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Details released by the UK Insolvency Helpline have shown that credit cards are contributing to worrying levels of personal debt . The organisation is calling for more debt relief for those getting into financial problems.

A representative for the UK Insolvency Helpline has said that many people in the UK are finding themselves in financial difficulty due to an inability to follow through on their good intentions, including paying off the debts on credit cards and overdrafts .

Richard Sorsky, a councillor at the Helpline, said that many people intend to pay off their debts but then use the money for other purchases. Read more…

Tags: Credit Cards, Debt

Airlines, holiday companies and cinemas are ripping off customers by imposing a massive mark-up on card-processing fees that should cost just 10p.

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Banks typically charge businesses a few pence to process a debit card sale, however shoppers can be stung for £5 and often much more.

At the same time, firms are profiteering by inflating the ‘must pay’ processing fees on credit card purchases.

Household names such as Ryanair, easyJet, Odeon, NCP, Premier Inn, Eurostar and the Government’s DVLA are all in the dock.

Read more…

Tags: Card, Card Charge

Figures show that spending on credit and debit card increased by nearly 10 per cent in August, compared with the same month in 2009. The data, from Barclaycard, reveals that consumers in the UK are not being deterred by the large cuts in public spending and VAT rises. The report also suggested that end of season sales and spending on back-to-school items has played a major part in the rise in card use, as well as higher prices due to the rising cost of both food and cotton.

The report by Barclaycard is also supported by figures from the Office for National Statistics, which showed that the volume of retail sales rose by 0.4 per cent year-on-year, with the value of those sales increasing by 1.9 per cent.

Stuart Neal, head of Barclaycard UK Payment Acceptance, said “With leading retailers warning that the Government austerity drive will keep the economy in the doldrums and hit consumer confidence hard, it is good to see a fourth month of increased spending. Read more…

Tags: August