Credit Card News UK

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Tuesday, January 31, 2006

The Chip is Mightier than the Pen

Another good story about chip & pin deadline. I like their headline 'Pens have had their chips'.

Strangely, a new debit card I was issued with this month did not have a chip on it. I will still be able to sign for goods with this card. I would rather have a Chip & Pin debit card though.

Monday, January 30, 2006

Reported Fraud almost Reaches £1bn in UK

BBC Article relating to financial fraud growth.

Many of the fraud cases originate within these large financial institutions that were attacked, aswell as VAT scams against the government. Many attacks are very high tech, with fraudsters becoming ever more inventive with their schemes.

Some more information here: Fraud Q&A.

Monday, January 23, 2006

Cashback & Credit Card 'Tricks'

The Mail Tribune has an excellent list of 'tricks' to look out for with credit cards. Most of these also apply here in the UK, things such as hidden charges here and there - they all add up! Don't forget to check over all paperwork before using any credit card that is sent to you.

Meanwhile, American Express continues with its cashback deals, while Nationwide withdraws from its cashback scheme.

Friday, January 20, 2006

Citi Cards Launch Repayment Plan Card

Citigroup have announced a credit card with fixed monthly payments and a low interest rate so that it would be suitable for use with large purchases.

Citi Cards calls this product Citi Flex Payments, and is probably the first card issuer in the UK to offer this service.

If a purchase of £250 or more is to be made, the card holder can phone citi-bank and arrange repayment terms on the spot.

The payment plan is designed to make users more disciplined with their repayments, as it uses a structured system to help them.

The new system is currently being rolled out to selected existing customers, but will become available to new customers early 2006.

Tuesday, January 17, 2006

Credit Cards without the swipe

An American bank has issued it's customers with a new form of credit card, which does not need to be swiped. The credit card uses something called 'blink' technology, where a card holder simply holds their card near a point of sale reader at the checkout to pay for goods. This could be more secure than handing your card over to an employee of a shop. I have doubts to whether criminals could not obtain card readers, and just go around scanning credit cards though. I think the main idea is to speed up transactions on everyday purchases. Card Wise UK will keep an eye out to see if this type of card catches on.
Contactless Credit Cards.
I wonder if any Banks in the UK will take up this technology. As chip & pin has only just been rolled out nationwide, maybe it will take time, or 'blink' may not appear at all.

Monday, January 16, 2006

Ways To Cut Down On Identity Fraud

Here is an excellent article about Identity Theft.

It will probably make you quite paranoid, but maybe you should be. Invest in a shredder!

Friday, January 13, 2006

UK Chip & Pin Deadline Drawing Near

Remember to learn your PIN for any of your chip & pin credit cards by February 14th. Old style cards will still be accepted after this date, so you should not be turned away from any outlets. You will probably just be given a new chip & pin card when your current credit card runs out.

This Is London - Chip & Pin Deadline Looms

Wednesday, January 04, 2006

New Year Credit Resolutions 2006

Happy New Year!

Now is the ideal time to take a good look at your finances after that hectic, expensive Christmas and New Year period. This months credit card statement could be a bit depressing. Never Fear though, Card Wise UK will steer you in the right direction and offer you some advice.

It may be the ideal time to switch to a 0% card, either for new purchases (hit the sales!) or to transfer the balance from your existing card. Always make sure you read the small print before using these features though, to make sure you are eligible.

If you do decide to switch credit cards, make sure you work out how to pay off your existing debt and stick to this plan. You do not want your debts spiraling out of control or you could get into trouble later on down the line.

A good way to track credit cards is if you use digital banking online, many banks offer you to be able to see your credit card balances and transfer money from your bank account to pay off the card.

It is vital you are careful, because as 0% balance transfer offers become more popular, credit card companies exact more restrictions and controls on these deals.