For many years we have seen consumers place great trust in the so called “Best Buy†tables in many of the financial magazines. While they do offer a summary of the best offers available at the time, many in the industry have great reservations. Do all companies have the same access to these lists? Maybe not….
Insiders in the industry claim that :-
A recent report into the UK Credit Card industry has shown a sharp fall in profitability for the credit card providers, many of whom have been hit by bad debt provisions. It appears that 2006 was a bad year for the industry with the profit per card falling 40% to “just†£16 in the UK.
The European Union have again flexed their muscles in a move which has sent shock waves throughout the Mobile Phone industry - but who will be the real winner?
The EU recently announced plans to introduce a limit on the so called “roaming†charges in the mobile phone industry - these are the fees that local operators charge each other to ensure worldwide coverage. These “roaming†charges are now a massive part of overseas call charges, and the impact on the income of mobile phone companies has been substantial.
After a long investigation into the industry, the EU have forced through “roaming†price reductions of up to 75% - saving mobile phone users millions of pounds!
As we are all aware there has been a massive increase in the number of speed cameras on UK roads over the last couple of years. This increased coverage, and motorist lax attitude to a £60 fine and 3 penalty points , has seen a massive rise in the amount of money raised from this revenue stream. Is there really much else to worry about after you have paid the fine?
While a judge in Birmingham recently unexpectedly ruled in favour of Lloyds TSB in a case regarding the repayment of bank charges, this has not set a legal basis for all outstanding cases. However, it appears that the banks have ignored the fact this was only one case, and there is an ongoing Government review, and are quoting the ruling in what many see as scare tactics towards outstanding claimants.
In a move which has sparked outrage among consumer groups, Barclaycard are considering the introduction of a £20 annual charge for customers who “do not use their cards enoughâ€. The UK is currently in the grip of a personal debt nightmare, with IVAs and bankruptcies on the up, and this move (sure to be followed by competitors) will worsen the situation.
