Credit Cards
Expert comments on Halifax All-in-One card
The Halifax has recently announced the launch of its All-in-One card, where consumers can enjoy ten months interest free credit on both balance transfer and purchases made on the card. Sean Gardner from MoneyExpert.com said that whilst the card may prove attractive to many consumers looking for 0% on both purchases and balance transfers, some people with good credit may be able to get a better deal.
Popularity: 2% [?]
Customers want to see more financial products at the supermarket
According to the results of a recent survey customers in the UK are eager to see a wide range of financial products being made available from their local supermarkets, as many feel that the supermarket can offer far better service and far better value for money on these services and products compared to traditional banks. Many supermarket giants, such as Asda, Tesco, and Sainsbury’s, already offer a range of financial products and services such as insurance, loans, savings, and most popularly credit cards.
Popularity: 34% [?]
There may be future difficulties for credit card customers whose limits were cut
A recent report has suggested that many credit customers who have recently had their credit limits slashed by their card provider could end up experiencing a range of problems in the future, making it difficult for them to get finance as a result of being so close to their credit limits. Many credit card customers have recently found that their credit limit were slashed to just £100 above their existing balance, and the card companies did not even inform them that they were cutting their credit limits.
Popularity: 29% [?]
Credit card addicts continue to defy credit crunch
Whilst many people have had to tighten their belts and cut back on spending due to the turmoil caused by the global credit crunch and tighter lending conditions, it seems that many credit card addicts are not only continuing to spend and accrue debt during these difficult times, but are also juggling five or more credit cards. A recent report suggests that over three million Brits have five or more cards, and in some cases are clocking up debt on all of their cards as they continue to frivolously spend.
Popularity: 19% [?]
No apology for Egg customers
Earlier this week the former consumer affairs minister and Labour MP Nigel Griffiths announced that he had a meeting with the Chief Executive of financial giant Egg, Ian Kerr. The purpose of the meeting was to discuss the recent withdrawal of the credit cards of 161,000 consumers following a review of over two million credit card accounts.
Popularity: 36% [?]
Egg’s actions could benefit some borrowers
The recent decision of the online lending giant Egg could actually benefit some customers according to a recent report, enabling them to prove their creditworthiness as a result of having their account closed. Egg recently announced that around 161,000 would have their credit card accounts closed, claiming that those affected were people whose credit profiles had deteriorated since they opened their credit card accounts.
Popularity: 48% [?]
Many Brits overspent in 2007
Worrying data from a recent report suggests that last year over five million Brits ended up spending more than they earned, with some officials branding Britain a nation of spendaholics. The reports suggests that the spending of many Brits spiralled out of control last year, with a worrying number of people spending far more than they could afford to, often on unnecessary items and luxuries.
Popularity: 47% [?]
Many people will have cleared their cards by end of Jan
According to a recent survey carried out by Sainsbury’s Bank the majority of consumers that used their credit cards to put Christmas spending on the plastic will actually repay their balance in full by the end of January, which could save many of these people a fortune in interest. Of those surveyed around 61% stated that they planned to clear their balance in full at the end of the month.
Popularity: 65% [?]
Debt charities get ready for enquiries
With Christmas well and truly over for another year debt charities and agencies such as the Citizen’s Advice Bureau are now preparing themselves for the mass influx of debt related enquiries that is expected across the UK. The Christmas season will have seen many consumers overspend on credit cards and through other forms of finance, and as a result many will now face severe financial difficulties as the New Year kicks off, with many being forced to seek advice in order to try and sort out their financial woes.
Popularity: 74% [?]
Cheque deposits offer greater benefits for consumers
In recent changes made to regulations relating to cheque deposits into bank accounts, consumers can now enjoy greater benefits and greater protection. Consumers that make cheque deposits into their banks will be able to enjoy greater efficiency and speed, as well as greater peace of mind. New regulations were put together by APACS and the Cheque and Credit Clearing Company, and came into force last month.
Popularity: 26% [?]