You pay your credit card balance off each month, keep
within your credit limit and make your monthly payments on time. An exemplary
customer like you won't suddenly have your credit limit slashed right?
Wrong! In fact your credit limit may be reduced at any
time with little or no notice for any number of reasons and this is happening
more and more often as credit card companies seek to reduce their exposure.
Complaints about Payment Protection Insurance (PPI) have soared according to the Financial Ombudsman Service (FOS) which says 80% of the complaints are being upheld.
In January nearly 1500 complaints were made about PPI compared to 1832 for the whole of the financial year 2006/07. The rate at which complaints are being upheld is a major concern for the banks and other PPI providers.
The way we buy insurance, loans and credit cards has changed for ever over the last few years. The leading online money comparison sites now account for substantial sales of most financial products promoting themselves as fast, efficient and cheaper. The biggest site Moneysupermarket took the lions share of the market handling up to 4.5 million monthly visitors.
The Office of Fair Trading (OFT) is warning that credit card customers should read the small print of their card agreements to avoid companies taking an estimated £400m a year in unfair charges.
The OFT says credit card agreements are full of small print jargon which leave customers confused and vulnerable to charges.
With the popularity of TV programmes like X Factor and global success of iPods, it was never going to be too long before investing in bands, as well as listening to them, became a reality. Jazz Summers, an experienced music industry mogul, has joined forces with Power Amp Music to raise £10m for the Power Amp Music fund.
The fund which falls under the Enterprise Investment Scheme (EIS), aims to develop up to 30 artists from emerging to established ones.
