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Credit card companies sneak in higher rates
Under cover of the EU payment services directive, which will come into play on the 1st November, a whole host of UK credit card companies would appear to have sneaked in a number of interest rate rises. Under the payment services directive, credit card and debit card companies have been ordered to simplify their terms and conditions and sent out very thick documents to their customers to review.
Virgin Money changes terms for credit cards
In a move which will be welcomed by consumers up and down the country, Virgin Money has announced plans to introduce a whole new credit card payment system from 1 September. Currently any payments made to your credit card will go towards your cheapest debt first, which for many people is the 0% transfer deal, as opposed to purchases/payments and cash withdrawals - all of which attract a significan...
Read More12 Ways A Business Can Benefit From Credit Card Usage
What is one of the biggest challenges that a small business will face? At the very top of the list is "managing cashflow". Cashflow is the lifeblood of a business, preferably with more coming in than going out. Unfortunately most businesses, no matter how strictly managed, will have to pay out occasionally. There are very good reasons why those purchases and payments should be made on the plast...
Read MoreCredit card rates 'will continue to rise'
It has been claimed that credit card rates will "continue to creep up" over the course of 2008, as the credit crunch continues to affect credit card providers.Samantha Owens, head of personal finance at Moneyfacts, explained that lenders will be trying to repair the effects of the global credit crunch on their business and as such will look to move up credit card rates at every opportunity.Further...
Read More7 Tips For Avoiding Identity Theft on Holiday
When you go on holiday, the furthest thing from your mind may be identity theft. However, it is a real risk in today's society and you need to make sure that you protect yourself. Here are seven easy ways that you can keep your credit cards and identity safe while on holiday. Invest in quality travel luggage: To avoid having your cards and money stolen while on holiday, you may need to invest...
Read MoreIs it time to ditch that credit card?
As credit card interest rates show very little sign of falling back many people are starting to wonder if it is time to ditch that credit card, convert into a loan and live within their means in the future. This is a quandary which many in the UK will face over the next few months as the credit card bills keep falling through the letterbox with little spare cash to make a marked dent in the figur...
Read MoreEU regulations will increase credit card refunds
New EU regulations, which will come into force in the UK in November, will see more and more credit card holders able to reclaim for payments which were not pinpointed at the point-of-sale and eventually turned out to be more "than they had expected". Under the new legislation, which will be part of the EU's payment services directive, credit card holders who dispute their bill will be able to req...
Read MoreHave you seen a reduction in your credit card limit?
As the credit card industry comes under more and more pressure to reduce interest rates it would appear that credit card companies are cutting back on their liabilities and their future exposure. A recent survey suggests that 2.7 million customers have seen their credit card limits reduced by an average £2,000 over the last six months. This is a substantial 50% increase from the same period last...
Read MoreConsumers concerned about personal data compromise
Over half of all shoppers say they would take their business elsewhere in the event that a company lost or disclosed their personal information, according to a new MORI poll.According to the survey, which was commissioned by Secerno, a data security firm, 91 per cent of UK adults are in some way concerned about the protection of their personal data.A quarter of people surveyed said that online ret...
Read MoreI can't pay my credit card bill!
Since the credit crunch began many people have been struggling to pay their credit card bills on a monthly basis and indeed many are now starting to fall behind with their payments. So what can you do if you start to struggle with your credit card bill? The first thing you must do is stop spending on your credit card! Then you need to take professional advice from either a financial advisor or...
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