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Featured Articles: GEMS of the Week
Category: Credit Cards & Scoring
The news items published under this category are as follows.
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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