Credit Card News

Sainsbury’s has launched a new credit card which will reward customers every time they shop. The new card, which also offers an introductory rate of 0% APR on purchases and balance transfers, will provide Nectar points equivalent to 2% cash-back on Sainsbury’s purchases.

UK consumers will continue to be protected when purchasing goods overseas on their credit cards following a landmark ruling by the House of Lords today.

Sean Gardner, Chief Executive of MoneyExpert.com, said: “The new Sainsbury’s Bank card is more evidence of the comeback of cashback type offers - but it’s a reward scheme with a difference as companies start to get clever and look to target different sectors of the market.

Mike Naylor, personal finance expert at uSwitch.com, the independent online price comparison and switching service, comments on the changes to the American Express Platinum Credit Card, with the launch of its 5% cashback offer:

American Express has raised the bar in the cashback market, offering an impressive offer to challenge the current market leaders Capital One.

A study by Fool.co.uk reveals that 296 out of 300 credit cards use negative payment hierarchy. This means that if you regularly carry a balance on your credit card, and the outstanding amount comprises debts that attract different interest rates, then you have a 99% chance of being with the wrong credit-card provider.

American Express has announced changes to its MoneyBack offer on its Platinum Credit Card. From today, the Platinum Credit Card will offer new applicants MoneyBack at 5% for the first three months, making it the market leading cashback card for new customers.

With 12 months to go before regulation forces credit card providers to draw attention to the order of payments they use, Nationwide Building Society urges them not to delay, and provide the clarity consumers need now.

Hallowe’en is just around the corner and shops are stocking clothes for the new season. Nationwide has looked at how consumers can be fooled by tricky terms and conditions when picking up a treat using a store card.

People planning to hit the credit cards for their Christmas spending need to apply for new cards now or risk being empty-handed for their shopping.

Six-and-a-half million Brits are set to switch credit card provider this year according to new research from Abbey Credit Cards. That’s up almost 5 per cent from last year. With the average amount transferred standing at £1710, there is over £11 billion on the move.

Samantha Owens, Head of Personal Finance at Moneyfacts.co.uk, comments: “Believe it or not there are only 10 weeks before Christmas. Looking round the shops, even now, you can see the decorations starting to dominate the floor.

Samantha Owens, Head of Personal Finance at Moneyfacts.co.uk, comments: “When the OFT capped card fees to a recommended £12, with the exception of a handful of card providers, most adhered to the suggested limit.

In National Identity Fraud Prevention Week Capital One is warning that over 42 million adults in the UK don’t know how to discover if they have been a victim of ID theft, despite almost blanket awareness of the threat.

Consumers can now compare credit cards from around 60 providers using more than 15 different search criteria categories, thanks to a brand new comparison tool from independent online finance portal, Fair Investment Company.