A report on the UK mortgage market has shown stronger mortgage lending in December than expected. The research from the Council of Mortgage Lenders (CML) reports that mortgage lending came to an approximate total of £26.3 billion, which is 25% up on December 2004.
A report from the British Bankers’ Association (BBA) has also shown […]
The main attraction with credit cards are that the repayments can’t be spread over a fixed period of time, unlike the traditional bank loan. A credit card has a minimum monthly repayment usually in around 2% of the outstanding balance, but can change depending on the issuer and terms and conditions. Late fees […]
A survey by defaqto and MoneyExpert has found that in 2005, 1 in 5 consumers got hit with late payment fees. The main reason for the late payment fees was late payment of credit cards and store cards. The survey also found that 1 in 20 consumers had built up over £100 in […]
The UK interest rate, set by the Bank of England, has been left unchanged at 4.5% after the bank’s meeting on the 12th of January. The move to keep interest rate the same is seen by analysts as the Bank waiting on more reports from retailers and their Christmas figures.
The UK economy has been […]
Recent reports based on data released by the federal US government indicates that the average American adult is running $3,560 in revolving debt. Extrapolating the figures, the average American household has $7,271 in revolving debt. Revolving debt includes debt accrued from credit cards and loans that have yet to be paid back.
These figures […]
The BBC and Experian have developed a joint debt tester where you answer a series of questions in order to build up your profile. The debt test asks a series of questions about your current financial stats such as how much you earn, what you pay back per month etc. This helps them […]
Even those great interest free credit cards eventually start charging interest, once the interest free period has passed. So why do credit cards charge so much interest?
Basically it all comes down to risk. The interest rate for any loan or credit card is directly tied to the risk of loss to the lending […]
Visa USA have publically aknowledged that a merchant credit card provider based in the United States may have had a security breach where the details of accounts were revealed. Visa have announced that they have alerted the financial institutions so that they can protect their business and customers.
