Provident Financial advises former customers to use an ‘affordable’ loan provider as it gets rapped for ‘arbitrary’ mis-selling compensation scheme Provident has told former customers to use affordable lenders and credit unions It closed its doorstep lending business in May after spike in mis-selling claims The Financial Conduct Authority hit out at its £50m compensation … Read more
Higher-rate taxpayers are more likely to become overdrawn than basic-rate taxpayers, new research has found. Around 14 per cent of higher-rate and additional rate taxpayers fall ‘into the red’ for at least half the month compared to just 9 per cent of basic-rate taxpayers, data from Hargreaves Lansdown claims. The survey of 2,000 people asked about … Read more
Borrowers of beleaguered subprime lender Amigo Loans have hit back after it sent them a survey asking them why they voted against its rescue plan. Britain’s largest guarantor loan provider had its proposed cost-cutting scheme of arrangement rejected by the High Court last month. The judge ruled it was unfair and that past and present … Read more
Young borrowers are unknowingly putting their financial futures at risk, with many unaware about the damaging implications of missing loan or credit card repayments. More than half (54 per cent) of 16–24-year-olds were unaware that a missed credit payment can impact their score and negatively impact their chances of securing credit in the future, according … Read more
Has the Barclaycard credit limit cut climbdown begun? Customer who was set to see spending power slashed by 87% gets his old limit back after appeal Thousands of customers are due to have credit limits slashed from May 65-year-old Mark Gough was supposed to have his cut from £14,600 to £1,850 However, after appealing the … Read more
Some overseas travel appears to be back on the table from next week, with countries including Iceland, Israel and Portugal among those looking likely to be open for quarantine-free trips abroad. And although many Britons may have saved on foreign holidays last year and have more money aside for a luxury getaway, the cost of … Read more
Thousands of hard-up Britons could benefit from biggest changes to Debt Relief Orders in years… but they still face a £90 upfront fee DROs are aimed at those who struggle to pay any interest-bearing debts They last for a year and protect borrowers from any enforcement action However, the eligibility requirements have not been changed … Read more
American Express may have caught the eye of shoppers and takeaway fans this week after announcing one of its credit cards is now offering a tasty cashback deal. Amex will dish out holders of its Preferred Rewards Gold credit card £10 every month when ordering from Deliveroo. Cardholders will be able to receive up to … Read more
American Express may have caught the eye of shoppers and takeaway fans this week after announcing one of its credit cards is now offering a tasty cashback deal. Amex will dish out holders of its Preferred Rewards Gold credit card £10 every month when ordering from Deliveroo. Cardholders will be able to receive up to … Read more
American Express cuts cashback on its market-leading credit cards in half from this week: Should customers head elsewhere? Amex offers fee-free and £25-a-year cashback credit cards paying up to 1.25% The payouts will be cut back depending on how much is being spent Those who spend between £5,000 and £10,000 on the free card are … Read more