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Consumer credit down, but mortgage lending up in November: BoE
LONDON - Consumer reluctance to borrow money is at the lowest level in 11 years, but the mortgage lending market is shaping up nicely towards the New Year, official figures released by the Bank of England confirmed.
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Sun, 08 Jan 2006 14:00 GMT |
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Store cards will have to carry warning on interest rates
Britain's Competition Commission is intending to initiate action against the exorbitantly high rates of interest charged by store card providers. The regulator said it will make it mandatory for the card providers to give clearer warnings to borrowers about the rates of interest and other charges they levy.
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Thu, 22 Dec 2005 14:15 GMT |
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Banks to share credit card data to bypass bad debts
LONDON - Abbey, Barclaycard, the Co-operative Bank and Egg have agreed to share data about their credit card holders in order to minimize the amount of bad debt faced by them. This agreement would men that the banks will now know the behavioral pattern of cardholders including the exact amount they spend each month.
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Mon, 05 Dec 2005 06:45 GMT |
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Sensible credit card choice can offer interest free credit shopping
Consumer rights organisation Which? has advised shoppers to choose the right credit card to make their purchases this Christmas as a little attention can get them interest-free deals or a cashback offer. It told people planning to use the cards to look at those that offer interest-free deals.
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Sun, 04 Dec 2005 06:45 GMT |
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PwC says credit card annual fees could make a comeback
LONDON - U.K. credit card issuers could be forced to bring back the annual fees on the cards that they issue as the industry was being badly hit by higher bad debts, which are causing huge revenue losses, according to an annual study by PricewaterhouseCoopers LLP released on Monday.
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Tue, 15 Nov 2005 06:45 GMT |
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HSBC card to help minimise post-festival debt
LONDON: Retail banker HSBC has taken the first step to ensure a surge in its credit card business during the festive season. Knowing that millions of consumers will borrow money to splurge on Christmas shopping, the bank has offered a credit card deal with an extended interest-free period.
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Fri, 11 Nov 2005 11:05 GMT |
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Credit card crime shifts to the web space
Credit card fraud has moved online as Chip and Pin technology have made other forms of fraud more difficult. Online card crime has more than doubled in Scotland, while in the whole of the UK it has increased only by 29 per cent.
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Tue, 08 Nov 2005 16:05 GMT |
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Online shopping made safe
NEW YORK - The weather has turned, loads of shopping still needs to be done and the holiday season is almost upon us. Sounds a familiar scenario? But do not fret, for unlike all those past years, we have a savior now. Online shopping.
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Mon, 07 Nov 2005 01:35 GMT |
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