 2006

Credit card customers who persistently pay off their debts late will be punished with higher interest rates according to financial research company Defaqto.

Britain's shopaholics are easy target for fraudsters

22 November 2006

British consumers' love of all things plastic has made them an easy target for fraudsters according to credit reference agency Equifax.

Caution encouraged on issue of store cards

21 November 2006

With Christmas just around the corner, many consumers will be looking for the best way to finance their Christmas shopping; particularly with analysts predicting that the average amount spent per head on gifts will be £310 this year.

Consumers warned about credit card cloning

20 November 2006

Credit card fraud has a new way of attacking the public, as more and more consumers are suffering from the latest trend: Credit card cloning.

Brits feel comfortable using chip and Pin

17 November 2006

A survey conducted by Harris Interactive has revealed that over 65% of Britons "feel comfortable" using chip and Pin.

HSBC extends offers for Christmas period

16 November 2006

HSBC is hoping to attract more customers by extending the interest free period for purchases and balance transfers on its credit card. Now the bank is offering 0% interest on purchases for six months and 0% interest on balance transfers until January 2008.

uSwitch calls for calm over PwC's predictions

15 November 2006

PricewaterhouseCooper's prediction that providers could apply an annual credit card fee to recover lost revenue needs to be put into perspective according to the price comparison and switching website uSwitch.

uSwitch comments on PwC findings

14 November 2006

Following yesterday's findings from PricewaterhouseCoopers (PwC), uSwitch, the price comparison and switching website, has commented on the possibility of banks bringing back an annual fee.

Power of plastic back for Xmas

13 November 2006

The UK payments association Apacs has claimed that Britons will spend £32 million on their credit cards to purchase all their Christmas shopping.

Credit card future is clear

10 November 2006

Technology company 3M has announced its vision for the future of credit cards, a card that is completely transparent.

Interest rate rise likely to cause drop in credit card spending

09 November 2006

The Bank of England's monetary policy committee (MPC) is meeting today to decide whether or not to raise the interest rate.

Capital One accused of serious breach by BCSB

08 November 2006

American credit card company Capital One has been severely reprimanded by the Banking Code Standards Board (BCSB) for a 'serious' breach of the British banking code, but the firm has only received a verbal warning.

Credit card spending starts to fall

07 November 2006

The latest statistics from Alliance & Leicester have suggested that credit card spending has started to fall and is now at the lowest point it has been since December 2004.

Brits will spend 35% more this Xmas

06 November 2006

Britons are planning to spend 35% more on their credit cards this Christmas with the majority of it being spent on the home and on cars. The latest figures from Morgan & Stanley Credit Index also revealed that £339 would be spent on groceries and that £251 would be spent on holidays and travelling between October and December this year.

Mastercard joins prepaid card market

03 November 2006

Credit company Mastercard has cashed in on the new trend for prepaid cards by launching its Prepaid MasterCard Gift Card and the Prepaid MasterCard Travel Card.

Barclaycard announces price change

02 November 2006

Barclaycard Platinum now has a new lower typical Annual Percentage Rate (APR) of 14.9%. This marks a drop of 3% on the previous rate of 17.9%.

Beware of credit card e-scams warns Barclays

01 November 2006

Barclays, one of the UK's biggest banks, is warning its customers to be wary of so-called e-scams which ask for the consumer's credit card details in order to steal money from them.

Education will help prevent debt says Credit Action

31 October 2006

National money charity, Credit Action, has called for greater financial education for consumers. The comments were issued after The Debt Counsellors announced that credit card debt is a factor in 91% of all cases of serious debt.

Credit cards cause binge debt for women

30 October 2006

The latest thing Brits are bingeing on is debt, with women in particular succumbing to taking out credit cards and splurging on them without assessing whether or not they can pay it off.

uSwitch warns on BT card

28 October 2006

Consumers are being warned that the launch of BT's new credit card is not as good a money saving offer as first thought.



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