Credit Cards News

Brits 'comfortable' with loan and credit card debt
27 Jan 2006 source: myfinances.co.uk

British households could wipe nearly £30 billion from their personal debts, but many simply cannot be bothered. By receiving financial advice, ten households were able to reduce their personal debts by £1,215 on average in just three months. If the same level of success was applied to each of the UK's 24 million plus households then personal debt would be reduced by £29.7 billion. These are the ...

Loyalty card 'to cut cost of rail travel'
26 Jan 2006 source: thisismoney.co.uk

Dick Murray, Evening Standard26 January 2006 A NATIONAL loyalty card for rail passengers, entitling them to discounts of up to 50% on long-distance routes, is suggested today. OTHER STORIES Slowdown fuels insolvencies Drama as P&O backs Singapore bid Market report: Thursday 09.00 L&G passes business milestone The £1,560 cost of having a baby THE EDITOR'S CHOICE TOP  ...

Credit card firms fail to vet applicants
26 Jan 2006 source: today.reuters.co.uk

By Madeline Thomas LONDON (Reuters) - Almost 90 percent of people who successfully applied for credit cards over the past year were not asked to give any proof of their income, according to a survey by credit card comparison company USwitch. Some 95 percent did not have to prove any ability to repay their debt, the survey found, raising concerns that banks have "lend now, pay later" culture, the ...

NCipher shares leap on bid approach
24 Jan 2006 source: today.reuters.co.uk

LONDON (Reuters) - Shares in credit card and data security firm nCipher shot up on Tuesday after the company said it had received a takeover approach from an unidentified suitor. NCipher said the approach was of a preliminary nature and may or may not lead to an offer for the company being made. At 9:20 a.m., nCipher (NCH.L: Quote, Profile, Research) shares were up over 11 percent at 250 pence, ...

Five million Brits hit by credit card charges
23 Jan 2006 source: myfinances.co.uk

Close to five million Britons were hit by credit card penalty charges in 2005, new research reveals. An analysis by financial comparison website MoneyExpert.com and Defaqto found that one UK resident in nine incurred charges for things like late payments and exceeding credit limits. Additionally, while up to 4.5 million Britons plan to change credit cards this year, many of these do not understa ...

Credit card firms lend 'irresponsibly'
23 Jan 2006 source: myfinances.co.uk

Nine out of ten credit card firms do not check salaries before lending people substantial amounts of money, a new study reveals. Neither do credit card companies look into how able people are to pay back potential debts, ahead of offering them cards with large credit limits. Figures from online comparison site uSwitch.com show that 88 per cent of cardholders did not have to prove their income be ...

£50,000 - no questions asked
23 Jan 2006 source: thisismoney.co.uk

Jo Thornhill, Mail on Sunday23 January 2006 CONSUMER groups and charities are demanding tighter checks on credit card and loan applications. New research shows that 88% of credit cardholders did not have to prove their income when applying for credit. DEBT TEST: Brian Webb has urged credit card firms to evaluate customers better, after he ended up with £50,000 worth of unsecured debt WANT TO KNOW MORE? REPORT: Teenage debtors owe £60,000 GUIDES: Get out of debt DEA ...

Bankruptcies to rise as credit card spending takes its toll
22 Jan 2006 source: today.reuters.co.uk

By Madeline Thomas LONDON (Reuters) - The number of Britons declaring themselves bankrupt or seeking voluntary arrangements will continue to rise in 2006, debt advisers said on Friday, as the volume of people seeking debt advice shows no sign of abating. But signs that consumers are starting to turn away from borrowing on expensive credit cards could see personal debt levels falling in 2007. The National Debtline charity said that so far in January it had received 19,500 calls -- 1,000 a day  ...



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