Credit Card And Related News For May 2006 -

Welcome to the latest news concerning UK credit cards and other related topics for the month of May 2006

• Motorists Hit in Credit Card Scam [31.05.06]
  IN November 2005 over a hundred motorists using a Solihull petrol station were victims of a credit card scam involving tens of thousands of pounds, it has been revealed.
• BMW To Move Into UK Financial Markets [30.05.06]
  UK credit card and insurance companies face fresh competition in their markets as German car-manufacturer, BMW, has decided to enter the mainstream financial markets by offering credit cards, savings and insurance products.
• American Express Apologise for ‘Typing Error’ [26.05.06]
  Red- faced American express bosses have been forced to apologise to thousands of customers after a marketing error resulted in them being offered a 0% balance transfer rate for life.
• The Credit Card Loyalty Scheme Rip-Off [24.05.06]
  Financial experts warned UK credit cardholders today that credit cards, which offer loyalty schemes, may not be that great.
• UK Consumers Use Plastic For Everyday Purchases [ 23.05.06 ]
  More and more British consumers use their credit cards for everyday transactions as they seek to take advantage of the plethora of cashback and zero per cent introductory deals on offer.
• OFT Lets Banks Off the Hook [ 19.05.06 ]
  The Office of Fair Trading has said it has no immediate plans to impose limits on overdraft charges despite its earlier report, which said that high credit card charges were unlawful.
• APACS Re-launches Credit Card Advice Website [ 17.05.06 ]
  The UK payments association, APACS, has launched an updated version of its website choosingandusing.com.
• Overseas Card Fraud On the Rise [ 15.05.06 ]
  According to Lloyds TSB, the number of fraudulent withdrawals from foreign ATM’s is on the increase. The bank says that countries where Chip-and-Pin has not yet been introduced are experiencing a rise in cash withdrawals by fraudsters using cloned debit and credit cards.
• Chip & Pin Vulnerable to Fraud [ 12.05.06 ]
  Despite being introduced in the UK to combat credit card fraud, Chip-and-Pin is increasingly vulnerable to the card fraudsters, according to a leading expert.
• Supermarket Credit Cards Not All They Seem [ 10.05.06 ]
  Taking out a supermarket credit card may, in the end, prove to be a false economy, that’s according to new research from comparison site Moneynet.co.uk.
• 5.8m Planning on Credit Card Balance Transfers [ 09.05.06 ]
  A report from Capital One reveals that 5.8m credit cardholders in the UK plan on transferring £11.9bn between credit cards in the next six months.
• Millions of Over-50’s Overdrawn at the Bank [ 09.05.06 ]
  New data from online comparison site, uSwitch.com, has revealed that the UK’s over-50s are £2.7bn overdrawn on their current accounts, showing that it’s not just the nation’s youth who are prepared to live with debt.
• Taxes and Personal Debt Put Strain on Household Incomes [ 08.05.06 ]
  This week will see Gordon Brown finally admitting that rising taxes in the UK are resulting in take-home pay struggling to keep pace with inflation.
• Pre-pay Card Could Be Best Option For Hols [ 05.05.06 ]
  Using your plastic on those foreign holidays can often lead to the post-holiday blues once the credit card statement land on the door mat.
• Credit Card And Banking Scam Nets £900,000 [ 05.05.06 ]
  A scam involving some employees in shops, restaurants, service stations and bank, has netted the fraudsters almost £1m.
• Banks Under Pressure As Complaints Soar [ 04.05.06 ]
  UK banks are under scrutiny, as it emerged that complaints about high-street bank rose by 50% last year, according to the Banking Code Standards Board (BCSB).
• Borrowers Warned Against Expensive Insurance Policies [ 03.05.06 ]
  Online data comparison service Moneynet, has warned UK borrowers to avoid the pitfalls of expensive payment protection insurance (PPI) when taking out a personal loan.
• Improvement In Early Detection Of ID Fraud Announced [ 02.05.06 ]
  According to figures released by CIFAS (the UK’s fraud prevention service), early detection of ID fraud has increased, thus thwarting fraudsters at an early stage.
• 2,000 Credit Card Details Stolen [ 01.05.06 ]
  A security breach in a UK store has led to MasterCard investigating the theft of 2,000 customers credit card details.