According to the firm, Britons will spend, on average, £1,228 on their credit cards over the first three months of the year, compared to £730 in 2006. Despite the possibility of severe credit card debt, the figures suggest that cards…
Continue reading the "Credit card spending ‘to grow 68% in three months’" »
Northern Rock and Liverpool Victoria have both raised their APRs to above six per cent following this month’s base rate rise by the Bank of England. The news could spell trouble for consumers seeking to borrow money without landing themselves…
Continue reading the "Lenders dropping out of ‘cheap loans’ market" »
Suman Antcliffe, money adviser at Citizens Advice in Burton upon Trent, told the Observer that he has seen money lent to individuals who have little or no chance in repaying their loans. She said that she has successfully taken several…
Continue reading the "Banks’ lending criteria “appalling”, says expert" »
Users are invited to input their personal expenditures in order to obtain an estimate of how their experience of inflation is different from the official Retail Price Index (RPI). One of the reasons the ONS created the calculator was because…
Continue reading the "ONS invites public to measure personal inflation" »
Ray Boulger, from mortgage adviser John Charcol, said that the Bank of England’s surprise decision to increase the base rate to 5.25 per cent is likely to result in a rise in the number of people falling into arrears. He…
Continue reading the "Financial “comfort zones” hit by rate rises" »
Some insurance providers have already been “referred to enforcement” or heavily fined by the FSA after they were found to be not up to standard. The FSA is keen to remind consumers that loans and PPI products do not have…
Described as “one of the largest” programmes the financial watchdog has undertaken, the work will build on previous programmes conducted in 2005 and 2006. The investigation will include mystery shopping exercises in its aim to ensure sales of the product…
Continue reading the "FSA to investigate debt sales of debt insurance" »
The limit has been raised from £300 to £600 but consumer groups are saying that students should not be able to get credit, especially as some cards charge interest rates of 21.47 per cent. Frances Walker, of the Consumer Credit…
Continue reading the "Barclaycard student offer under fire" »
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