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Many store card providers have put up the cost of borrowing on their cards, despite the fact that watchdogs are criticising them over high charges and that they are already charging some of the highest rates in the industry.
Many consumer lobby groups are now taking the opportunity in the midst of the credit crunch to […]

Economists are doubtful that the Bank of England will cut the base rate in July after leaving it standing at 5% when the committee met earlier this month.
Reuters news agency took a poll of what economists were predicting would happen with interest rates and the majority are expecting rates to be held following the next […]

Is the humble credit card finally falling from favour amongst shoppers and retailers?  It would seem so, according to news out by the British Retail Consortium (BRC) and the European Retail Round Table (ERRT), a body which represents large retailers.
Since the Office of Fair Trading (OFT) brought in its ruling on ‘unfair charges’ for default […]

Barclays have come under criticism from debt charity Credit Action for planning to release a new trial version of a credit card which would allow borrowers to have a credit limit of £25,000.
The card is called the ‘Freedom’ credit card and is promoted with the catch phrase: ‘If is see something I want, I need […]

More and more of us are borrowing an increasing amount of money against the value of our homes, according to research from the Bank of England. In official language this is known as mortgage equity withdrawal.
The amount of mortgage equity withdrawal amounted to £49.7bn for 2007 and that was up from £36.6bn in the previous […]

According to research by Apac, Britons have spent more using debit cards than cash last year, with cheques becoming almost obsolete as plastic gains ground.  With the updated technology and convenience that plastic cards offer many people are now turning to debit cards instead of cash.
One can argue why cards are better than cash.  For […]

According to a new survey published by the Daily Mail, HSBC has some of the best offers on the market when it comes to certain financial products. However, when you look at some of the other products used in the comparison, they are the worst on the market. It is pretty much the same story […]

Five successive interest rate rises over the past year and the turmoil of the financial markets over the past two months has followed through onto high street and is now beginning to hit us as borrowers.
Northern Rock which has been the UK’s poorest performing bank stock this year has raised interest charges on its fixed-rate […]

One of the best ways to keep the cost of Christmas down is by buying and saving money as early as possible.  Saving a couple hundred pounds between Summer and Christmas can make the difference between enjoying a great holiday, and January, or spending a few months struggling under the burden of debt on credit […]

Millions of credit card owners do not realize that they will remain in debt for 30 years, at 25% or higher interest rates, paying more than 10 times their original purchase value, all because they only make the minimum payments each month.
Website uSwitch.com states:
“Consumers could now finish repaying their mortgage before their credit card, despite […]