Credit Articles
31: Credit Cards - Does It Really Pay To Be Loyal? by: Andy Therfield
Like everyone else today I’m being constantly bombarded by the credit card companies to take out their latest credit card offer.
If it isn’t through my letterbox, then it’s on the radio, or the tel...
32: Credit Cards - Does It Pay To Be Loyal? by: Andy Therfield
Like everyone else today I’m being constantly bombarded by the credit card companies to take out their latest credit card offer.
If it isn’t through my letterbox, then it’s on the radio, or the tel...
33: Self Help Credit Repair Steps by: Joe Devine
Bad credit not only looks bad but it makes it difficult in the future to receive fair loan interest rates and may affect your ability to buy a home when you want. The Federal Trade Commission, which c...
34: Joint Credit Cards by: Mary Tomkins
Many happy couples want to share everything…share a meal, share a home, share a credit card. Wait! Share a credit card? Consider the risks and rewards of opening a joint account with someone,...
35: Claim back unfair Bank & Credit Card charges by: karan
Bank Charges are one of the major sources of income for banks. All banks impose charges on certain failed transactions e.g. a bounced cheque, exceeding overdraft limits, returned direct debits etc. Indeed, banks are allowed to impose charges that reflect the amount of work undertaken by administrative staff in certain situations such as customers going into the red or handling a cheque which cannot be cleared due to insufficient funds in the account. If a cheque or direct debit has to be returned, the bank can charge for the cost of this process. However, any such charge must be reasonable. Banks who regularly impose hefty charges between £25.00-35.00 on a customer who is £1.00 overdrawn cannot be said to be acting fairly. The Office of Fair Trading (OFT) declared that these charges were unfair and unreasonable. It is a scandal and many have called it daylight robbery. Banks when asked to produce documents justifying the charges have failed to do so. However, it is likely that the banks will have gathered some ammunition to produce at the High Court in the test case on bank charges in January 2008. The test case relates only to current accounts and not business accounts. The brutal truth is that unfair bank penalty charges have been imposed on millions of people. It has been a merciless punishment on people who may have simply overlooked their current account status or had a late payment of wages. Excessive charging has resulted in many people getting into debt which also has drastic consequences in credit ratings.
The High Court will no doubt be asked to consider whether the charges are fair. The penalties which can be imposed, and which no doubt may be in the individual contract between customer and bank, relate to a range of services following troublesome banking. However, the OFT’s investigation confirmed that banks were imposing illegal and unfair charges. It is widely thought that the High Court will rule in favour of the customer.
Recent research has suggested that about 41 per cent of people do not know the interest rates applicable to an unauthorised overdraft. Many more have simply swallowed the hefty charges imposed on them without even a letter of complaint or fight. It is also worth noting that 19 per cent of people are always overdrawn. These surveys also show that overdraft charges of £4.7 billion were paid by 43 per cent of current account holders last year.
Credit Card / Store Card Charges
36: Are You Credit Worthy? by: gellingson
Lenders take various criteria into account when determining whether an applicant is credit worthy, but it generally comes down to three important points:
37: High Limit Credit Cards by: kenneth wade
There are many high limit credit cards available right now over the net. I recently applied for a Bank of America card and was given a $5,000 limit. I was then able to consolidate my other cards...
38: Credit Card Debt - Stress Factor by: Michael Rasco
Credit card debt is bad debt. That seems obvious, but there are types of debt that can be good. Home mortgages, business loans, even education loans can provide good returns over long periods. Tha...
39: Using Credit Cards Wisely by: Mary L Tomkins
Credit can make life so much easier. Credit allows us to enjoy things now while we pay for them later. Many of us would never become a homeowner or have a nice car if we had to save up the money to pa...
40: British Banking Boost For Minorca Real Estate by: Michael Mahon
British banks and their credit policies ave been in the news recently, but one of her best known banks and mortgages provider is to open three new offices on the Spanish islands of the Canaries plus t...
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