Credit Cards News

By Matt Falloon LONDON (Reuters) - Credit card lending suffered its biggest fall on record in August and signs are emerging that higher borrowing costs may have started to cool the robust housing market, according to official data. The Bank of England said credit card lending fell 311 million pounds in August, its biggest fall since records began in 1993, while the broader measure of consumer credit rose less than forecast and mortgage lending was weaker than expected. Mortgage approvals -- s ...

By Matt Falloon LONDON (Reuters) - Credit card lending suffered its biggest fall on record in August and signs are emerging that higher borrowing costs may have started to cool the robust housing market, according to official data on Friday. The Bank of England said credit card lending fell 311 million pounds in August, its biggest fall since records began in 1993, while the broader measure of consumer credit rose less than forecast and mortgage lending was weaker than expected. Mortgage appr ...

Credit cards users repaid more money than they borrowed in August, for the first time since May 1994. The net repayment of credit card debt, of £311m, was revealed in statistics from the Bank of England (BoE). It means that the total amount of money still outstanding on credit cards fell to £55.4bn. Meanwhile the number of new mortgages approved, but not yet lent, fell slightly in August, down by just 1,000 to 119,000. Major British banks have been reporting the trend for net credi ...

WASHINGTON (AFX) - Late payments on credit card bills edged up this past spring, when high energy prices were squeezing the finances of some people and making it hard to pay bills on time. The American Bankers Association, in its quarterly survey of consumer loans, reported Wednesday that the percentage of credit card payments 30 or more days past due increased to 4.41 percent in the April-to-Jun ...

Reuters26 September 2006 Credit card providers have upped their interest rates, some by more than 12%, after the Office of Fair Trading made them reduce their default fees. STEALTH CHARGES: Having been ordered to cut their penalty charges, card providers are sneaking in rate hikes WANT TO KNOW MORE? Switch fee alert over credit cards Get the right Christmas card Fees blow for card users Credit card stealth charges OTHER STORIES Pump price war as crude slumps Market  ...

Many credit card firms have increased their interest rates in the last three months to offset enforced cuts in their default fees, a report shows. Financial data firm Moneyfacts said 19 leading credit card issuers have put up their charges. Earlier this year, the Office of Fair Trading (OFT) told them to halve their typical default fees to £12. These are the charges users have to pay for failing to meet the minimum monthly payment on their credit card. 'Alternative incomes' The list of ...

By Jennifer Hill LONDON (Reuters) - Credit card providers have upped their interest rates -- some by more than 12 percent -- after the Office of Fair Trading made them reduce their default fees. Price comparison service Moneyfacts.co.uk said 19 card providers had hiked their rates, with Barclaycard the worst offender. Barclaycard hit Simplicity platinum card customers with an increase of 12.1 percent to 27.9 percent on cash withdrawals as of the start of last month, Moneyfacts said in an anal ...

Mon 25th Sep 2006 Credit card company Mint has launched a new high-tech payment system to help customers keep up-to-date with their account. The new Mint text message payment service will enable customers to check their balances, review transactions and make payments to their bill via their mobile phone. Customers will receive a text alert when their monthly credit card statement is i ...

This is Money24 September 2006 Financial company Mint today launched an new service allowing customers to pay their credit card bills via text message. WANT TO KNOW MORE? Life of balance best buys Cashback best buys Credit card best buys OTHER STORIES One in ten towns caught by IHT Fraudsters targeting eBay users Market report: Friday close Warning against minimum wage hike Jo ...