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Tag: credit

Rent-to-own cap to limit product and credit costs

Rent-to-own cap to limit product and credit costs

Business
The City watchdog says a planned cap on rent-to-own charges will place limits on the cost of the product and accompanying credit. The Financial Conduct Authority (FCA) said the crackdown, first reported by Sky News on Wednesday evening and similar in nature to that imposed on the payday lending sector, would be applied from April.Its proposals, if enacted following a consultation, would collectively save consumers - many of them the most financially vulnerable in the UK - almost £23m annually, the regulator said.The rules would mean credit charges not exceeding the cost of the product. Image: The cap will cover the amounts that can be charged for household appliances bought on credit To help ensure prices are fair...
Your child could be running up your credit card bill. You can fix that

Your child could be running up your credit card bill. You can fix that

Finance
If you have children, you may let them play with your tablet or smart phone. But letting them do so could cost you. A new survey from CompareCards found that 29 percent of parents have had their children under age 18 use their credit or debit cards without their permission. Those purchases could be prompted by a seemingly innocent activity: your child's activity on a mobile device. If they click and enter a password, a new app, video game or other feature is theirs — but the bill is all yours. "A lot of parents can get in trouble because their k...
Is freezing your credit really enough to prevent identity theft?

Is freezing your credit really enough to prevent identity theft?

Finance
You can now add credit-report freezes to the list of best things in life that are free. As of Friday, consumers won't have to pay a fee to credit-reporting firms when they want to use a freeze to help protect themselves from identity theft. They would, however, need to contact each of the big three bureaus — Equifax, TransUnion and Experian — to cover all their bases. "I think this is a good partial step," said John Ulzheimer, a credit expert and president of The Ulzheimer Group in Atlanta. "You don't want to have people paying something t...
Flipkart launches a credit line for customers

Flipkart launches a credit line for customers

Finance
BENGALURU: Just weeks before its annual festive sales, Flipkart has introduced a credit line for customers to complete their shopping on the platform. Called ‘Cardless Credit,’ it enables customers to get an instant credit line of up to Rs 60,000, based on the user’s creditworthiness. This will enable customers who do not have a formal credit access, to purchase products and thereby trigger a growth in the gross merchandise value for the ecommerce platform. “Close to 45 million customers on our platform do not have formal access to credit and a good portion of this is emerging from tier II, III towns,” said Ravi Garikipati, senior vice president and head of Fintech Flipkart. “Cardless Credit is a step in the direction to make e-commerce more inclusive and help customers

5 Credit Card Myths Hurting Your Financial Future

Finance
[unable to retrieve full-text content]By Lawrence Sprung, CFP® Credit cards are a tool that many of us use in order to buy things in a convenient fashion, but they represent both convenience and risk. When used properly, credit cards can add value to our financial lives because they offer the ability to buy things now and pay later, build credit and Latest Articles in