Credit Card News
OFT to work with credit card industry to improve consumer information
The OFT has announced a new programme of work with the credit card industry and consumer bodies to make the cost of credit cards easier for consumers to understand.
Card providers still leave customers in the dark
Credit card customers still do not know the order in which their payments are allocated to their account, according to research from Nationwide Building Society.
Credit card users put branding ahead of rates
Brand and reputation outweigh almost all other considerations when customers choose credit cards, according to readers of Fool.co.uk.
New Visa Pre-paid card set to cure payroll headaches
Alliance & Leicester Commercial Bank in association with Money Card Limited (MCL) has developed Visa pre-paid cards that will bring significant cost and efficiency savings to company payroll systems.
Two great card deals in one week from Capital One
Lisa Taylor of Moneyfacts.co.uk, comments: “Capital One has hit the market this week with two new credit card deals. The Platinum Card, which offers a competitive all round 0% package and the Platinum Cashback Card offering a market leading introductory cash back return. Both cards are available to applicants aged over 21 earning at least £10K.
Capital One launches new credit card offering 4% cashback
Capital One is launching a new credit card offering consumers 4% cashback on all purchases for the first three months and 1% cashback on all purchases thereafter.
Credit card borrowers missing out on just rewards
Almost two thirds of credit card customers are being lured by incentives but then not reaping the rewards, reveals new research from the Post Office.
Capital One launches credit card offering 0%
Capital One is launching a new credit card with 0% on both balance transfers and purchases until 1st May 2008. After this date holders of the new Platinum card will also benefit from a competitive 9.9% APR typical variable.
Credit card customers still not happy
Following the credit card industry’s barrage of money making schemes in response to the OFT’s clampdown on penalty charges, the UK’s largest independent credit card report from uSwitch.com reveals that nearly seven million credit card customers (21%) are not happy with their existing provider.
Capital One new card offering
Commenting on the launch of Capital One’s new Platinum Card offering Rob Kenley, head of credit cards at moneysupermarket.com, said: “This revised offering from Capital One is a great all rounder.
Post Office – give with one hand take with the other
Michelle Slade, Personal Finance Analyst at Moneyfacts.co.uk, comments: “The latest product changes by the Post Office are a classic example of giving with one hand to offer enhanced 0% deals, yet taking back with the other hand by increasing fees and rates.
AOL Rewards American Express Credit Card from MBNA
AOL has announced the launch of the new AOL Rewards American Express Credit Card from MBNA, giving Cardmembers access to the MBNA Rewards programme, access to the MBNA TravelPlus service and discounts with selected RewardPluspartners.
Card firms cash in on withdrawals
Credit card firms are cashing in on customers who use their plastic to borrow cash, according to analysis by MoneyExpert.com.
Credit card fees: what are you paying for?
Michelle Slade of Moneyfacts.co.uk – the money search engine comments: “Since the OFTs intervention in the credit card market to cap penalty fees, card providers have used numerous rate and fee increases, and have tweaked terms and conditions in an attempt to recoup the lost revenue, with the latest tack being to introduce annual fees.
Return of annual fees is on the cards
Annual fees on credit cards are set to become the “norm” by the end of this decade as providers seek to rebuild profits, leading financial research company Defaqto predicts.