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Law to reduce credit card debt to be introduced
18 Mar 2009 source: financemarkets.co.uk

In the credit crunch era, the government in about to introduce new plans to help make sure that credit card companies are responsible lenders and are stopped from increasing limits without agreement from the cardholder. It is hoped that by restricting the levels of consumer credit it can bring an end to irresponsible lending, although the proposed by the department Business, Enterprise and Regulatory Reform is primarily aimed at those consumers who are unaware as to the high level of interest a ...


Government to tackle unsolicited hikes in credit card limits
17 Mar 2009 source: financemarkets.co.uk

Credit card providers may be prevented from making unsolicited increases to spending limits on their customers’ accounts. In efforts to curb the mountain of personal debt in the UK, the Government is proposing new legislation that will end the practice of providers making ad hoc increases in credit limits. Speaking to the BBC, consumer Affairs Minister, Gareth Thomas, explains that ministers are concerned that people may be tempted to borrow irresponsibly “if credit card companies  ...


Tougher laws for credit cards that raise limits
17 Mar 2009 source: thisismoney.co.uk

This is Money17 March 2009 Reader comments (2) | Deals The Government is planning tougher laws for credit card firms who increase credit limits and provide credit card cheques without being asked. Unwanted: Credit cards firms will be told not to raise credit limits WANT TO KNOW MORE? Credit card limits cut by £2k Beware Barclaycard card debt break OTHER STORIES Credit card limits cut by £2k The credit cards for those with bad debts Line up a free card t ...


Brits ‘needlessly’ pay £9bn in credit card interest
16 Mar 2009 source: financemarkets.co.uk

Credit card holders in the UK are needlessly paying out over £9 billion in interest payments every year. Research by Abbey credit cards found that many card holders are paying interest on their credit balance when they could save significant money by switching to an interest free credit card. Seven in ten (69%) Brits have at least one credit card, with an average credit card debit of £3,256, Abb ...


UPDATE 1-Capital One credit card delinquencies rise in Feb
16 Mar 2009 source: iii.co.uk

(AFX UK Focus) 2009-03-16 10:49 UPDATE 1-Capital One credit card delinquencies rise in Feb


Credit card limits cut by £2k
13 Mar 2009 source: thisismoney.co.uk

Alan O'Sullivan, This is Money13 March 2009 Chat | Vote | Guide | Calculate Millions of credit card customers have had their limits cut by an average of £2,000 over the past six months as companies struggle to claw back funds. Cutting behaviour: some customers with perfect credit files have had their limits slashed WANT TO KNOW MORE? The credit cards for those with bad debts Find the best deals on credit cards Barclaycard freezes rates on credit cards POLL: Over th ...

 

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