As we enter a recession credit card crime is thought to rise. The reason for this prediction is that when times are hard and unemployment goes up, so do crime rates. Credit card fraud is one of the up and coming crimes and therefore the mixture of the current economic situation and credit card fraud being the new thing for criminals it is set to increase even further.
Continue reading
The credit card companies in the UK have signalled the government that they aren’t going to play nice and have again raised the interest rates on their credit cards. The last few weeks have seen the government getting stricter with the credit card companies, threatening them with government action if they don’t mend their ways. The government has lowered the interest rate three times in an effort to help the economy and the credit card companies were told to follow their lead. They have not done this however, and the average cardholder is now paying more today than they were just a few months ago.
Continue reading
A study has just claimed that credit card fraud in the UK is down, but it has pushed the numbers in overseas countries higher. Fraud in the UK is for credit, and debit cards are less by 14 times that of the overseas issues. The report stated that the chip and pin system is working. The UK anti-fraud policies have managed to save many UK consumers from having their credit card stolen.
Continue reading
The Egg is now being fried after its owner Citigroup admitted fault in some misleading information being given to its prospective customers. Between the years of 2005 to 2007 the advice that Egg’s salespeople dispersed was deemed bad. The Financial Services Authority that oversees the industry has announced that the company will pay £721,000 in fines. These fines are the result of the selling of the company’s payment protection insurance for their credit cards.
Continue reading
A recent question as to how many credit cards are normal for a consumer to have led us to search out the answer. In the US, the Fair Isaac Corp. which looks at credit scores and history stated on average the population has 9 credit cards to their name. This is not really any different from what APACS and other credit card studies have shown us in the UK. The average person usually has 9 credit cards in their wallet at any given time. There are a small percentage of credit card residents that don’t have a credit card at all, and some have more than 13 cards.
Continue reading
Abbey just did a recent poll on how many credit card holders would use their credit cards for Christmas this year. About 1 in 5 UK residents say they will avoid putting their entire Christmas on credit cards. The study revealed about 52 percent of credit card holders will spend less on presents. 34 percent stated they would not be buying any gifts for Christmas.
Continue reading
According to the CEO from Barclaycard in the UK their company has actually seen a drop in credit card spending. Unfortunately Barclaycard has also seen a rise in bad debts. About 3 to 4 percent of the consumers are spending less, and will most likely continue in this trend. Barclaycard expects the spending to become less as more UK consumers lose jobs and the recession grows larger. Barclaycard is one of the largest banks in the UK right now, and they also expect to grow during the next few months.
Continue reading
The holidays are about to begin and most of the UK consumers have already been out shopping for their gifts. Online bargains seem to be a great way to get a product cheap. You also get to use your Debit or Credit Card online. It saves you in gas and having to visit a couple of stores for the comparison shopping; however not all online bargains are what they seem.
Continue reading
The economy around the world struggles to keep up with all its payments and it seems that the credit card companies in the UK must now give people some help. The government in the UK has taken the problem directly to the credit card issuers. The effort of the government is to have the credit card companies give the customer an additional sixty days to reduce or pay off their debt. The confirmation from the credit card companies suggests that they are willing to go along with the government in the hopes that some stability will return to the economy. While this is surely not a proper fix to the economic woes that the UK customer faces, it is a possibility that it will allow them the time to examine their options. Continue reading
The credit card industry has had a hard time according to most companies getting their money from consumers. Many consumers in the UK are struggling to pay their regular bills, and let their credit cards be paid last. Even those who pay attention to their credit cards may soon find pleasant deals gone. “Rate tarts” as these individuals are often called may find the 0% credit cards off the market at least to them. Continue reading
