Most British holidaymakers were previously resigned to the fact that they won’t be able to head abroad this summer due to the coronavirus pandemic causing travel havoc. However, reports suggest that the Government is mulling potential ‘air bridge’ countries which could see Brits head abroad to low-infection countries without facing quarantine on their return to the … Read more
Britain’s £221billion consumer debt pile shrank by nearly £7.5billion in April, the largest fall ever recorded by the Bank of England. As households cut their spending during the coronavirus lockdown, the amount households they borrowed slumped to £11.8billion, almost half of the figure for February. Although the amount households paid back also dropped, the spending … Read more
Britain’s largest guarantor lender Amigo Loans is being investigated by regulators over its lending practices. In an announcement to the London Stock Exchange, Amigo said the Financial Conduct Authority launched an investigation on 29 May into ‘whether or not Amigo’s creditworthiness assessment process, and the governance and oversight of this, was compliant with regulatory requirements.’ … Read more
The number of interest-free credit card deals has fallen to a record low for the second successive month, as banks continue to slash the availability of unsecured debt during the economic crisis caused by the coronavirus. Lenders are unlikely to be handing out fresh unsecured debt when there are doubts over borrowers’ ability to repay … Read more
An app called Bits is aimed at those with a limited credit history and is designed to boost an Experian score through a monthly fee It is often considered something of a catch-22 that in order to make yourself eligible for credit you must first take out credit. There are often stories about ‘mortgage invisibles’, … Read more
British Airways customers who have their flights cancelled can now take refunds in the form of Avios points, as well as cash or a voucher. The scheme is open only to those who booked flights directly with BA and not through a third-party. The airline is offering cash refunds to those who call. However, like … Read more
‘Summer is cancelled’, health secretary Matt Hancock suggested last week, and it is likely most will be looking to recoup their money from cancelled flights rather than spend it on new ones. But those with thousands of air miles might be considering alternate uses for them rather than wait for life to return to normality. … Read more
Mastercard faces two days in front of Britain’s highest court to determine whether it potentially owes every adult in the UK a collective £14billion. Former financial ombudsman Walter Merricks is taking the card provider to court, claiming the fees it charged shops between 1992 and 2008, declared unlawful by the European Commission, resulted in consumers … Read more
American Express customers who opened a credit card shortly before coronavirus pandemic given extra time to rack up spend for bonus points Amex often give a points bonus if you spend a certain sum in three months These can be Amex points, British Airways air miles or Nectar points It has doubled the time limit … Read more
Plastic purge: Britain’s personal debt pile SHRANK in March as people shun credit cards amid coronavirus crisis Bank of England found households paid back £3.8bn more than they borrowed Of that, £2.4bn came from credit cards and the rest from other loans The bank said a collapse in new lending was the big reason, as … Read more