Instalment credit sees sharp jump

The amount borrowed by shoppers through instalment credit has risen sharply and bucking the trend for other forms of credit, according to the latest figures. There was an increase of 17 per cent during December compared to the same month in 2008 as consumers sought to take advantage of the VAT rate before the hike in the new year. The total borrowed was £260 million, according to the Finance and Leasing Association. The report says that consumers borrowed money to make both big purchases and using instalment…

Read more...

Consumers urged to check credit reports

The impact of the recent recession on consumer credit has resulted in almost half of credit card applications being turned down last year, up by more than 10 per cent on the previous twelve months. But many people don’t realise exactly what can impact on their credit rating and their likelihood of securing credit. Not being on the electoral register can have more of an impact on a credit score than simply making a few late payments on existing cards. And not having any cards at all…

Read more...

When to start saving?

Britain’s young people don’t think about saving until they’re 25 – and even then, a large number don’t start putting money into bank accounts in earnest until they’re 40. That’s according to a new study by National Savings and Investment, which found that 25 is the average age at which people start saving for the future. However, 22 percent don’t start until they’re 30 or older, and 13 percent don’t get going properly until they’re 40. More alarmingly, the survey found that 15 per cent of people don’t save at all. One set…

Read more...

Older generation unsure of ISA limits

<!– Three quarters of people over the age of 50 don’t know how much their annual ISA allowance is, according to the latest figures. New research by Co-operative Financial Services found that 32 per cent of savers over 50 also wrongly believed that they can only save up to £3,600 in their bank accounts and 22 per cent thought they can save only up to £1,800. In fact, over 50s can invest £5,100…

Read more...

Prepaid credit cards perfect for holidays

Using your credit card while on holiday abroad is one of the quickest ways to rack up heavy charges without realising – and that’s one reason why prepaid credit cards are becoming more and more popular. Preloading a prepaid credit card with local currency before you go away is a simple way of dodging exchange fees and shady admin charges. Caxton FX managing director James Hickman also pointed out that using a prepaid credit card can help make sure you stay on budget when you’re on holiday. And one…

Read more...

We also compare...

Bank Accounts

Best basic bank
accounts for
Free...

Travel Money Card's

Free Travel money card's just
minimum load...

Credit Card's

Credit card's
based on your circumstances.

Latest Reviews

One banking prepaid card

Latest Pre Paid Card\'s News

Copyright 2016 :: Compare Money Transfer Limited :: All Rights Reserved