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Consumers seek ways to tighten credit [at Financial Times] - Financial Times - Sat 05 Jul, 03:10 AM
Consumers are turning to products that can improve their credit rating or secure credit without a good rating, as lenders clamp down on access to mortgages, loans and credit cards in the UK.

MasterCard settles American Express lawsuit [at Financial Times] - Financial Times - Wed 25 Jun, 08:45 PM
American Express has reached a $1.8bn settlement with MasterCard over a lawsuit that claimed MasterCard, Visa and some of their member banks had blocked financial companies from issuing credit cards through American Express.

Shoppers refuse to end love affair with plastic - Moneywise - Tue 24 Jun, 12:00 PM
A surge in retail spending may have provided some relief from the impact of the credit crunch, but new figures show shoppers are increasingly putting their purchases on plastic - and are failing to pay off their balances. Sales on the high street increased by 3.5% during May, according to the Office for National Statistics, the strongest monthly growth since January 1986. However, the amount of new spending on credit cards increased by £0.5 billion to £7.5 billion, up on the previous six-month average of £7.4 billion. In addition, credit card repayments levels were lower than expected having fallen from a monthly average of £7.6 billion since the start of 2008 to £7.5 billion. The statistics, published by banks through the British Banker's Association (BBA), suggest that the shift in attitude away from spending on credit has not yet fed through to consumer behaviour. If this trend continues, then there is a real risk that people could be storing up financial difficulties for themselves. "The credit crunch is forcing people to tighten their belts and budget cut, but many are not yet prepared to give up their spending habits," says Ricky Bruce, a credit card researcher at Moneyfacts. "Many people, faced with the stark reality of increasing inflation and limited pay rises, may be tempted to limit their outgoings by reverting to the minimum payment on their card. "These can vary dramatically depending on the card used and consumers need to be aware this could greatly increase the amount of additional interest debt they are accruing on their card and could mean the original debt takes an astonishing time to repay." However, many consumers are not in a position to reduce their spending on plastic.

Balance transfer market heats up - Your Money - Mon 16 Jun, 02:05 PM
The 0% balance transfer credit card market is surging ahead, in spite of the credit crunch, with 40 cards now offering such deals. Data from price comparison site Moneysupermarket has revealed there are now 40 credit cards offering 0% balance transfers of 12 months or longer. Virgin, Capital One and Barclaycard have long been regarded as the [...]

Demand for borrowing constrained - Your Money - Wed 23 Apr, 10:21 AM
Annual growth in credit card borrowing increased in March, while growth in loans and overdrafts fell slightly, according to figures from the British Bankers Association (BBA). The figures revealed growth in borrowing on credit cards by UK consumers increased to 6.5% during the month of March, while repayments outstripped new spending showing the growth largely reflects [...]

Brits advised to be card savvy abroad - Your Money - Fri 11 Apr, 09:23 AM
Over four million Brits holidaying in Europe this month will be hit by hefty foreign exchange fees and transaction charges if they dont use the best credit or debit card. Steve Willey, head of credit cards at moneysupermarket.com, said: While the strength of the Euro is of concern to holidaymakers, using the wrong foreign exchange product [...]

Conservative credit card attack missed the point - Your Money - Tue 11 Mar, 11:53 AM
Shadow business secretary Alan Duncan has missed the point in criticising credit card providers over 0% deals, according to Moneysupermarket. The financial comparison site released a statement today criticising a recent attack of 0% credit card deals by Duncan in an interview with the Financial Times. Steve Willey, head of credit cards at Moneysupermarket, said: Shadow [...]

Consumers continue to apply for cards - Your Money - Tue 04 Mar, 11:16 AM
More than 3.2 million UK adults own five or more credit cards, according to the latest research from financial comparison site Money Expert. Credit card borrowing continued to grow last year, with 28% of UK consumers applying for more plastic, MoneyExpert has revealed. Around 21% of people applied for one more card in 2007, while another [...]

Billions to be transferred between cards by summer - Your Money - Tue 26 Feb, 12:21 PM
Sainsburys Finance has revealed that 4.3 million people intend to transfer a total of £6.7bn between credit cards before July, which equates to £257.2m per week. The findings also highlight that there are more than one in three credit card holders who are currently paying interest on their credit card balances. Donald MacLeod, head of cards at [...]

Capped credit cards on the wane - Your Money - Mon 25 Feb, 10:53 AM
The number of credit cards with capped balance transfer fees is dwindling dramatically, according to MoneyExpert.com. The independent financial comparison website says that a year ago consumers could choose from 18 different credit cards with capped balance transfer fees, whereas now that number has dropped to just seven offered by only five different providers. And with the [...]

FEATURE: Plastic power 05:26 PM [ Your Money]
Borrowers missing the best deals 12:00 PM [ Moneywise]
OFT publishes credit card report 02:37 PM [ Your Money]
Households could save hundreds by using comparison sites 11:00 AM [ Your Money]
More Brits utilising comparison facilities 10:38 AM [ Your Money]