October 2011
Lending to consumers increased by £1 billion in September
(October 31, 2011)The latest ‘Bank of England Trends in Lending’ report found that total lending to individuals rose by £1 billion last month. Many UK households struggling to cope with the rising cost of living may have turned to credit cards and loans for financial help.
Co-op closes £200 current account deal after two weeks
(October 31, 2011)The Co-operative Bank is to shut down its £200 current account ‘switching’ deal after just two weeks on the market.
Banks double packaged account offers since 2006
(October 28, 2011)The number of packaged bank accounts available by UK banks has increased dramatically since 2006.
Credit card basics
(October 28, 2011)Comparing credit cards is important to ensure you get the best deal. However, before comparing it is essential to understand what the different terms mean. A clear comprehension of the credit card keywords will help you to understand what the banks are talking about when it comes to credit cards.
Consumer spending slows down
(October 27, 2011)Despite retail sales having fallen sharply in the last three months up to October, retailers remain optimistic and expect a modest growth leading up to Christmas.
Apathy leads to Brits missing out
(October 27, 2011)Up to 17 million UK adults have never switched their current account, arguing that it is “too much hassle”.
Debt collectors to be banned from using Facebook or Twitter
(October 26, 2011)Debt collectors can no longer use social media sites to chase people up regarding outstanding debts. The Office of Fair Trading (OFT) have labelled this practice ‘unfair’ and subsequently outlawed it.
British borrowers gain confidence in summer sun
(October 26, 2011)Although lending through store cards, credit cards and in-store instalment credit remain low, statistics show that Brits borrowed slightly more money in August this year compared to 2010.
Online banking makes Brits more financially savvy
(October 25, 2011)The relatively recent implementation of online banking services by most banks is proving to be very popular amongst the majority of users. New research reveals that six out of ten people are now more aware of their finances as a result of using this service.
The AA Reward Plus credit card becomes universally available
(October 25, 2011)The AA Reward Plus credit card, which previously was only available to AA members, is now available to anyone who wishes to apply for it.