Retirees becoming more reliant on credit cards and overdrafts January 12, 2015 Retired homeowners are racking up a higher level of unsecured debt, new figures show. Unsecured debt typically includes credit cars, personal loans and overdrafts. The average amount owed per head jumped to £1,546 in December 2014 from £1,336 in December 2013, according to figures released today by the Equity Release Council (EQR). December 2014’s level [...]
Credit card borrowing recovers due to more attractive deals January 8, 2015 A record proportion of credit card borrowing incurred no interest in November. Of total credit card borrowing, 43 per cent is interest-free, figures released yesterday by the British Bankers’ Association (BBA) revealed. The number of card purchases in November was six per cent higher than the same month in 2013. There were 216m purchases made with credit [...]
Regulator poised to probe UK’s £8bn overdraft market April 10, 2014 The Financial Conduct Authority (FCA) says that consumers are paying too much for overdrafts, as it publishes research it’s done into the traditionally unpopular, £8bn market. The regulator, which recently seriously bungled an announcement about an insurance products investigation, says overdrafts still don’t provide good value for money, with many people confused about costs. It’ll [...]