Credit Card APR Reaches 20-Year High of 35.8%
The average credit card purchase APR has surged to 35.8% in February, marking the highest level in at least two decades. Finance experts warn borrowers to review debts and consider balance transfers.
The average credit card purchase APR has surged to 35.8% in February, marking the highest level in at least two decades. Finance experts warn borrowers to review debts and consider balance transfers.
Nationwide Building Society is expected to distribute £100 payments to millions of customers this summer through its Fairer Share scheme. Members must meet eligibility criteria by the end of March to qualify for the cash bonus.
UK households can leverage a £3,000 annual gifting allowance to escape HMRC inheritance tax bills, as tax thresholds freeze under Labour's budget may push more into higher bands.
Three Mobile customers will see their bills increase by up to £2.30 per month from April 1, following a contract correction and new Ofcom rules requiring clear pricing.
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RecommendedHMRC reveals 758,000 people have yet to claim lost Child Trust Funds averaging £2,200, with accounts set up for children born between 2002 and 2011.
HMRC has issued an important update on National Insurance changes, with Treasury minister Dan Tomlinson confirming efforts to meet service-level agreements by the end of the tax year.
Senior Treasury officials have detailed upcoming legal amendments to the Building Societies Act 1986, which will ease funding restrictions for mutuals like Nationwide, with changes expected before summer recess.
Trainline CEO Jody Ford announces departure after six years, causing shares to slump amid competition and government rail nationalisation plans.
British households will see energy bills fall by 7% from April 1, with average annual costs dropping to £1,641. The government has mandated full savings pass-through to all customers.
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RecommendedNationwide Building Society has provided £300 payments to certain members through its Fairer Share bonus scheme, with eligibility based on banking, savings, or mortgage products. Future payments for 2026 will depend on financial performance.
Financial advisors caution that platforms like GoFundMe are making people complacent about personal responsibility during serious life events, calling it a dangerous gamble.
Money Saving Expert Martin Lewis issues a warning as NS&I Premium Bonds prize rate falls from 3.6% to 3.3% in April. Experts suggest considering high-interest savings accounts for guaranteed returns instead.
A new survey shows 50% of UK adults would turn to artificial intelligence for financial guidance, with younger generations leading the adoption of AI tools over traditional advisors.
Lloyds Banking Group confirms 168 branch closures over the next two years, impacting Lloyds, Halifax, and Bank of Scotland. Experts highlight alternatives like shared banking hubs and community bankers.
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RecommendedLloyds Bank is providing a £500 bonus payment to customers who switch to a Premier account by April 30, 2026, with additional perks like Disney Plus and cinema tickets available.
Governor Andrew Bailey tells Parliament that inflation is 'baked-in' to fall to the 2% target by May, amid cautious optimism from financial experts and mortgage brokers.
Financial experts reveal 13 legal methods for couples to protect significant sums from HMRC through allowances, ISAs, and strategic planning as tax thresholds remain frozen.
The Making Tax Digital initiative launching in April 2026 will require over two million Brits to submit more than 10 financial updates annually, sparking criticism from small business owners about increased administrative burdens.
NatWest and TSB have announced mortgage rate reductions of up to 0.2%, following similar cuts by Barclays, Nationwide, and Santander. Experts predict further base rate drops.
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RecommendedPersonal finance expert Martin Lewis reveals a state pension error affecting caregivers who took time off between 1978 and 2010, with potential payments reaching over £30,000.
Lloyds Bank has introduced two bonus payments totaling up to £700 for UK customers who switch accounts, save, or invest, with offers valid until April 30, 2026.
Standard Chartered announced a £1.2bn share buyback and 65% dividend increase despite missing analyst profit forecasts, as its wealth management division achieved record performance with $52bn in new client inflows.
National Savings and Investments reduces Premium Bonds prize fund rate from 3.60% to 3.30% starting April 2026, while odds worsen to 23,000 to 1 per £1 Bond.
UK taxpayers are reporting a critical error in HMRC's 2024-25 tax calculation software, with basic-rate dividend income taxed at 20% instead of 8.75%. Despite repeated complaints, HMRC's helpline delays and lack of response leave households frustrated and
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RecommendedSantander is sending letters to UK customers about pre-approved credit card offers, urging them to manage spending wisely with details on rates and eligibility criteria.
British Gas is running a monthly prize draw where members can win a year's worth of free energy valued at £1,748. Customers must opt in by February 28, 2026, to enter.
The Labour government will cap National Insurance relief on pension salary sacrifice at £2,000 annually from April 2029, impacting millions of pension savers and employers.
Employees are urged to check for reimbursable expenses like mileage, professional fees, and unpaid leave, with potential claims adding up to £2,971 over several years if left unchecked.
New figures reveal that 1,300 individuals have applied for exemption from HMRC's Making Tax Digital rules, with over 200 already denied as the system launches this spring.
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RecommendedNationwide, Lloyds, and NatWest customers are being alerted to significant changes in contactless spending limits, with the £100 cap being removed from March 19, potentially allowing higher single-tap transactions.