Credit Card Articles and News
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• Credit card rates 'will continue to rise'
  Interest rates on credit cards are set to rise during the course of 2008, according to one expert. Samantha Owens, head of personal finance at Moneyfacts, states that although some providers may produce the odd low deal, "rates are going to continue to creep up".The head of personal finance states that this trend has been prompted by the recent credit crunch. "Obviously [credit card providers] have to bring the money
• Brits swap £9m in credit card debt
  British credit card holders are planning a frenzied period of activity as they move up to £9 billion worth of funds to new cards in the new year.Research from Abbey Credit Cards indicates that cardholders will be shifting an average of £2,666 in the first quarter of 2008, with more than three million British credit cardholders set to shift balances.Men and women were seen as equally likely to swap, but
• Credit card users have extra purchase protection
  Of all the Christmas shoppers who will stream back to the shops after New Year to ask for refunds on goods, credit card holders will have the most protection, one financial services provider has suggested.Halifax has reminded shoppers that those who paid for their Christmas gifts using plastic will be able to retrieve a refund from their issuer should the store they bought an item from refuse.Halifax's head of credit
• Borrowers urged to use common sense
  People should exercise common sense when using credit cards at Christmas, one debt organisation has advised.Consumers must avoid spending more than they can afford to over the festive season, said James Ketchell from the Consumer Credit Counselling Service (CCCS).He explained that Britons "traditionally" spend a lot of money on credit cards over Christmas, but added that it is important to take stock of finances before going shopping."We need to make
• Festive dash to return replica presents
  The busiest days for returning unwanted Christmas presents are December 28th and 29th, according to new research from credit card provider Halifax.Shopkeepers carry out 29 per cent more refunds on credit cards in December than they do in any other month, with the average unwanted gift costing £55.The amount of money refunded in January tops the scale, with the average amount put back on credit cards £60 for the month.Ken
• Balance transfers 'can help with festive debt'
  Debt accrued on credit cards over the Christmas period can be eased by balance transfers, according to one expert.James Falla, director of debt counselling service Thomas Charles, said that moving money from one credit card to another can make it easier to pay off outstanding balances.However, he warned: "You must make sure that you cancel the previous card and cut it up so you don't have the temptation to use
• Beware fraudsters at Christmas
  Borrowers should keep an eye on their finances over Christmas as it can be a key time for fraudsters, according to new advice.Neil Munroe, external affairs director at credit reference agency Equifax, has said that people cannot afford to be lax with financial details over the festive season.The expert explained that shopping receipts contain debit and credit card details and can easily be used by fraudsters to hack into bank
• Millions to be spent in Xmas Eve rush
  Brits are set to pull out the plastic in their numbers today (Monday, December 24th), taking the last opportunity before Christmas to buy gifts for friends and family.Research from Sainsbury's Bank suggests that £380.9 million will be spent on credit cards on the day before Christmas.Figures show that over 19 million people will do some last-minute shopping on Christmas Eve and an estimated 18 per cent of all goods purchased
• Customers must 'shop around for cards'
  It is essential that Brits shop around for their credit card and don't simply sign up for the first offer to come their way, it has been suggested.Moneyextra has advised that it is foolish not to compare a few deals before settling on one card.Robin Amlot, senior editor at Money Extra, commented: "I would always advise people to shop around and look for the best deals for themselves because if
• Brits are last-minute shopping with cards
  Millions of Brits have left their Christmas shopping to the last minute, with many paying with plastic, new research shows.A study by Sainsbury's Bank has found that £2.11 billion of festive shopping in the period running up to December 25th will be paid for on credit cards - 18 per cent of the £11.85 billion which is expected to be spent in the week up to Christmas.Figures suggest that 8.6
• Card holders given 'emergency cash' option
  Card holders finding themselves in the unfortunate position of having lost their card are being offered the handy option of emergency cash by one provider.Natwest and the Royal Bank of Scotland (RBS) have teamed up to launch a service which allows customers to access funds in the case of their cards being lost or stolen.Users of the new emergency cash service will be able to withdraw cash up to £300,
• Card companies should provide examples, says debt expert
  Banks and card companies should give customers examples of what they are paying on their credit card bills, according to a representative of one debt counselling service.James Falla, director of Thomas Charles, supported the idea of market regulators asking companies to "clearly print" the examples for card holders to avoid confusion on items such as interest rates.Mr Falla explained: "Particularly with cards that do have high interest rates, they should
• Card holders with credit problems often overlook interest rate
  Many of those who develop credit problems are overlooking the interest rates on the cards which they sign up for, according to one debt counselling service.Thomas Charles & Co has highlighted the lack of knowledge that some card holders demonstrate about the product they are using.The firm's director, James Falla, said that there are some Brits who don't even know what they are paying in interest on they are paying
• 'Panic buying a no-no'
  Panic buying on credit at Christmas is one of the bad decisions that Brits can take, risking leaving them with a financial hangover in the New Year, according to one credit reference agency.Callcredit has also advised shopping around but not overspending on bargain specials.Using all the same passwords and pin numbers online is also a bad idea, says the group, as lax attitude could leave one open to becoming an
• Store card holders paying the penalty
  Store cards are costing the British consumer nearly £900 million more in interest than credit cards, according to new research.A study by uSwitch has determined that using store cards stacks up an additional £892 million of interest in total and have an average APR of 26 per cent, compared to credit cards' 16 per cent.Also, figures show that the amount spent on store cards has now reached £2.17 billion.Mike Naylor,
• Repaying your credit card
  Many people have become reliant on credit cards over recent years, and this is partly due to the convenience and ease that credit cards offer. However, credit cards have become more and more popular over the years, with many cards offering a wide range of benefits, ranging from interest free credit to rewards and discounts. Credit cards can be very useful and beneficial if used and repaid responsibly, but it
• Is a personal loan better than a credit card?
  There are many different types of finance available these days to con