Category: Credit Cards & Scoring
The analysis published under this category are as follows.
Wednesday, January 11, 2012
New Year, New Credit Card, But Watch Out for the Fees / Personal_Finance / Credit Cards & Scoring
By: MoneyFacts
Balance transfer cards now offer the longest debt free deals on record, however, the fees charged to move to a balance transfer card are now at their highest level in four years, research by Moneyfacts.co.uk has revealed.
On average, balance transfer cards offer 356 days of interest free debt transfer compared to 295 days three years ago.
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Friday, November 18, 2011
Barclaycard’s 11% Cashback Incentive Credit Card / Personal_Finance / Credit Cards & Scoring
By: MoneyFacts
Louise Holmes, spokesperson for Moneyfacts.co.uk, commented: “The news that Barclaycard has added an 11% cashback incentive to its Platinum Balance Transfer card until 31st December 2011, should please consumers.
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Friday, November 04, 2011
Best Cash Back Credit Cards for this Christmas / Personal_Finance / Credit Cards & Scoring
By: MoneyFacts
The festive season is nearly upon us and many people will be contemplating the task of Christmas shopping over the next few weeks.
Cashback credit cards are a good option for consumers who may be facing an expensive Christmas, as they offer rewards in return for spending. A range of cashback cards are available, offering varying rewards subject to how much and whereabouts consumers spend.
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Friday, October 28, 2011
In Praise of Credit Checks / Personal_Finance / Credit Cards & Scoring
By: Jeffrey_A_Tucker
It was maybe third grade when the schoolyard was abuzz with a terrible thing. It was called the "permanent record." If you did something bad enough, it would go on the permanent record. And then a one-day slip up would turn into a deep scar, a mortal sin that would last forever and permanently reduce your chances to make it in life.
Friday, July 15, 2011
Your Paying a Bankers Bonus 3% Tax / Personal_Finance / Credit Cards & Scoring
By: Rudy_Avizius
Are you WILLINGLY paying a 3% tax? Are you then paying this money so that it can leave your community, so it can be shipped to tax havens abroad and to pay for the bonuses of bankers and the Wall Street types?
Tuesday, February 01, 2011
UK Average Credit Card Interest Rates Hit 13 Year High / Personal_Finance / Credit Cards & Scoring
By: MoneyFacts
Increased competition in the credit card market at the end of the 1990s meant rates started to fall, dropping to their lowest level in 2006.
Since 2006, as the economic downturn took hold, credit card rates have steadily increased, with the average rate for new customers today hitting a 13 year high of 18.9%.
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Tuesday, October 19, 2010
Top Three Ways to Boost Your Credit Rating / Personal_Finance / Credit Cards & Scoring
By: Credit_Choices
Your credit rating is calculated by a credit reference agency. The agency will carry out a credit rating check by compiling information based on a variety of sources, such as the electoral role, financial data and court records. This information is sold onto lenders who will use it to decide whether to lend money or what deals to make available to the customer.
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Wednesday, September 15, 2010
Save on Credit Card Interest Rate Payments by Utilising Interest Free Credit Cards / Personal_Finance / Credit Cards & Scoring
By: Credit_Choices
Paying interest on a credit card can take a big chunk out of your monthly earnings, so if you can avoid paying interest by using an interest free credit card, you should do so. There are now a variety of different credit card deals which can help you last longer without paying interest, you just need to know how to navigate the interest free credit card marketplace.
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Tuesday, September 14, 2010
What Are ‘Adverse Credit Cards'? / Personal_Finance / Credit Cards & Scoring
By: Credit_Choices
David P Walker writes: Adverse credit cards are available for people who may not have access to the most competitive credit cards. This is usually because they have a bad credit rating, and are therefore considered by lenders to be in the ‘high risk’ category of borrowers. Adverse credit cards usually have higher interest rates and less features than other credit cards, making them an unattractive option for those who can take out other types of credit card. However, they can help to rebuild a good credit rating, if used sensibly.
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Tuesday, September 14, 2010
Top 5 Tips for Using a Credit Card Abroad / Personal_Finance / Credit Cards & Scoring
By: Credit_Choices
Using a credit card abroad can be an expensive business. If you are planning to make use of your credit card abroad, there are some simple steps you can take to ensure you get the best deals and pay as few fees and charges as possible.
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Saturday, August 21, 2010
Poll Shows 7 in 10 Demand Lending Interest Rate Cap To Cover All Forms of Credit / ConsumerWatch / Credit Cards & Scoring
By: Submissions
A new poll has found overwhelming public support for stricter limits on the cost of consumer credit.The poll, commissioned by Compass and Trident Reach from YouGov, found that 68% of respondents thought the government should introduce a lending rate cap to cover all forms of consumer credit, including unsecured credit.
Monday, June 07, 2010
UK Credit Card Market Back Open for Business / Personal_Finance / Credit Cards & Scoring
By: MoneyFacts
The credit card market has seen a resurgence in recent months as card providers once again put the ‘open for business’ sign in the window.
In the last year the number of cards charging no interest on new purchases for at least 10 months has increased by 450%.
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Thursday, March 18, 2010
Credit Risk Hits the 0% Balance Transfer Market / Personal_Finance / Credit Cards & Scoring
By: MoneyFacts
Virgin Money’s decision to reduce its 0% balance transfer period from 16 to 14 months has highlighted another tactic by credit card providers who, over the course of the credit crunch, have adopted a risk based approach to lending.
The number of cards offering balance transfers has fallen by 10% since the credit crunch began in 2007. As of today, 152 out of 219 cards offer balance transfers deals, 140 of them at 0%.
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Monday, February 22, 2010
Two Cheers for Credit Cards / Personal_Finance / Credit Cards & Scoring
By: Robert_Murphy
Ever since someone in grad school deviously introduced me to the concept of "irrational" debt aversion, I have been carrying credit-card balances that are far too high. Believe me, I understand the tricks these companies pull, like the clause in fine print where you unwittingly pledged away your firstborn.
Monday, February 15, 2010
Credit Card Interest Rates Hit 12 Year High Despite 0.5% Base Rate / Interest-Rates / Credit Cards & Scoring
By: MoneyFacts
Increased competition in the credit card market at the end of the 1990s meant rates started to fall, dropping to their lowest level in 2006.
Since 2006 as the economic downturn took hold, credit card rates have steadily increased, with the average rate today hitting a 12 year high of 18.8%.
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Friday, January 22, 2010
Major Credit Card Changes Looming for 2010 / Personal_Finance / Credit Cards & Scoring
By: Amber_Dakar
Do you remember the days of easy credit? It doesn’t seem that long ago when we “benefited” from loose lending standards in the credit card industry. It seemed like every day there were multiple credit card offers in the mailbox with no annual fees, extremely low and prolonged introductory interest rates, and very generous credit lines.
Wednesday, January 20, 2010
Greater Transparency and Control of Credit and Store Cards Needed / ConsumerWatch / Credit Cards & Scoring
By: MoneyFacts
Moneyfacts.co.uk has delivered its response to the Department for Business, Innovation and Skills’ consultation paper on ‘A better deal for consumers’ on credit and store cards.
Samantha Owens, Principal Consultant – Banking and Economic Insight at Moneyfacts.co.uk, commented: “Credit cards form an integral part of the financial services industry and allow customers to transact with convenience, reassurance of safety and added consumer protection.
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Tuesday, November 17, 2009
Beware of Credit and Debit Card Foreign Usage Charges this Winter / Personal_Finance / Credit Cards & Scoring
By: MoneyFacts
As winter draws nearer, many people will be considering booking a holiday to sunnier climates.
While using your credit or debit card may be the easiest way to pay for things while your away, costs can soon mount up.
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Tuesday, October 27, 2009
Credit Card Companies Forced to Reform Bad Practice / Personal_Finance / Credit Cards & Scoring
By: MoneyFacts
Michelle Slade, spokesperson for Moneyfacts.co.uk comments: “For far too long the card companies have been able to get away with practices that are not in the best interests of the consumer.
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Thursday, October 01, 2009
Dormant Credit Cards Warning, Immediate Action Required as Good Customers to be Penalised / Personal_Finance / Credit Cards & Scoring
By: Nadeem_Walayat
UK Credit card providers are implementing a whole host of charges and fees to penalise their 'good' customers for the losses suffered on their 'bad' customers that has resulted in bad debt writedown losses of £3.2 billion for the past 12 months.
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Wednesday, September 02, 2009
Stay in Control of Your Credit Card and Reap Cash Back Benefits / Personal_Finance / Credit Cards & Scoring
By: MoneyFacts
Mentioning the word ‘cashback’ in the title of a financial product is a sure way to catch the eye of a potential customer. The prospect of receiving a payment from your lender or provider can be both refreshing and appealing to many customers, particularly those looking for credit cards.
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Wednesday, August 19, 2009
U.S. Hacker Steals 130m Credit Card Numbers / ConsumerWatch / Credit Cards & Scoring
By: Pravda
The man who prosecutors said had masterminded some of the most brazen thefts of credit and debit card numbers in history was charged on Monday with an even larger set of digital break-ins.
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Friday, August 14, 2009
U.S. Credit Card Trap / Personal_Finance / Credit Cards & Scoring
By: Jennifer_Barry
With U.S. household net worth down US$14 trillion since the peak in 2007, Congress has belatedly started to act concerned about the financial condition of the American consumer. In May, legislators passed the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act to great fanfare. The law does end some of the worst abuses, prohibiting an increase in interest rates if a customer is late paying a different company, disallowing most retroactive rate hikes, and banning fees if the bank neglects to credit a payment.
Wednesday, July 01, 2009
Banks Squeeze Credit Card Account Holders / Personal_Finance / Credit Cards & Scoring
By: Mike_Shedlock
In the course of this recession, consumer attitudes towards spending have changed. So have banks' attitudes towards lending.
In regards to consumer spending and credit cards, some consumers have had a voluntary attitude adjustment. Others have had an attitude adjustment thrust upon them. Several articles will show what I mean.
Tuesday, June 30, 2009
How to Improve Your FICO Credit Rating Score / Personal_Finance / Credit Cards & Scoring
By: Money_and_Markets
Nilus Mattive writes: In the Dividend Superstars issue that just went to press, I talked about FICO credit scores — the three-digit numbers that greatly determine how much money we can borrow, what interest rates we pay, and even how employers and landlords view us.
Friday, June 12, 2009
Credit Card Application Success, Increase Your Odds by Checking Your Eligibility / Personal_Finance / Credit Cards & Scoring
By: MoneySupermarket
Getting a credit card on good terms has become a harder task over the last couple of years, with providers scrutinizing credit records like never before.
Thursday, June 04, 2009
Credit Card Interest Rates Continue to Increase Despite Base Rate Cuts / Personal_Finance / Credit Cards & Scoring
By: MoneyFacts
The average credit card purchase rate continues to increase, today standing at 18.1%, up from 16.3% two years ago.
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Tuesday, May 26, 2009
Debt Is Financial Cancer! Minimize It, Pay It Off Early and Stay Away From Credit Cards / Personal_Finance / Credit Cards & Scoring
By: Jack_Spirko
On the surface debt elimination may sound far and away from what people think of when they think of survivalism. The reality is the modern survival philosophy actually hinges on this tenet. Before we delve deeply into the topic though let’s just put it up against even the typical view of survivalism and ask if there is any place for debt-based living in the survival community.
Friday, May 08, 2009
Credit Card Companies Draw Battle lines / Politics / Credit Cards & Scoring
By: Global_Research
Will The US Senate Pass Long Needed Reforms Of Credit Card Abuses?
I recently was advised by American Express, a company whose credit cards I pay in full each and every month, and with whom I have been a paying “member” since l981 that my credit card limit is being cut. I have become unworthy.
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Tuesday, May 05, 2009
Capital One sites Worsening Economic Conditions for Refusing Credit Cards / Personal_Finance / Credit Cards & Scoring
By: Mike_Shedlock
Here is an interesting email from "Scott" who was denied a credit card from Capital One, on the basis of "worsening economic conditions" in his area. "Scott" says he has a FICO score of 800. From Scott .....
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Friday, April 24, 2009
Congress Targets Credit Card Companies Bad Practices / Politics / Credit Cards & Scoring
By: Peter_Schiff
With much fanfare this week, Congress and the Administration began a series of actions designed to protect over-leveraged consumers from the high fees imposed by credit card lenders. As with most other initiatives devised by government, this policy will create a host of unintended consequences that will undermine the benefit the program hopes to create.
Monday, April 06, 2009
Warning, Beware of Credit and Debit Card Foreign Usage Charges / Personal_Finance / Credit Cards & Scoring
By: MoneyFacts
With the Easter bank holiday nearly upon us, many people will be looking to go abroad on holiday in the coming weeks. While using your credit or debit card may be the easiest way to pay for things while your away, costs can so mount up. Read full article... Read full article...
Friday, March 06, 2009
Nationwide to Introduce Fee on Debit and Credit Card Foreign Transactions / Personal_Finance / Credit Cards & Scoring
By: Nadeem_Walayat
Millions of British consumers have long enjoyed the benefit of using the transaction fee free Nationwide credit cards abroad both when on holiday and for online purchases. However the Nationwide has now announced that they will be introducing a 0.84% fee from 6th of May which will rise to 1% on the 1st of June.Read full article... Read full article...
Sunday, November 02, 2008
Is Credit Card Relief Coming? / Personal_Finance / Credit Cards & Scoring
By: Mike_Shedlock
Credit card defaults are soaring. And banks after having fought credit card reform for years are now in panic mode over losses.Newsday.Com asks Is Credit Card Relief Coming?
Banks, which are losing billions because many card holders aren't paying anything, seek OK to forgive up to 40% of strapped consumers' debts. Big banks have formed an unusual alliance with consumer advocates to urge the government to allow huge portions of credit card debt to be forgiven, a turnabout from recent years when the banking industry lobbied strenuously to make it harder for consumers to erase their credit card debts in bankruptcy.
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Tuesday, June 17, 2008
Pre Paid Credit Cards- Great Idea, or Financial Con? / Personal_Finance / Credit Cards & Scoring
By: Mike_Gracia
Pre paid credit cards are, in a way, like a debit card, in that now actual credit is involved. They differ from debit cards however, because they are accepted pretty much anywhere that accepts the credit card brand (for example, MasterCard)Read full article... Read full article...
Wednesday, June 04, 2008
UK Credit Continues To Get More Expensive / Personal_Finance / Credit Cards & Scoring
By: MoneyFacts
Michelle Slade, analyst at Moneyfacts.co.uk, comments: “With increasing costs on all household bills, many people are relying on their credit card to get by each month. But these people are going to find themselves out of pocket as purchase and cash rates, along with charges, continue to increase.Read full article... Read full article...
Wednesday, April 30, 2008
Instant Decision Credit Cards– A quick fix for bad credit? / Personal_Finance / Credit Cards & Scoring
By: Mike_Gracia
Many people are now aware that opening a new credit card and running the account well is one of the best ways of improving one's credit rating. Those with bad credit that are expecting to get one of the instant decision credit cards however, may be a tad disappointed.Read full article... Read full article...
Thursday, April 17, 2008
OFT credit card default charges– Two years on / ConsumerWatch / Credit Cards & Scoring
By: MoneyFacts
In April 2006 the Office of Fair Trading (OFT) declared that default charges on credit cards were too high and suggested capping these at £12. In the months that followed lenders cut these charges to £12 but in an attempt to recoup lost revenue, they hiked rates and charges elsewhere. Two years on, how much have the rates and charges on credit cards increased?Read full article... Read full article...
Thursday, April 10, 2008
What Are Air Mile Credit Cards? / Personal_Finance / Credit Cards & Scoring
By: Mike_Gracia
As you spend money using your air miles credit card, you accrue points that you can redeem for car hire, flights, or hotels.Read full article... Read full article...
Wednesday, April 09, 2008
Purchase credit card offers– The 10 Must read Tips for getting the best 0% card offers / Personal_Finance / Credit Cards & Scoring
By: Mike_Gracia
0% on purchases … 0% on balance transfers … sounds great – We can't loose can we – Or can we!
We have put together a small list of tips to help consumers get the most from these promotional offers. With this guide, hopefully you will learn how to sieve through the multitude of deals, and get one that's right for you.
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Monday, April 07, 2008
Using Credit Cards Abroad– Avoid Nasty Charges and a Shock on Your Return! / Personal_Finance / Credit Cards & Scoring
By: Mike_Gracia
Having a credit or debit card while on holiday can give you peace of mind, knowing that you are not having to carry large sums of money all the time.
But what about the costs of using your credit cards abroad ? If you do not use your card wisely, you could come home to a shock that turns the normal post holiday blues into a financial nightmare!
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Tuesday, February 19, 2008
Credit Card Balance Transfers – Not What They Used to be / Personal_Finance / Credit Cards & Scoring
By: MoneyFacts
Samantha Owens, Head of Personal Finance at Moneyfacts.co.uk, comments on the 0% balance transfer deals and how this market has changed: “It was way back in 2004 when balance transfer fees first started to raise their ugly heads on 0% credit card deals. However with increasing levels of personal debt, the market for transferring balances has become more competitive, but for the consumer it has become harder to get these deals.Read full article... Read full article...
Thursday, November 15, 2007
How Much Does Your Christmas Shipping On Your Credit Card Really Cost? / Personal_Finance / Credit Cards & Scoring
By: Nationwide
Half of credit card holders do not know the rate they pay
With Christmas around the corner people are getting ready for one of the most expensive and stressful times of the year. A new survey by Nationwide Building Society has revealed that the majority of respondents (55%) still brave busy shopping centres to buy most of their Christmas gifts rather than shopping online. In addition to this the research shows that half (50%) of respondents do not know what rate they pay on the credit card they use most often.
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Tuesday, November 06, 2007
Credit Crunch Causes Credit Card Chaos / Personal_Finance / Credit Cards & Scoring
By: MoneyFacts
A survey carried out by Moneyfacts.co.uk reveals in the last two months credit cards have been hit hard by rising charges, in particular cash withdrawal fees and rates,
- 69 cards have seen increased cash withdrawal fees
- 25 cards now face higher cash withdrawal rates
- 18 cards have been hit by higher foreign usage charges
Thursday, July 26, 2007
Using Your Credit and Debit Cards Abroad Could Cost You a Small Fortune… / ConsumerWatch / Credit Cards & Scoring
By: MoneyFacts
Lisa Taylor, analyst at Moneyfacts.co.uk – the money search engine, comments: “With travellers cheques becoming less popular more of us are opting for the convenience of using our plastic when we jet off on our holidays. However many travellers are unaware of the level of costs associated with using debit and credit cards whilst abroad.
“We take it for granted that using our debit cards is free of charge whilst on home soil, so it’s not surprising that some consumers are shocked when they see how the charges stack up after using their card on holiday. With terms such as retail conversion charge, and foreign usage charge, it can be confusing for travellers to know exactly what types of fees they will be liable for, and how much it’s likely to add to the cost of their trip.
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Thursday, July 12, 2007
Don't Get Burnt with Unnecessary Foreign Credit Card Usage Fees this Summer / Personal_Finance / Credit Cards & Scoring
By: Nationwide
Nationwide reveals holidaymaker's lost £326 million last year : With summer holidays around the corner, millions of holidaymaker's are planning to travel abroad. Despite shopping for the best holiday deal, many people overlook the foreign usage charges imposed by their card provider. Nationwide estimates that travelers wasted over £326 million* in unnecessary foreign loading fees on their credit card whilst abroad last year. The Society therefore urges consumers to pay as much attention when selecting the card they take abroad, as they do in choosing the perfect holiday destination.Read full article... Read full article...
Saturday, June 09, 2007
Tips For Responsible Credit Card Use When You Have Bad Credit / Personal_Finance / Credit Cards & Scoring
By: Submissions
Here are some great tips for responsible credit card use.
If you have several credit cards look into transferring the balances to one or two that have the lowest interest rates and then get rid of the other credit cards. By limiting the number of credit cards that you own you will not have to worry about juggling a repayment schedule that you can't afford to keep up with. Once you have the balances on your remaining credit card under control then try to limit your purchases to things that you really need.
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Thursday, May 31, 2007
Credit card fees: What are you paying for? / Personal_Finance / Credit Cards & Scoring
By: MoneyFacts
Michelle Slade of Moneyfacts.co.uk – the money search engine comments:“Since the OFTs intervention in the credit card market to cap penalty fees, card providers have used numerous rate and fee increases, and have tweaked terms and conditions in an attempt to recoup the lost revenue, with the latest tack being to introduce annual fees.
“Most annual fees recently introduced have the common condition to charge only when the card has low usage, either in terms of the frequency of transactions or their value.
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Wednesday, April 18, 2007
The Aftermath of the OFTs Credit Card Fee Capping Continues… / Personal_Finance / Credit Cards & Scoring
By: MoneyFacts
Michelle Slade, personal finance analyst at moneyfacts.co.uk – the money search engine, comments: “It’s now almost a year since the OFT capped credit card penalty fees at £12, but the repercussions are still rumbling on with little sign of letting up. In the last two weeks alone a further seven providers have increased rates or fees (see table below).
“While other factors, including levels of bad debts will have an impact, it cannot be disputed that the OFTs actions has spread the cost burden to a much wider customer base, with card providers continually seeking ways to recoup this lost revenue.
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Wednesday, April 04, 2007
Easter Holiday Makers are Hopping Mad Over Credit & Debit Card Foreign Exchange Usage Fees / Personal_Finance / Credit Cards & Scoring
By: Nationwide
UK holidaymakers wasted nearly £16 million last Easter
Nationwide Building Society is urging Easter holidaymakers across the country not to make the same mistake as last year by incurring unnecessary charges for using their cards abroad. Last Easter over 15 million* UK holidaymakers travelled to Europe and wasted nearly £16 million** in foreign usage charges on credit and debit cards.
This Easter, people heading abroad for a week of sun or for a city break should make the switch to one of Nationwide’s credit or debit cards, that all offer free card use abroad. Last Easter Nationwide saved its customers almost £1 million*** by not charging them for using their cards abroad.
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Friday, March 30, 2007
A dozen devious credit card cons / Personal_Finance / Credit Cards & Scoring
By: Fool.co.uk
A recent review of UK credit cards by fool.co.uk has identified no less than a dozen devious measures by banks to ensnare unsuspecting customers. These traps are designed not only to heap misery onto people in debt, but are also devised to ambush sensible card users.David Kuo, Head of Personal Finance at fool.co.uk , says: “Credit-card companies are increasingly targeting rate tarts and convenience users. In other words, they are picking on sensible customers who always pay their outstanding credit-card debts in full.
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Thursday, March 22, 2007
Credit card providers still clawing back lost fee income…. / Personal_Finance / Credit Cards & Scoring
By: MoneyFacts
Michelle Slade, personal finance analyst at Moneyfacts.co.uk – THE money search engine, comments: “Almost one year on from the OFTs response to tackle ‘excessive’ default fees, the credit card market still remains unsettled. Battling with rising bad debts, Bank of England rate increases and a huge loss in revenue from the capping of default fees, credit card providers have been forced to look for other ways to maintain their income stream.
“In the last two weeks alone, six credit card providers have made major changes to some or all of their cards. Changes range from interest rate increases, by as much as 10% (on cash transactions), to shortening of interest free deals. If you delve further into the small print of their terms and conditions, cash withdrawal fees and foreign usage charges are rising, but perhaps the sneakiest of all is the requirement to make purchases as part of a 0% balance transfer deal.
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