Credit Cards | Finance

Consumers could significantly reduce debt sentence

Following news regarding credit and store cards that the government will address ‘negative payment hierarchies' and increase minimum monthly repayments, analysis from moneysupermarket.com reveals these changes could cut nearly 14 years, and £2,400 off a consumers lifetime debt sentence.

Nationwide welcomes Credit and Store Card Review

Nationwide Building Society welcomes the Credit and Store Card Review to be published by the Department of Business, Innovation and Skills (BIS). The review focuses on a number of important credit card practices within the industry including order of payments. Nationwide has regularly called on the UK credit card industry to abandon the practice of adverse order of payments. The cost to UK consumers of this practice is estimated to be around £500m. In the US, credit card providers are already changing their approach in order to meet recent consumer legislation. Nationwide has always allocated credit card payments in a positive way.

Credit card users don't understand repayments hierarchy

The majority of credit card holders are unaware of a charging mechanism which could be costing them hundreds of pounds, according to research from moneysupermarket.com.

Capital One Progress card

Just in time for the Christmas shopping, Capital One unveils the Progress credit card which is designed for consumers that do not have a ‘squeaky clean' credit record.

Barclays contactless on film

Barclays has produced a short ‘vidcast' to help customers looking to find out more about contactless - the new quick and easy way to pay for small transactions on debit and credit cards.

Mobile Europeans to benefit from new direct debit scheme

Mobile European citizens including workers, students, holiday-home owners, tourists and retirees living abroad will be among those who will benefit from a new direct debit scheme.

Over 50s could say thanks a billion to Saga

The media has rightly exposed some credit card companies for increasing interest rates at a time when the Bank of England Base Rate has reduced.

Sainsbury’s credit card increases 0% introductory period

Sainsbury's Finance has increased the 0% introductory period on purchases on its credit card from three months to ten months and has reduced its typical APR from 16.9% to 15.9%, going against the current trend in the credit card market.

RBS offers existing customer only credit cards

As UK credit card customers miss 17.8 million credit card payments in the last year, this week the RBS group fights back against bad debt by restricting all credit card applications to existing customers only.

Credit cards battling over fees

Credit card providers are cutting balance transfer fees in the battle for customers at the same time as they cut back on zero per cent transfer deals, according to new research from MoneyExpert.com.