HALF of 16-24s don’t know that a missed payment can damage their credit score

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

Government Debt Relief Order changes could help thousands more ‘freeze’ what they owe

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 to cut cashback on its credit cards by as much as 50%

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

The British buy now, pay later firms: AppToPay, Butter and Curve

Swedish checkout credit colossus Klarna is not just Europe’s most valuable start-up at an estimated $31billion, it’s a verb too. Rather than pay for something upfront using their debit card or put a big purchase on a credit card, increasing numbers of shoppers, especially younger ones, instead choose to ‘Klarna’ it. That can mean paying … Read more

Barclaycard under pressure to reverse credit limit cuts for steady customers

Barclaycard customers have called on it to reverse heavy-handed credit card limit cuts hitting cardholders whose financial circumstances have remained steady – or even improved – over the last year. This is Money received a deluge of responses from readers by email and on social media after we reported on the growing backlash against the … Read more