Opinion

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Type Product title / description Pub Price
Expert View
Expert View

UK credit card issuers moving towards better lending practices

Following the commitments made by banks earlier this year as part of the revised Banking Code, five UK credit card issuers have agreed to share more customer credit data with credit agencies from December 2008. The move may be a sign of further changes in the way financial institutions conduct business as they attempt to minimize their exposure to risk in the wake of the global credit crunch.

Published By Datamonitor
28 Nov 2008
Expert View
Expert View

UK credit card ruling provides brief respite in turbulent times

The high court ruling on lenders' obligations under the Consumer Credit Act will be welcome news for the cards industry after a difficult 12 months. However, while 2009 will be remembered as a challenging year for UK card issuers, 2010 is likely to be no easier. Consumers are cutting back on their use of credit cards while unemployment continues to turn once good loans bad.

Published By Datamonitor
11 Jan 2010
ResearchWire
ResearchWire

UK credit cards: 64% will own cards by 2006

Published By Datamonitor
12 Apr 2002
ResearchWire
ResearchWire

UK credit cards: 90.9 million in issue by 2008

Published By Datamonitor
08 Apr 2004
CommentWire
CommentWire

UK credit cards: Brown attacks rising APRs

UK prime minister Gordon Brown has told the credit card market that it is "unacceptable" for issuers to raise interest rates in light of falling base rates and the economic downturn. Consumers facing rising costs of credit card debt will welcome the words of the prime minister, but the influence that he may extend over the industry is debatable.

Published By Datamonitor
21 Nov 2008
CommentWire
CommentWire

UK credit cards: clear interest in transparent deals

The Treasury Select Committee investigating credit card pricing has called for greater standardization on the timings associated with interest charging. Issuers are opposing this on the basis that it would lead to a reduction in consumer choice. This argument holds true, but only to an extent. However, there remains a danger that too much information may yet confuse consumers further.

Published By Datamonitor
07 Feb 2005
CommentWire
CommentWire

UK Credit cards: consumers losing interest in their interest

There is currently GBP30 billion outstanding on credit cards in the UK. Only around 2% of this debt is on credit cards charged at low or introductory rates of interest, leaving UK consumers paying GBP500 million a month in interest when they don't need to. While this is mostly due to consumer apathy, there are those prepared to pay for additional benefits in interest.

Published By Datamonitor
20 Jan 2003
CommentWire
CommentWire

UK credit cards: issuers look to retention over acquisition

According to a report from This is Money, Tesco Personal Finance is considering plans to reject the applications of customers that have a history of moving balances between introductory rates, so-called 'rate tarts'. The proposed move falls in line with the wider trend in the industry towards customer retention, rather than aggressively seeking new business.

Published By Datamonitor
17 Jan 2006
CommentWire
CommentWire

UK credit cards: issuers will not take charge cuts lying down

The UK's Office of Fair Trading has written to eight major credit card firms to consult on its provisional conclusion that default charges on credit cards are too high. The industry now has the opportunity to respond before a final decision is reached. If the charges are cut, it will be a further blow to card issuers in the UK market.

Published By Datamonitor
26 Jul 2005
CommentWire
CommentWire

UK credit cards: lack of interest proves costly

At a time when credit card issuer margins are being squeezed from both sides, a new report questions whether providers can continue to offer 0% introductory purchase and balance transfer APRs. Yet although issuers have already moved to protect their margins, there remains little evidence to suggest that we may see the end of such offers any time soon.

Published By Datamonitor
14 Apr 2005

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