According to the Bank of England, UK residents had over £580 billion on deposit at the end of June 2006. Shared equally among the UK’s 48 million adults, this comes to over £12,000 per head. Alas, much of this cash mountain is owned by just a few million wealthy individuals.
Tag: Credit Cards
Motley Fool: Are We Deliberately Driven To Bankruptcy?
Oooh conspiracy! Is it possible that the government has a deliberate policy of encouraging people to spend more than they earn? The signs could certainly be explained in that way. They’ve allowed mortgage companies to gradually relax their lending criteria in all sorts of ways, they don’t force lenders to assess income before they provide unsecured loans or credit cards and, in 2004, they relaxed the bankruptcy laws so that people can wipe clean their debts and be discharged from bankruptcy in just three to twelve months. You could even argue that the government’s failure to educate people about saving, investing and the dangers of debt is all part of the master plan.
Motley Fool: The Student Credit Card Guide
Hear ye all students! Use your student loan wisely. Try reigning in your spending and get a part-time job. Look for interest-free overdrafts and borrow from your parents. This is the Foolish way. If, however, you have absolutely no alternative but to get a credit card, you’ll need to understand which is the best for your needs. Don’t just go to your bank, as they probably won’t have the right deal for you. You should compare credit cards, or, as we more truthfully prefer to call them, debt cards. Here are some ideas:
MoneyExpert: Credit Card Companies Slash Fees
The banking industry has formally agreed to Office of Fair Trading (OFT) demands that it slash the penalty fees applied to credit cards, the majority of them by a half.
Scotsman: Glasgow Is Capital Of Credit Card Fraud
GLASGOW, already known as Scotland’s crime capital, has gained the unwelcome accolade of having the highest incidence of credit card fraud in the country.
MoneyExpert: One In Six Borrow For Their Holiday Says Survey
One in six adults in the UK borrowed money to fund their holidays this summer, new research by CreditExpert has claimed.
MoneyExpert: RBS And NatWest Halt Credit Card Cheques
The Royal Bank of Scotland (RBS) has announced that it is to abandon credit card cheques following a public and political outcry over the ways in which they are marketed.
Motley Fool: Top Credit Cards For Clever Fools
More people have a cashback or reward credit card than a zero percent card now, according to Morgan Stanley. Now just 17% of cardholders have a 0% offer. 21% have a credit card offering cashback and 30% use cards offering points rewards. Obviously free money with 0% interest just isn’t good enough for you people!
MoneyExpert: Cash Back Cards Eclipse Free Balance Transfer Says Morgan Stanley
Cash back credit cards and other reward schemes are now more popular than zero per cent balance transfer deals, new Morgan Stanley figures have shown.
Motley Fool: Credit Cards For Good And Evil!
I have three stories relating to credit cards for you today, which handily fall into these categories: the good, the bad and the ugly!