Credit Card News

This section of Smart Credit Cards has been solely dedicated to providing some of the latest credit card news on topic with the UK credit card market. The latest additions are added to the top of the page, but please feel free to browse any topics of credit card news that is of interest to you.

• Nectar Switch Cards - One of the most popular loyalty schemes for UK consumers is switching their credit card form Barclaycard to American Express. The switch is due to happen in September, offering a better deal to consumers who want to collect nectar points.
• APR Of Store Cards Deemed Too High - It has been highlighted recently by the Competition Commission (CC) that store cards are too expensive. The high interest on credit is the main reason for consumers being overcharged on store cards.
• Cheques Becoming Less Popular - The good old traditional cheque is said to be on the way out as the use of cheques have dropped from 4 billion used in the UK in 1990 to only 2.1 billion last year. It is estimated that in the next ten years the amount issued will drop even further to 1.2 billion, it may even drop faster than this estimate.
• Online Spending Trends - In the UK credit cards dominate the type of spending when purchasing on the internet. Debit cards are more popular in shops and restaurants but when it comes to online shopping, credit cards are the preferred choice.
• Prepaid Credit Cards Coming to UK - How does this sound? You pop down to the shops as normal and buy a prepay card for your mobile phone, nothing different or surprising there then, but what if you added prepaying into your credit card so that you can keep an eye on and keep a check of your spending?
• Slowdown In Credit Card Spending - The word on the high street is we are spending less on our credit cards and starting to pay off our credit card debt. There has been a rise in the number of people applying for bank loans indicating that we are starting to pay off our credit card bills and looking to pay off our debt in a less expensive way, in the form of a bank loan.
• Security Top of Credit Card Shopping List - UK credit card consumers are now more likely to shop around for the best credit card concerning their security features. Security features on credit cards is just as important when choosing a credit card as the amount of interest charged a research study has found.
• CitiCards Launches New Service For ID Theft Victims - Citi Cards have given their credit card customers a service to help reclaim their credit rating and reputable name after they have been a victim of identity theft.
• Debit Cards Vs Credit Cards - The launch and rise in popularity of debit cards has offered many consumers greater convenience and the added reassurance of not needing to remember how many cheques they have written and when they will be taken out of their account
• The Price Of Credit Card Versatility - Credit cards are a wonderful thing. We can buy what we want when we want. Credit cards are not only practical but convenient too. There are over 20 million UK credit cards in circulation and we are doing our best at spending on them.
• CHIP & PIN
  It has been revealed that more than half of all UK credit card and debit card holders have not yet received their new chip & pin cards. The cards officially came into use at the beginning of the year so why are the majority of card holders still waiting to receive their chip & pin cards?
• Bad Credit Applicants Means Losses For Credit Card Companies
  The credit card market has seen stiff competition recently; lenders are competing with each other to get more consumers to use their products in the hope to increase their profits.
• INTRODUCTION OF CREDIT CARD SUMMARY BOX
  The introduction of summary boxes on credit card statements has been given the thumbs up from consumers with two thirds of credit card holders in favor of including them on their monthly statement. This will help determine the best UK credit cards available for the individual. Some companies, however, seem reluctant to include this on their statements.
• New Website From Apacs
  APACS which stands for ‘Association for Payment Clearing Services’ has set up a new website for consumers who are interested in the UK credit card industry. They offer advice and helpful information on UK credit cards. APACS was founded in 1985 and is the leading industry body on topics related to cash, plastic cards, card fraud, cheques and electronic payments.
• Buy Online - Is It Safe?
  With 20 million UK consumers buying from online services how good is on-line security and are people unwittingly opening themselves up to all kinds of on-line fraud?
• Latest UK Financial Offers
  various new credit card releases that are now available in the UK. There are offers from Barclaycard, American Express and more..
• Cash Back Credit Card That Pays Your Mortgage
  The Yorkshire Building Society has just launched a new credit card into the market offering cashback on goods purchased to put towards paying off your mortgage.
• Could Major Security Breach Happen in UK
  With the news of a major security breach on credit cards at present in the US what does it mean for the UK? Could this type of credit card fraud happen here?
• Holidays With Your Credit Card
  Going on holiday and planning to use your credit card because you may think that it is more convenient than traveler’s cheques or obtaining foreign currency? You may want to think again as last year when abroad we spent £30 billion on charges occurred using our credit cards.
• Ethical Coop Bank Oxfam Credit Card
  The expanding credit card market has seen many different innovations by companies to try and entice customers to use their credit cards. From different types of credit cards and special offers on the cards themselves to credit cards with your football teams logo on and those that offer air miles or otherwise tie in with reward schemes.
• UK’s youth favour credit over saving
  Research published this week shows that young Britons have a ‘flippant’ attitude regarding personal debt and have no interest in the traditional approach of saving for the future
• High street sales hit by April slowdown
  UK retail sales have slumped by their biggest amount in a decade during April, according to The British Retail Consortium.This is in stark contrast to the rising number of personal loans and credit cards being issued.
• Lloyds to charge an extra pound on overseas purchases
  Lloyds TSB will soon charge an extra £1 every time their current-account customers use their debit cards abroad.
• Confusion Over APR
  While consumers will naturally look for a credit card with the best APR rate as part of the process of deciding the best credit card deal for you this is not necessarily the only indicator in your interest repayments
• Customers coin in up to £1bn from 0% balance transfers
  Consumers are raking in £1bn a year from UK credit card issuers by taking advantage zero per cent balance transfers, a recent report has found.
• Shop Around for Credit Cards Deals
  One thing that we all wish we could manage to do is save money, especially on things such as credit cards, loans, insurance and mortgages. Well if you are willing to take some time out and search for the best deals on the market, then savings are there to be had.
• 0% Balance Transfers, days numbered?
  A breed of financially savvy consumers known as ‘rate tarts’, who continually switch between 0% UK credit card deals, may end up being responsible for the demise of these offers.
• Which reveals the hidden costs of credit cards
  Credit card companies are boosting profits through "dubious" sales practices and "unjustifiably" high charges, Which? has reported.The consumer watchdog has calculated that credit card companies make over £400 million a year charging customers who pay bills late or exceed credit limits
• Credit Cards Overtake Cash Purchases
  The value of payments on plastic topped those of notes and coins for the first time yesterday, heralding the advent of the cashless 'chip and pin' society. Leading banks put the historic moment at 10.38am, the time when the total spent using credit and debit cards in 2004 hit £269billion.