Barclaycard is expected to announce that it is turning away more than half of people who apply for a credit card, over fears that they may have debt problems and would have difficulty repaying their balance.
As its parent company prepares to release their first half results, the credit card provider is widely tipped to announce [...]
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Barclaycard declines half of applicants over debt problems fear
Plans to cut US credit card debts
New laws in the US that will make it deliberately harder for people to develop too much credit card debt, will be agreed today by President Barack Obama.
The new restrictions, that are to be introduced next February, will put an end to some of the practices currently employed by credit card companies which have been [...]
Credit card debt claims frozen by Judge
A County Court Judge has frozen over 100,000 claims by indebted consumers who are trying to have their loans and credit card debts written-off.
He ruled that borrowers who were overwhelmed with debts are unlikely to be able to write-off credit agreements due to unenforceability.
The loophole in the law, which could make credit agreements unenforceable, has [...]
Withdrawal symptoms: higher credit card debts
People using their credit card to take cash out will be charged more, as banks increase their transaction fees.
The already expensive process of using a credit card for a cash advance is about to get even more expensive, as Egg is increasing its minimum cash withdrawal fee, meaning credit card debts could worsen.
The provider, [...]