• Cards & loans

    John Lewis Finance expands with personal loans of up to £25,000 with no early repayment fees – so how does it measure up?

    John Lewis has launched a new personal loan, offering borrowers between £1,000 and £25,000.Rates start at 2.9 per cent on amounts in the popular £7,500 to £15,000 bracket – just 0.1 percentage points above the market leader M&S Bank.There are no hidden fees and the lender won’t charge you any extra if you choose to repay your unsecured loan early. Lenders are allowed to apply 58 days' interest on the remaining amount. Want a new look? Borrowers are charged as little as 2.8 per cent on personal loansHow much the no-penalty perk will save you will of course depend on ...

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  • Cards & loans

    M&S Bank entices new credit card customers with £45 to spend in store. And there's 0% on purchases and balance transfers too

    M&S Bank is offering new customers £45 to spend in store or online when they open a credit card account and sign up to Reward Plus. The incentive comprises of a £20 voucher as a reward for your first spend on the card by 31 March 2018 and 2,000 M&S loyalty points - worth a further £20, as one point is the equivalent of a penny to spend - if you use your card within the first 90 days.There's also an additional welcome bonus of 500 points, worth £5, as a further reward for the first card spend too. New M&S Credit Card ...

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  • Cards & loans

    Have a Lloyds Avios credit card? Check your statement immediately as dozens report fraud on Amex cards issued by the bank

    Britons who have a Lloyds Avios Rewards credit card have been urged by an industry expert to check their statements after reports of a string of fraudulent activity.Rob Burgess, founder of credit card website Head for Points, had a spate of people contact him after seeing fraudulent transactions appear on their statements.The cards are the American Express version of Lloyds Avios credit cards and the majority of the fraud appears to be in the form of contactless payments in the US. Avios fraud: Many who have the Lloyds Avios card have reported fraudulent activityMr Burgess told This is Money: 'The ...

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  • Cards & loans

    Would you pick a Sir Bobby Charlton credit card? Virgin Money targets Manchester Utd fans with club hero designs

    Virgin Money is offering Manchester United fans the chance to vote for their favourite of a selection of four new credit card designs, featuring some of the club’s top heroes.The four-strong line-up of designs were created by illustrator, and Red Devils fan, Stanley Chow.They include England's 1966 World Cup legend Sir Bobby Charlton, Bryan Robson - who played for Manchester United more than 450 times - and legendary striking duo Dwight Yorke and Andrew Cole.Fans can also vote for a card depicting, Sir Bobby Charlton, George Best and Denis Law, who led the club to their first European Cup victory ...

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  • Cards & loans

    Britons' credit binge continues as levels of debt soar 10% to close in on financial crisis peak of £208bn

    Britons' credit binge continued last month with unsecured debt levels creeping close to the financial crisis peak, new monthly figures show.Households racked up unsecured debts of over £204.2billion in credit cards, car finance, overdrafts and other loans as of September, latest data from the Bank of England reveal.That's an annual increase of 9.9 per cent, slightly lower than August's 10 per cent rise, and below November's peak of 10.9 per cent.  Personal debt: The latest data means Britain's debt mountain is closing in on its record highHowever, with the rise, it is within touching distance of its peak of £208.3billion ...

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  • Cards & loans

    Fancy a return trip to New York for free? We compare the best rewards cards to see if it is ever worth paying a premium to boost your Avios points

    Rewards credit cards split into three camps - free cards, those with an annual fee of around 25 to 35, and 'Premium' cards which carry fees of around 150.As you would expect the most expensive deals come with the eye-catching rewards, offering 'exclusive' perks, generous sign-up bonuses, and more points per pound on your spending. But are they ever worth it? We have broken down the numbers to see how much you would have to spend to make one of these cards worth your while and rounded up the top deals. Sky high: Some of the most rewarding airline rewards ...

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  • Cards & loans

    Lloyds Bank begins to rein in lengthy interest-free credit card offers

    Lloyds chief executive Antonio Horta-Osorio said last month that surging consumer credit was not the fault of the big banksLloyds Banking Group has shortened the terms of some of its zero per cent balance transfer deals in a sign that banks are responding to a Bank of England crackdown.Earlier this year Lloyds was offering a Halifax-branded card giving customers 43 months interest free a market-leading rate. The equivalent card today has been pegged back to 38 months.One of the bank s other branded cards is also offering a less generous interest-free period. MBNA is offering a 39 month deal, ...

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  • Cards & loans

    Managers and nurses are the workers with the largest problem debts, but struggling pensioners owe more at 20k on average

    Those in retirement who seek help for their debts owe more money on credit cards, loans and in council tax debts than workers across all careers, according to new research from PayPlan.Retirees seeking help from the debt advice service since the start of 2016 had average problem debts amounting to 19,897.Bank, warehouse and retail managers follow close behind with average outstanding balances of 19,421, more than any other profession, despite likely higher salaries than many others. Problem debts: Those in retirement owe the most at 19,897 according to PayPlan researchNurses come next at 19,278, and administrative assistants working in IT, ...

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  • Cards & loans

    I think my mother was owed PPI compensation when she died, can I make a claim on her behalf?

    My mother passed in 2014 and likely could have claimed for PPI from multiple credit cards. Could I make a claim on her behalf? PPI compensation: Can you submit claims on behalf of a late relative?Gareth Shaw, money expert at consumer rights group Which?, replies: Yes, a claim certainly can be made for Payment Protection Insurance that had previously been mis-sold to a deceased relative, as an assessment of whether they were mis-sold to will still have to be made.The claim will need to be handled by the executor of the deceased s estate. You will need all of the ...

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  • Cards & loans

    Get something back from your spending: Six of the best reward credit cards that pay you to shop

    If you are sensible about clearing your credit card debt each month there are a handful of cards on the market that could reward your effort.Airline rewards and cashback deals are a popular option, but your favourite supermarket or retailer may also offer a credit card that will enable you to clock up loyalty points when you spend. You are unlikely to earn a fortune or be able to use points to pay for your entire weekly shop but they do give you something back for your spending. M&S Rewards: Shoppers earn one point per 1 spent in stores using ...

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  • Cards & loans

    Credit binge Britain: Figures reveal one in 10 is borrowing 5k more than they earn every year

    Amid a spate of warnings that Britons are living on a growing credit bubble, new research has revealed just how reliant on debt many people in the UK are.Research by price comparison site MoneySupermarket has found that one in four wants to borrow an amount equal to half their annual salary a year by taking on more debt.The firm also claimed one in 10 Britons hopes to borrow more than they earn - typically around 131 per cent of their salary - on average 5,058 more than they earn each year. Hyundai i10: Nearly 40% of borrowers cited a new ...

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  • Cards & loans

    I am applying for my first credit card to help me build up my credit score. What are the best options?

    I am applying for my first credit card to help me build up my credit score.I intend on paying it off every month what are the best options? Will I be able to get a standard deal or should I get a credit builder card? Useful tool: Using a credit card responsibly is one of the most simple ways to build up your credit ratingEmma Gunn of This is Money replies: You would have thought that credit card companies would be champing at the bit to sign up new borrowers, particularly those who have been disciplined enough with their finances ...

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  • Cards & loans

    New AA credit card offers interest-free purchases for a bumper 32 months - longer than any other deal: But should you apply?

    The AA has launched a credit card deal offering a bumper 32 months of 0 per cent interest on spending - longer than any other card on the market, or on record.The bank has added two months to its previous 30-month term to skip ahead of Sainsbury s Bank's previous top-spot position at 31 months.The new Dual Credit Card also offers 16 months interest-free balance transfers, with a 2.89 per cent handling fee when you move over your existing credit card debt. Statement sofa: A 0% purchase deal can be a cheap way to borrow for big ticket items if ...

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  • Cards & loans

    Car finance firms using 'kill switches' that stop the engine if borrowers miss loan payments face crackdown

    Financial watchdogs are spearheading a clampdown on reckless car finance firms and may force them to stop ordering the installation of controversial kill switches in new vehicles.The crackdown on the devices designed to immobilise a car if a borrower fails to meet payments is the latest sign that City regulators have fears over the growth in consumer lending.It is thought the devices are common for customers with poor credit histories up to 10 per cent of the 35 billion lent annually to buy cars. The car finance market is considered a potential flashpoint in the wider consumer credit boom which ...

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  • Cards & loans

    Tesco shoppers can tap a contactless Clubcard to pick up points and swap them for Uber rides as supermarket giant revamps scheme

    Tesco has announced a raft of changes to its Clubcard loyalty scheme, including going contactless and adding Hotels.com and Uber to its list of reward partners.The scheme already allows shoppers to exchange points with 400 different companies including the likes of Avios, Cineworld and Pizza Express.The supermarket giant is now also offering contactless Clubcards to customers and revamped its smartphone app. Lucrative: The loyalty scheme already beats rival supermarkets with higher value points The refresh will mean shoppers can apply for a card instantly via the app and access money-off vouchers on their mobiles to use at the checkout. The ...

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