Articles Published by rebecca stains

Rebecca has a degree in advertising and public relations from Middlesex University, London. Rebecca worked as a Credit Analyst at checkmyfile until 2015

Applying for a new current account

It can be daunting choosing a new current account, especially with so many products available. It is easy to forget that a current account something most people use every single day, therefore it is important to choose one that best suits you and your needs.

Published on 19 Aug 2015 by Rebecca Stains

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Lack of competition amongst major banks due to free banking

An official investigation has identified a lack of competition among major banks due to free banking, which could mean that customers are not getting the best deal. The Competition and Markets Authority (CMA) is looking at the 'free-if-in-credit' model as part of its investigation into current accounts.

Published on 26 May 2015 by Rebecca Stains

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Wonga makes £37.3m annual loss

Britain's biggest payday lender has reported an annual loss of £37.3m. Wonga, which made a pre-tax profit of £39.7m in 2013, saw a large drop in its lending to UK consumers.

Published on 27 Apr 2015 by Rebecca Stains

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PPI bill hits £24.4bn

Payment Protection Insurance, or PPI, is designed to help people repay loans and credit card debts in the event of illness, accident, redundancy or death. However, the insurance was mis-sold to millions of people and when many of these situations arose, customers were not given the financial help promised to them. PPI was also mis-sold to people who simply did not want or need the insurance.

Published on 6 Mar 2015 by Rebecca Stains

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Borrowing and savings continue to grow

As the economy continues to recover, figures from the British Bankers' Association (BBA) show that both borrowing and saving by customers of the UK's main banks picked up during 2014. BBA says that last month the annual growth in consumer borrowing has increased at the fastest rate seen in six years. This includes people taking out credit cards, overdrafts and personal loans.

Published on 30 Jan 2015 by Rebecca Stains

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Credit unions as a viable alternative to payday lenders

A new cap on payday loans was introduced in the New Year, meaning that all short-term credit will now capped at a daily rate of interest at 0.8%. Default charges cannot exceed £15 and the maximum amount paid back will not exceed twice what was borrowed.

Published on 20 Jan 2015 by Rebecca Stains

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Fee-free basic bank accounts agreed in Treasury deal

A new template for basic bank accounts has been revealed by the Treasury, following on from a deal with major banks to make these accounts free from any fees. Basic accounts do not offer overdrafts or cheque books, and are usually provided to those of us with a bad credit history.

Published on 24 Dec 2014 by Rebecca Stains

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Pros and cons of the store card

We have all been at the register, ready to pay, when the sales clerk asks if you are interested in one of their own store credit cards. If you say no you can expect to hear a long sales pitch but sign up and you get a big discount on the purchase you are about to make. Tempting.

Published on 17 Dec 2014 by Rebecca Stains

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An expensive Christmas for many Brits

Britain will spend more on Christmas presents than any other nation in Europe, a survey has revealed. Due to the spending the result is that they are also more likely to get themselves in debt.

Published on 10 Dec 2014 by Rebecca Stains

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Credit card companies keeping borrowers in debt

Credit card companies are to be investigated to see if they are making a profit from keeping some borrowers in debt for longer or by offering them extra credit that they do not need. The Financial Conduct Authority (FCA) will be examining account to see where they make their money.

Published on 9 Dec 2014 by Rebecca Stains

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