In recent months the United Kingdom consumers have been struggling with their credit card debts.  They have looked for credit cards instant decision in order to get new cards with balance transfer deals.  Unfortunately, the credit card companies have removed a number of their better deals.  The recession and credit crunch made it difficult for credit card companies to be so free with lines of credit.  Many changes like reducing the limits and increasing the interest rates have been practiced. Read the rest of this entry »

In the last two years credit card companies have suffered a lot of default from their consumers. More than that the companies have raised interest rates, taken products away and made it more difficult for consumers to use their plastic comfortably. Read the rest of this entry »

A recent study has showed that the use of credit cards has changed. The economic times have been tough since 2007. Right now experts are saying we are in the worst of the difficulties at it should be getting better from here.
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In the UK Barclaycard, one of the largest operators for credit cards announced they will be upping their rates.  The British company stated they will raise interest rates on thousands of customers..  These customers are already struggling with making repayments.  There is a huge controversy regarding this move.  The Government has asked credit card companies to play fair, but many do not feel Barclaycard is adhering to this. Read the rest of this entry »

American Express credit cards are not as popular in the UK, but it is still possible to get one of these credit cards. In recent news American Express stated that they are going to change their credit card rewards. Customers are being sent information that their rewards programme may soon end with a new type of cashback offering.
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More than 1,000 police officers and staff have misused their company credit cards. 1,183 employees used their credit cards for personal spending. Instead of punishment these officers and staff were given training and guidance. However, Jenny Jones and others said the training was not enough.. The use of the cards was between 1,100 and 82,000 pounds. The money is going to be repaid by the police officers and staff who misused the cards.
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O2 is one of the largest phone companies in the United Kingdom. They have announced a new product they will be offering to their consumers. This product is a prepaid Visa card. The idea is to help consumers maintain better control of their spending. O2 joined with NatWest in order to offer this new card.
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With fraud increasing, credit card issuers are looking for more ways to offer better security. Many card issuers are calling their new cards “Dynamic” in that they are going to have constantly changing passwords. With an increase of 43 percent in two years, the UK companies have decided that they have to crack down on internet, telephone, and mail order shopping. The chip and pin is not offering protection to these types of transactions.
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More talk has occurred regarding credit card cheques. It was announced several months ago that the FTC would be looking for tougher regulations regarding credit card companies. With numerous complaints from credit card holders, the FTC decided they should address the credit card cheque issue. Credit card holders have been receiving these cheques in the mail without asking for them. It is actually a known process for the companies to send out these cheques. However, consumers are worried about fraud.
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The government in the UK has finally produced some steps to curb the credit card industry. The question still remains though, is it too small a help and is it already too late to benefit most UK citizens? What exactly is included in the White Paper that the government released? Will it affect credit cards like the zero percent balance transfer or the credit cards instant decision cards that have been so popular in recent years?
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