Credit Cards
Let the cashback battle commence
American Express has raised the bar in the cashback market, offering an impressive offer to challenge the current market leaders Capital One.
Consumers warned to avoid picking the wrong credit card
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 launches 5% Cashback Offer
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.
Credit card customers unwittingly pay £500m
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.
Store cards-trick or treat?
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.
Are you planning a plastic Christmas?
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.
Credit card switching on the up
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.
How to profit from Christmas spending
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.
Out of the spotlight and the fees increase
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.
Brits confused about how to detect and deal with ID theft
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.
New credit card comparison service
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.
Calls for positive order of payments for credit card customers
Following MoneyExpert.com’s announcement that three-quarters of credit cards pay off the cheapest debt first, Nationwide Building Society calls for a positive order of payments to be introduced on all credit cards.
Most credit card providers pay off cheapest debt first
More than three quarters of credit cards are cashing in on “order of payments” rules which allow them to clear cheap debt first and sting customers for higher interest rates, new research from MoneyExpert.com shows. Customers using plastic to borrow cash are the worst hit.
Payment advice to avoid being caught out by postal strike
APACS, the UK payments association, is advising all UK consumers to be mindful of the postal strikes over the next week as important post could be delayed that could have a knock on affect on finances.
uSwitch.com: Section 75 appeal of Consumer Credit Act 1974
Mike Naylor, personal finance expert at uSwitch.com, comments on three major credit card companies appealing to the House of Lords yesterday to clarify if Section 75 of the Consumer Credit Act 1974 (S.75) applies to credit card purchases made overseas.