Credit Cards News

THE competition watchdog has warned that consumers are being charged too much every time a Visa-branded credit card is used to pay for goods. The Office of Fair Trading said an agreement between Visa and the banks on the level at which the usage fee should be set breached competition law and led to an "unduly high fee" being paid to the banks that had issued the credit card every time it was use ...

By Steve Slater LONDON (Reuters) - The Office of Fair Trading said on Wednesday the fees charged by the UK members of credit card company Visa infringe competition rules and lead to unduly high costs for retailers and consumers. The OFT issued a statement of objections regarding the interchange fees -- the charge paid between two banks when a retail transaction is carried out by card -- charged  ...

Thu 20th Oct 2005 The new Barclaycard Flexi-Rate credit card is being launched next week, and it is hoped customers will take a more sensible attitude to debt by using it.Taking a new approach to lending, the card rewards customers who pay off a higher proportion of their balance each month by charging them a lower interest rate.Customers paying over ten per cent of their balance will be charged  ...

Making the minimum payment on a credit card bill can cost thousands of pounds and perpetuate debt, a charity is warning. "A common misperception among people in credit card debt is that as long as they can afford the monthly minimum payment their financial situation is just fine," said Steve Rhode, chairman of not-for-profit money management organisation Myvesta. But this is far from the case.  ...

This is Money20 October 2005 BRITS are planning to tighten their belts this Christmas and cut back on their credit card spending. WANT TO KNOW MORE? DEAL FINDER: Credit cards CHAT: Discuss the best card deals GUIDES: Choosing the card for you OTHER STORIES Visa card fees break the law Take care with Christmas cards Critics pour cold water on OFT curb Store's 'underhand' card switc ...

LONDON (MarketWatch) -- Credit card issuer MBNA Corp. said third-quarter net income edged lower to $718 million, or 56 cents a share, from $728 million, or 56 cents a share, with provisions for credit losses falling to $262 million from $273 million. Analysts polled by Thomson First Call were expecting earnings of 53 cents a share. Total volume rose 15.6% to $61.3 billion, MBNA said.

Jo Thornhill, Mail on Sunday16 October 2005 DEBENHAMS is coming under renewed pressure from customers and consumer groups to stop sending out unsolicited credit cards. Angry Debenhams storecard holders are annoyed at the way the High Street retailer has tried to switch them to its credit card, which can have a higher spending limit than the storecard. ANGRY: Alison Edwards was sent one of the new cards despite saying she didn't want one OTHER STORIES Take care with Christma ...