Balance transfer credit cards: Some banks boost interest-free deals

Banks have brought back or boosted balance transfer deals over the last month as they loosen the lending taps, but borrowers looking to clear their debts still have less choice than ever before. MBNA, Sainsbury’s Bank and Virgin Money all lengthened the interest-free terms on some of their cards, while the supermarket lender also reopened … Read more

Britain paid off £15.6bn in debt in just 7 months amid the coronavirus pandemic

After years of failed New Year’s resolutions, it appears the global pandemic has helped Britons collectively pay off personal debt like credit cards and loans. Between March and October, the latest figures available from the Bank of England, Britons have paid £15.6billion off their plastic and other loans. When the pandemic swept the country in … Read more

Cardholders of Jaja complain of long wait times and horrendous service

Jaja launched its own app-based credit card in 2019, but it has received a poor response  A smartphone-based credit card provider which bought the accounts of Bank of Ireland and the Post Office last year is being flooded with complaints from frustrated customers. Holders of credit cards provided by Jaja, many of whom had no idea … Read more

Celebrity social media pushing ‘buy now, pay later’ credit

Insta fan: Claire Menary: who has 34,000 followers, has promoted Klarna  They are the glamorous social media stars with the picture-perfect lifestyles that attract thousands of aspiring young followers. Yet their posts are now being investigated by the advertising watchdog over fears they irresponsibly promoted ‘buy-now, pay-later’ credit as a way to feel better in … Read more

Barclays hit with £26m fine over poor treatment of indebted borrowers

Barclays has been hit with a £26million fine by regulators after four years of poor treatment of customers who fell behind on their borrowing. The Financial Conduct Authority said business and personal customers who fell into arrears on their borrowing between April 2014 and December 2018 were not properly contacted by the bank. It added … Read more

Campaigners want more regulation of pay later services like Klarna

New guidelines to tighten up advertising ‘buy now, pay later’ services like Klarna have been welcomed by campaigners – but they called for tougher rules to stop more consumers falling into debt. Delayed payment providers have been asked to revamp their marketing by next March to ensure users are not being misled and were aware … Read more

How should Tesco Clubcard shoppers use their points from January?

With England’s second lockdown and accompanying restrictions on international coming to an end, and a coronavirus vaccine in sight, it’s safe to say for many, holidays could be back on the cards for 2021. Almost certainly among those considering trips are holders of thousands of airline miles, who have either had to sit on their … Read more

Credit card holders face late fees because of little-known small-print

Beware costly credit card trap that could leave you facing late fees and black marks on your file By Victoria Bischoff for the Daily Mail Published: 22:01 GMT, 1 December 2020 | Updated: 22:01 GMT, 1 December 2020 In recent months, thousands of credit card users have received sizeable refunds to their accounts after holidays, … Read more