It’s crunch time for credit. The Government is implementing a cap to the cost of payday loans and the Financial Conduct Authority is due to take over the policing of credit from April 2014. The FCA’s CEO tells us more…
Posts tagged with "credit"
Eight in 10 of us use some form of credit. That’s around 38.5 million adults. Most of the time things go well and credit helps us to manage our finances. But what about when things go wrong or lenders misbehave?
You go onto the Next website to buy a shirt or a dress, and before you know it, you end up with a high-interest credit account that you didn’t ask for. Have you been signed up for an unwanted Next credit account?
When you apply for a credit card, it’s frustrating to get turned down. And now our latest investigation finds many providers are adding insult to injury by failing to help people understand why they’ve been rejected.
Two cheers for the Office of Fair Trading (OFT) today as it confirms that it has referred the payday loan sector to the Competition Commission. Better late than never.
Would you apply for a credit card that charges £15 a month to borrow one penny? I certainly wouldn’t. And yet, the new Shout credit card does just that. In fact, it’ll even charge you for not spending.
Mobile phones have become so prevalent that many people have hung up their landlines for good. But are there still situations when a landline number comes in handy?
In March the Office of Fair Trading announced that the 50 biggest payday lenders had 12 weeks to change their business practices. Today marks the 12-week deadline – have payday lenders improved?
When you’re young it’s easy to assume that, eventually, you’ll get a job and earn good money. But new research has found that instead, high debt and reliance on parents is becoming the new ‘normal’.
Given her history, Kerry Katona seems an odd choice to front a marketing campaign for a payday loans company. And it seems the advertising watchdog agrees, as it has deemed the Cash Lady TV ads ‘irresponsible’.
When money’s tight, a credit card can prove useful to help balance the books. But what happens if you don’t get the rate you wanted? Or worse still, what if you’re refused altogether?
The OFT’s review of payday loan companies uncovered evidence of widespread irresponsible lending. The OFT’s David Fisher explains why it has given 50 payday lenders 12 weeks to change their business practices.
High-cost credit often grabs headlines, but many mainstream lenders also have products designed to cash-in on peoples’ mistakes and desperation. The new regulator must clamp down on irresponsible lending.
Yorkshire Water has announced it’s started sharing its customers’ payment data with credit reference agency Experian. Could this spell good or bad news for your credit rating?