Credit Card And Related News For August 2006 -

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

• No Rise In Credit Card Interest Rates to Claw Back Lost Revenue [28.08.06]
  A rise in credit card interest rates has failed to materialise despite consumer fears that credit card customers would have to pay for lost revenue from lower penalty charges though higher interest rates.
• Barclays and Argos Agree To Sign Up For New 50/50 Credit Card [25.08.06]
  Jumping on the bandwagon of UK credit cards with well-known store outlet associations, Argos Retails Group have announced that they have signed up with Barclays Bank Plc to create the new Argos credit card.
• Britain’s Baby-Boomers Face Massive Credit Card Bills [24.08.06]
  If you’ve been following the recent British media coverage expelling the virtues and hardships of Britain’s baby-boomers, you’ll no doubt have seen and read a number of very interesting stories.
• HSBC Double Introductory Balance Transfer Deal [24.08.06]
  After a string of bad news reporting, from the increased base rate interest rates recently announce by the Bank of England to possible charges on current accounts, many UK credit cards were expecting to see some kind of fall-out from the recent investigation and findings of the Office of Fair Trading demanding that UK credit card companies scale-back on their fees and interest rate charges.
• Banks Profit From Customers to the Tune Of £112 [23.08.06]
  Despite being heavily criticised by the Office of Fair Trading for excessive credit card charges, the UK’s ‘Big Five’ banks will make a £112 profit from their customers this year.
• 70% of Britons Prefer To Use Cashback Credit Cards [22.08.06]
  A recent report issued by Morgan Stanley Credit Card throws up some very interesting reading on the spending habits of UK credit card users. One the one hand, each of us averages 1.2 credit cards in our wallets and purses.
• 1 in 10 Brits Are Using The Wrong Credit Card [21.08.06]
  Four us Brits there’s no such thing greater than brand-loyalty. Ordinarily we’ll stick to a brand we know and love. Nothing changes when it comes to our choice of credit card.
• Debt Is The Reality of Student Life Today [17.08.06]
  There was a time, not too long ago, when a university student’s life was a carefree one. Here, unless the student comes from a low-income family earning less than £17,500 a year will be costing as much as £3,000 a year.
• 1 in 10 Brits Are Victims Of Identity Fraud [11.08.06]
  Recent survey figures released by Npower show that 1 in 10 Brits are the victim of identity fraud. However, take-away the number of children in the UK, and this figure is likely to be higher, because 6 million Britons have now been the victim of an identity fraud.
• 8 Out Of 10 Britons Have No Idea What A Credit Rating Is [10.08.06]
  Given the importance that credit ratings play in determining whether or not your application for a loan, home loan or credit card in UK will be successful, it is somewhat suprising to hear that according to a new report out by Npower, 8 out of every Brits doesn’t even know what a credit rating is.
• Spiraling UK Credit Card Debt Affecting Divorce Rates [09.08.06]
  According to a new report recently published by Debt Free Direct, debt that is acquired in the joint name of your partner now accounts for 28% of all personal bankruptcies in the UK.
• Internet Gambling Sites Spark Rise In UK Credit Card Fraud [09.08.06]
  Just when UK credit card issuers thought that they had started to win the battle against credit card fraud a new menace arrives to plague them – internet gambling sites.
• Overseas Spending On Your UK Credit Card Just Got Cheaper [08.08.06]
  There’ll likely be many of us sitting around the office moaning and complaining about how the Bank of England’s surprise move to increase the base lending rate is going to cost us a fortune.
• Massive Profits Meets Record Levels of UK Credit Card Debt Provisions [05.08.06]
  Who says that running a UK credit card company is not a profitable business? Who argues that the risks associated with right-off for bad credit credit card users makes the business of credit card a risky one?
• Attorney General Says Britain Is Not Doing Enough To Combat Internet Fraud [03.08.06]
  With more than 50% of Britons now making a credit card purchase on the Internet, the Attorney General, Lord Goldsmith, recently criticised British authorities for failing to help tackle the growing problem of Internet fraud.
• British Holidaymakers Shun Credit Cards Overseas [03.08.06]
  According to the Post Office, an estimated £34 billion will be spent overseas by British holidaymakers this year. With budget airlines offering discounted flights to almost anywhere in the World, more and more of us will venture further away from home this year as well.
• Online Credit Card Use Reaches New Record High [02.08.06]
  It’s official, the phenomenon known as the Internet has finally caught up with UK shoppers. In the past year, UK credit cardholders have collectively spent over £22 billion online, which is an astonishing £6 billion more than we spent online in 2004.