credt card news

Around £127bn has been lost from UK pension funds as a result of the recent stock market crash, according to a new report.

The value of employees' defined contribution pensions, of which there are thought to be around four million such schemes in the UK, has dropped by nearly a third from £552bn to £395bn, according to research by consultancy firm Aon.

Some of Britain’s leading banks will begin their latest legal defence of their customer charges policies today in a court case worth more than £2bn.

The Office of Fair Trading (OFT) is challenging several high street banks over their policy of charging customers fees for actions outside the normal terms and conditions of their account, such as late payments or unauthorised overdrafts.

A leading UK retailer has been criticised after putting its name to credit card that charges customers almost 400% APR.

Catalogue store Argos has joined forces with home credit provider Provident Financial to offer a credit card with an advertised APR of 399.7% which can only be used with the retailer, attracting fierce criticism from financial experts and MP’s.