Credit Cards News

Bank and credit card customers should challenge charges they feel are unfair, a leading consumer group has urged. Emma Bandey of Which? told BBC Radio 4's Money Box current charges are disproportionate and in breach of consumer regulations. Ms Bandey spoke of the group's delight with the Office of Fair Trading (OFT) announcement on Wednesday which said credit card charges must halve or companies could face legal action. The OFT said the fines - imposed when a payment is missed or a credit lim ...

The slowdown at the Co-operative Bank offset a much improved performance from insurance business CIS, which doubled profits to £37.1m after a modernisation drive announced in the summer of 2004.Overall, CFS profits rose 3.8 per cent to £135.7m in the year to January 14, as it presented integrated results for its banking and insurance operations for the first time. CFS chief executive David Anderso ...

This is Money6 April 2006 A rising tide of credit card debt hit Co-operative Financial Services today after it reported a 16% slump in profits at its banking arm for last year. DEBTS GLOOM: Co-op says profits at its card business are down due to bad debts WANT TO KNOW MORE? REPORT: Charity card best buys DEAL FINDER: Best credit cards GUIDES: Learn more about credit OTHER STORIES Conned trader told to foot bill Victory on penalty charges New on the market Which? warn ...

Liz Phillips, Daily Mail6 April 2006 A FURNITURE maker has lost nearly £6,500 to a gang of credit card fraudsters. And even though he took every precaution, his bank has told him he will have to foot the bill. CONNED: Nat Levick tried to tell the police of his suspicions, but now he has to foot the bill WANT TO KNOW MORE? ADVICE & TIPS: Avoiding ID fraud ARE YOU A VICTIM? Check your credit OTHER STORIES Victory on penalty charges Which? warns over loans sc ...

By Steve Slater and Clara Ferreira-Marques LONDON (Reuters) - The Office of Fair Trading told credit card companies on Wednesday to cut penalties for the late payment of bills by about half from their current level and signalled other bank charges need to come down. The OFT said the principles in its decision on credit card default charges would apply to other bank charges such as those for overdrafts, store cards and mortgages. The OFT said excessive penalties on the late payment of credit c ...

By Clara Ferreira-Marques and Steve Slater LONDON (Reuters) - The Office of Fair Trading on Wednesday told credit card companies to cut penalties for the late payment of bills by about half from their current estimated charge. The OFT said the principles in its decision on credit card default charges would apply to other bank charges such as those for overdrafts, store cards and mortgages, signalling other penalties need to come down. The OFT said excessive penalties on the late payment of cr ...

Michael Clarke, This is Money5 April 2006 BANKS and credit card companies have been ordered to stop ripping off consumers with 'unlawful' penalty charges. OTHER STORIES BP hit by third output slide Market report: Wednesday 11.30 Dixons to exit High Street Stocks boom spurs cash dash into Isas EasyJet slips as Icelanders pull out THE EDITOR'S CHOICE TOP ADVICE: How to pick ...

LONDON (Reuters) - The Office of Fair Trading on Wednesday said credit card companies had to cut some penalties for late payment of bills. "Credit card default charges have generally been set at a significantly higher level than is legally fair," the OFT said in a statement. It estimated this had led to unlawful penalty charges of more than 300 million pounds a year across the industry. "The OFT now expects all credit card issuers to recalculate their default charges in line with the principl ...

LONDON (Reuters) - The country's consumer watchdog on Wednesday said credit card companies had to cut some penalties for late payment of bills. "Credit card default charges have generally been set at a significantly higher level than is legally fair," the Office of Fair Trading (OFT) said in a statement. It estimated this had led to unlawful penalty charges of more than 300 million pounds a year ...

Michael Clarke, This is Money3 April 2006 TESCO Personal Finance has launched a credit card targeted at consumers that fail to pay off their balance each month. WANT TO KNOW MORE? DEAL FINDER: Credit cards GUIDES: Beat debt BEST DEALS: What we recommend POLL: Who is to blame for the boom in UK credit card lending? OTHER STORIES Zopa to start charging fees Fifth of bankrupts are  ...