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When getting a new credit cards there are certain things to look for to make sure you get the best deal. 1. Which is most important a low introductory rate or a low AVR?2. How long is the introductory period (can range between 3 and 6 months)3. Do you get points for spending? This is …
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Lloyds TSB announced that credit card owners who do not use their credit cards will be charged £35. The argument is that by threatening to charge them it will encourage the use. Credit cards have set up costs, although it is perhaps hard to justify charging £35. Lloyds TSB recently announced it had made £3.7 …
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Last year the OFT – Office of Fair Trading ruled that late payment charges were illegal. Encouraged by consumer groups consumers have been seeking to reclaim some of the £4.7bn which is estimated to have been taken by the banks in illegal charges last year.
Research by Money Supermarket suggests a missed credit card payment could cost upto £300. It is increasingly popular for consumer to switch their credit card debt between different companies. This is something known as “Rate Tart” – always moving your debt to lowest interest payment. However if you miss a payment you could be automatically …
Just to prove that Banks are becoming increasingly flexible in their attitude to lending. An Australian Cat had the honor of receiving its own credit card. Needless to say Messiah the Cat was very excited about the prospect of buying unlimited stocks of premium Felix cat food… The bank later apologised for issuing a credit …
According to a report by Moneysupermarket, 25% of credit card holders (10 million) have been subject to some penalty on their credit card; usually this is for late payment or going over their credit limit. The OFT investigated Credit card companies last year and decided the penalties were disproportionately high. There is now a limit …
Credit cards which offer 0% interest on balance transfers can be an excellent way of saving money on debt payments. They require careful management because if you miss a payment, you will end up paying Standard rates of upto 18% and also incur a penalty. If you are careful, you can keep transferring a balance …
‘Which?’ has submitted a super-complaint to the Office of Fair Trading (OFT) asking it to investigate excessive credit and debit card surcharges. A super complaint can be made if any market or feature is significantly harming the interest of consumers. The consumer champion believes the price you see is what you should pay. Even in …