tag:blogger.com,1999:blog-110177022008-06-04T18:31:27.843+01:00Quotesnoreply@blogger.comBlogger139125tag:blogger.com,1999:blog-11017702.post-72558155385483013342008-06-01T08:33:00.000+01:002008-06-04T18:29:53.810+01:00

Why should dealers tell you what you can and can't charge to your credit card? Cars represent a jackpot of credit rewards that every consumer is entitled to collect. There's nothing stopping from charging your new car straight to your credit card, if you storm the dealership armed with the right tools... Dealerships loathe credit cards for two obvious reasons: Fees: The 2% transaction fees

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-19606827394688136412008-03-17T00:00:00.000Z2008-03-17T21:08:46.914Z

The UK’s watchdog, the Office of Fair Trading has recently announced that it will be launching a credit card comparison website to help consumers to avoid the pitfalls of credit cards that use confusing financial jargon and end up costing the consumer more in interest and charges. The watchdog has expressed concern over how consumers are paying an additional £400 million to credit card companies

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-31784801013011457102008-03-03T00:00:00.002Z2008-03-03T16:35:05.333Z

Credit card customers have been left seething over recent weeks, as the result of a crafty move made by a number of credit card providers in a bid to cull credit card limits. A number of credit card firms have slashed the credit limit on customers’ cards to just £100 over their existing outstanding balance, and they have done this without first informing the consumer, leaving many feeling

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-54614614284596660172008-03-03T00:00:00.001Z2008-03-03T16:34:00.961Z

The MP who has led the fight for a better deal for financial services consumers admits he does not own a credit card. John McFall, chairman of the Treasury select committee, was fed up being hassled by his card company to take out payment protection insurance. So he followed the advice of Matt Barrett, former chief executive of Barclay's Bank, who told Mr McFall's committee in 2003 he would not

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-71866094784823587292008-02-25T02:50:00.001Z2008-02-25T16:16:23.733Z

US congressman Mark Udall thinks so; he has just presented legislation to the US Senate that out-lines his version of a "Credit Card Bill of Rights". The gist of the bill is to force credit card companies to send notice of a rate increase prior to raising your rates. However, should congressman Udall get his bill through the Senate as penned it will wipe out a lot of the fine print we see on

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-6638492886098204502008-02-22T00:00:00.000Z2008-02-28T09:59:30.895Z

The Office of Fair Trading (OFT) reckons that credit card companies are taking £400m a year from customers by confusing them with small-print jargon and unfair charges. It means that many people pay more for their cards than they need to. The OFT has unveiled a regime to help keep people clear of unfair cards, creating a price comparison website, and ‘honesty box’ on statements and marketing

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-26535642649736966872008-02-14T00:00:00.000Z2008-02-15T15:30:13.888Z

Nationwide Building Society has received an award for "Most Responsible Credit Card Lending Practices" at this year's prestigious Card Awards, held at the Grosvenor House Hotel, London in January. The Society was recognised for its transparency and clarity of credit card information, for its positive order of payments and for providing fee-free card use abroad. As a responsible lender,

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-70270981981277745632008-02-11T00:00:00.004Z2008-02-15T15:39:51.899Z

The Office of Fair Trading (OFT) has warned High Street banks that their credit card terms and conditions are confusing consumers. It estimates that undetected terms and conditions contained in small-print are costing cardholders £400 million a year and the watchdog is now demanding that providers include an “honesty box” on statements and marketing material. This will provide a clear method of

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-6654974020214158962008-02-11T00:00:00.002Z2008-02-15T15:37:11.355Z

The OFT has published its report into credit card comparisons, which makes a series of recommendations to help consumers choose a credit card. Download a copy of the report from the OFT website : www.oft.gov.uk. The report follows a super-complaint from Which? that highlighted that consumers choose credit cards without understanding all the issues that affect the cost of the card. OFT research

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-65193856922481775242008-02-11T00:00:00.000Z2008-02-15T15:33:19.760Z

Credit card bosses are grabbing £400m a year by confusing customers, says the Office of Fair Trading. The watchdog warned that small-print jargon and unfair charges mean many people pay more than necessary for their cards. Today it unveils a regime created to steer people away from rip-off cards. It will set up a price comparison website, an 'honesty box' on statements and marketing material

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-83419124305044016262007-11-25T12:00:00.000Z2007-11-26T10:40:23.024Z

It's so tempting at this time of year, with all those Christmas prezzies to buy, to put it all on your card and worry about paying for it later. But shoppers using store cards are being warned they could end up with a painful debt hangover come the New Year. Research by the website MoneyExpert.com shows that, in spite of recent action by financial watchdogs, store cards are still charging

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-30374067709315209452007-11-19T12:00:00.000Z2007-11-20T09:58:14.893Z

Over 22.5 million consumers (50%) have been sent credit card cheques making the industry a lucrative £660 million a year, according to new research from uSwitch.com. The DTI (BERR) published its findings on the state of regulation of credit card cheques back in September 2006, this resulted in the introduction of a compulsory summary box aimed at explaining associated fees and charges. In

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-42366502073208502042007-11-12T12:00:00.000Z2007-11-13T10:14:32.112Z

House of Lords Published November 12, 2007 Office of Fair Trading v Lloyds TSB Bank plc and Others Before Lord Hoffmann, Lord Hope of Craighead, Lord Walker of Gestingthorpe, Lord Brown of Eaton under Heywood and Lord Mance Speeches October 31, 2007 The right of consumers to hold United Kingdom credit card companies liable for a breach of contract by the retailer from whom they made a credit

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-67123350700962056242007-10-29T12:00:00.000Z2007-10-29T22:44:13.287Z

With 12 months to go before regulation forces credit card providers to draw attention to the order of payments they use, Nationwide Building Society urges them not to delay, and provide the clarity consumers need now. Nationwide has campaigned for many years for increased transparency on credit cards. The Society welcomed the announcement made in April by the Department for Business, Enterprise

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-43551962476577443602007-08-28T22:58:00.000+01:002007-08-29T09:55:56.000+01:00

Credit card companies have raised numerous charges for using their cards in the past year, according to the consumers' association Which? It says that since the Office of Fair Trading ordered a cut in default fees to £12 last year, "ingenious methods" had been used to recoup the income. Which? lists 10 changes, including the introduction of low-usage fees. But the banking industry denied it had

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-17858484538527585962007-04-30T23:26:00.000+01:002007-05-01T11:21:23.119+01:00

Many shoppers who use UK store cards to buy goods will now be told on their account statement that they can get a better deal elsewhere. The warning will apply to store cards which charge an Annual Percentage Rate (APR) of more than 25%. About two thirds of store cards offered in the UK breach the 25% threshold and will trigger a warning. The move to include the warning follows a Competition

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-61622781167261677932007-04-30T00:00:00.000+01:002007-05-01T11:23:19.099+01:00

Customers holding credit cards with Royal Bank of Scotland (LSE: RBS; NYSE: BRS PRM) will now be charged if they neglect to tell their bank within 60 days of changing their address. Those cardholders who let two statement cycles go by without notifying the bank of their change of address will be charged £12. The new charge is just one of several new fees introduced since the Office of Fair

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-1175586046638805872007-04-02T00:00:00.001+01:002007-04-03T08:58:47.366+01:00

Credit card companies' use of up to a dozen different ways of charging interest is earning them more money at the expense of confused customers, according to an industry watchdog. Which?, a consumer group which has the powers to make a 'super-complaint' that requires action by the Office of Fair Trading (OFT), has requested an investigation into how credit card companies calculate interest.

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-1175587003723667322007-04-02T00:00:00.000+01:002007-04-03T08:56:43.733+01:00

Commenting on the demands by the consumer organisation Which? that the Office of Fair Trading needs to investigate the way credit cards charge interest, Liberal Democrat Shadow Chancellor, Vince Cable MP said: "The credit card companies were told by the Office of Fair Trading several years ago that they must demonstrate their charges in a much more transparent and consistent way. "Credit card

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-1172231675069787572007-02-23T09:52:00.000Z2007-02-23T11:54:35.106Z

Lloyds TSB is to impose a £35 annual charge on credit card account holders who do not use their cards. The annual charge will apply to "low-usage" customers; including people who do not use their cards at all. The bank has written to 50,000 customers to tell them that the charge will be levied on their accounts 30 days from the date of the letter. On Friday, Lloyds TSB reported full-year

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-1170200938549400732007-01-30T00:00:00.000Z2007-01-30T23:48:58.560Z

Which? has welcomed a call from one of the UK’s largest property sellers for estate agents to be subject to compulsory licensing. Halifax Estate Agents says ministers need to go further than the changes set to be introduced in the Consumers, Estate Agents and Redress Bill. Under the Bill - which will be discussed today in the House of Lords - estate agents will be required to sign up to an

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-1169645429971748842007-01-09T00:00:00.000Z2007-01-24T13:31:36.846Z

This is a tale of two solicitations for credit cards with no annual fee. The lesson to be learned: Surprises may lurk in all. One credit card offer, from Bank of America, is riddled with fees and catches. Our other credit-card solicitation, from Capital One, appears to be a "no-hassle" deal. A chief drawback to the Bank of America offer: You don't even know whether your interest rate will be

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-1164100107032361492006-11-20T00:00:00.000Z2006-11-21T09:08:27.143Z

Credit card providers are poised to hit "problem" customers with higher interest rates as they attempt to protect their profit margins, a new report has warned. Defaqto, the financial services research company, says persistently late payers face higher interest rates and card providers are likely to introduce annual fees after the Office of Fair Trading's decision to cap card charges at £12

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-1157453577960541052006-09-04T13:56:00.000+01:002007-01-30T12:50:49.050Z

By Jennifer Hill LONDON (Reuters) - A UK banking giant is set to scrap expensive credit card cheques, leading to calls for other lenders to follow suit. The Royal Bank of Scotland, Europe's second largest bank and the world's fifth biggest, will withdraw credit card cheques at the end of September. It is the first to do so since the Department of Trade and Industry opened a consultation on

Quotesnoreply@blogger.comtag:blogger.com,1999:blog-11017702.post-1157453712553329202006-09-04T00:00:00.000+01:002006-09-05T11:55:12.553+01:00

By Peter Kenny Royal Bank of Scotland withdraw credit card chequesThe Royal Bank of Scotland has announced they will withdraw all credit card cheques. Many financial experts have increasingly condemned credit card cheques while the government has already launched an inquiry into their use, with a decision due soon. Cardholders are sent credit card cheques, which are very often unsolicited. The

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