Archive for July, 2007
London to test Barclay’s combination card
England’s capital city is to be the first to test out the new combination card being launched by Barclay’s in conjunction with Oyster.
The three in one card is to be launched in London later on in the year, and customers will be able to pre-register for a card before its launch via a special website that Barclay’s is setting up. Called OnePulse, the three in one card will enable customers to make purchases of up to £100 without having to enter a pin number and without having to sign anything.
Popularity: 22% [?]
Watch out for rising gas bills
Energy giants, including British Gas, have cut the cost of gas and electricity since March of this year, which was great news for customers.
However, it has now been revealed that customers may have to face rising bills again, as the energy giants are under pressure to provide billions of pounds to the companies that run, maintain, and repair gas main networks in the UK. This could result in consumers have to foot a huge bill between them, which will see the cost of bills rise again.
Popularity: 18% [?]
Is your minimum credit card repayment clearing your debt?
Most consumers are only too aware that by making only the minimum overdraft repayment on their credit card they are likely to be in debt for far longer, and will have to pay far more interest overall.
However, some may not realize just how long they may be in debt, and this is because of a new tactic that many credit card companies have started using in order to try and make more profit from cardholders in light of recent changes made by regulatory bodies in the UK.
Popularity: 19% [?]
Flooding could result in claims of £1 billion or more
The recent bad weather in the UK has taken its toll on many households, affecting some areas worse than others and causing thousands of pounds worth of damage for some families.
Torrential rain and serious flooding has seen many people suffer terrible damage to their homes, gardens, and belongings. As a result of the damage caused by the floods there has also been a flood of insurance claims, and the effects of the flooding are likely to hit insurance companies just as hard. Aviva, the owner of Norwich Union insurance, stated earlier this week that its flood insurance claims were likely to exceed £175 million.
Popularity: 18% [?]
Downing Street disappoints broadband complainants
Downing Street has disappointed over nine thousand broadband complainants after responding to a signed petition by bouncing it back to authorities.
Over nine thousand people had signed a petition with regards to alleged false advertising by broadband companies with regards to ‘unlimited broadband’ deals, but Downing Street has simply referred the case to the Advertising Standards Agency.
Popularity: 18% [?]
Customers continue to leave Internet bank
One of the UK’s leading Internet banks continues to lose custom hand over fist after it started applying monthly charges to the accounts of thousands of its customers.
First Direct, the online subsidiary of HSBC, has on excess of one million customers, and according to officials from the Internet bank only around 200,000 of these customers were likely to be affected by the new charges that were brought in several months ago. The bank did not foresee any issues with enforcing the charge, but many customers have decided to go elsewhere with their finances.
Popularity: 18% [?]
Banks raise overdraft interest rates by significant levels
Recent reports have indicates that overdraft interest rates have been hiked up considerably by banks over the past year, going above and beyond the interest rate rises enforced by the Bank of England in some cases.
The past year has seen some bank raise overdraft interest rates by around 3% in some cases, making a significant difference to the amount that the consumer has to repay in order to benefit from an active overdraft.
Popularity: 19% [?]
Fixed rate customer heading for a shock
Experts are warning that many Brits that went onto fixed rate mortgage loans two or three years ago could be heading for a gigantic shock, as their fixed rate period draws to an end.
Millions of people fixed their mortgages at competitive rates several years ago, and despite the rising interest rates over the past year have managed to avoid the financial pinch of rising repayments so far. However, once their fixed rate period ends, as many are expected to do throughout this year, millions will suffer the hit of four or five interest rate rises in one go.
Popularity: 15% [?]
Bailiffs could be seizing bank equipment
The battle between banks and customer regarding the repayment of illegal and unfair bank charges has been raging for some time now, and in many cases customers have taken their banks to court for failure to repay the charged, which were deemed unfair and unjust by UK regulators last year.
One such bank is the Abbey, which was taken to court in June of this year in connection with a customer’s claim for £2493 in backdated bank charges – customers are able to claim for bank charges going back up to six years.
Popularity: 16% [?]
Abbey makes another blunder
The Abbey bank hit the news recently after it was discovered that thousands of its mortgage customers would now have to cope with up to fifteen years being added to their mortgage terms because of the bank’s failure to put up repayments when interest rates rose in the 1980s and 1990s.
As a result of this customers continued to make the same repayments, but more of each repayment went towards paying off interest because of the rate rises, which resulted in less of the payment going towards the principle loan.
Popularity: 17% [?]