Credit card defaults result in losses for American Express
Financial giant American Express reported recently that an increase in credit card defaults had resulted in a 6% decline in its first quarter profits.
Officials stated that there had been a rise in the number of people failing to make repayments on their cards, and this had impacted significantly on its losses for the first quarter. [...]
Consumers can enjoy benefits of Abbey credit card
With the global credit crunch still taking its toll in the UK money markets, and with household finances still very strained, many consumers may be looking for a more affordable credit card deal.
The Abbey has now launched a new credit card that offers borrowers a host of money saving benefits, which could help those looking [...]
Pre-paid debit card for under 18s welcomed
A new prepaid debit card for the under eighteens has been welcomed by industry officials, as it comes with a proof of age element that will enable cardholders to enjoy cashless spending without the risk of them using the cards to purchase age restricted items such as alcohol or cigarettes.
The card, called the UreLife card, [...]
Credit card difficulties could impact on mortgage repayments
According to one industry official the difficulties that many consumers may now be facing in securing a more affordable deal on their credit card could eventually impact on their ability to meet other financial obligations, which in some cases could include their mortgage.
The global credit crunch has taken its toll in all finance areas, including [...]
Credit card spending rises as households try and keep on top of payments
According to a recent report there has been a sharp rise in credit card spending, much of which has been attributed to households having to rely on credit in order to meet their day to day expenses or pay their bills.
Consumers in the UK have had to put up with a number of payment increases [...]