Britain’s transition into a nation of accidental savers last year certainly had an impact on its credit card bill. Those with extra disposable income and nowhere to spend it as a result of the lockdown opted to pay down their debts and fatten their bank balances, where once the nation eschewed a savings habit. Britain … Read more
Millions of Britons in need of debt advice due to the coronavirus pandemic could be pushed into unsuitable debt solutions by companies seeking to profit from commission, regulators have warned. Britain’s ‘individual voluntary arrangement market is broken’, the Financial Conduct Authority said in a 68-page review into the state of Britain’s credit and debt landscape … Read more
Borrowers of Britain’s booming £2.7billion ‘buy now, pay later’ industry will soon be able to complain to the Financial Ombudsman Service after it was announced lenders would be regulated under new government plans. It comes as regulators warn there was an ‘urgent need’ to protect shoppers from ‘a number of potential harms’, including the possibility … Read more
Economy may be precarious, tax rises could be near and unemployment is increasing, but 21m people are considering taking out a loan this year once lockdown ends By Jeff Prestridge, Financial Mail on Sunday Published: 21:50 GMT, 30 January 2021 | Updated: 09:58 GMT, 31 January 2021 The economy may be hovering on the edge … Read more
The UK’s advertising watchdog has banned the adverts of two unregulated lead generators after they were found to have mimicked legitimate debt charities and claimed to be endorsed by the Government. The websites ‘writeoffmydebt’ and ‘stepdebtsupport’ were criticised by the Advertising Standards Authority after a series of complaints by the Government-funded Money and Pensions Service, … Read more
A better way of earning air miles from your everyday spending? Amex’s Nectar credit card now has one of the best rates The Sainsbury’s reward scheme announced a partnership with BA last week Shoppers can swap 400 Nectar points for 250 Avios air miles Amex’s Nectar card earns 2 points for every £1 spend – … Read more
Sainsbury’s shoppers can soon swap Nectar points for Avios air miles… but the rate is less generous than with previous Tesco scheme New tie-up means 400 Nectar points can be converted into 250 Avios points This works out at a conversion rate of 0.625 Avios per point This is less generous than the 2.4 Avios … Read more
Deadline day for Clubcard converters as Tesco’s air mile tie-up ends at midnight tonight: Should you swap? Clubcard points can currently be converted into Avios at 2.4 Avios per point This will no longer be the case from 19 January After this points can only be converted into Virgin Atlantic points if shoppers are after … Read more
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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