Articles & News About Your Credit

Credit Card PPI - Another Consumer Rip Off Warns Burgesses

Braintree, Essex (PRWEB) September 12, 2008 -- News from Which? magazine that over 9.8million people with credit cards are forking out £127 each for worthless Payment Protection Insurance (PPI) is shocking and another blow to ethical providers who are trying to salvage the reputation of an industry rife with malpractice and greed, says PPI sector lobbyist Sara-Ann Burgess from Burgesses.

Which? reports today that almost 1.3million people buy credit card PPI (http://www.burgesses.com) in the belief it will improve their chances of being approved for credit and it appears providers positively encourage this view; three in ten consumers were told upon application that 'PPI is a good idea'.

However, Sara-Ann echoes the sentiments of Which? and says this cover is unnecessary and rips off consumers: "I applaud this campaign from the consumer watchdog - people need warning about this product. Ninety five per cent of premiums are taken in commission by providers, very few claims are ever paid and it will not provide a financial safety net for those with mounting debts."

She continues: "Credit card PPI only pays the outstanding minimum monthly balance leaving an outstanding debt which will still have to be paid once the 12 month payment period expires.

Consumers are better off reducing their level of debt rather than spending their money on insurance that will not pay out when it's needed. If the policy does pay out - and only 11% are ever successfully claimed - it will have little impact on the overall amount owed on the credit card."

Credit card PPI (http://www.burgesses.com) is worth over £970 million a year to the PPI sector, making it the second biggest selling product. Sara-Ann concludes: "It's no surprise to find credit card providers pushing this product, they make a tidy profit! If you're adamant you want this type of cover, buy a policy from one of the independent providers. Prices start at around £6 - a twentieth of the costs charged by credit card companies. Alternatively, opt for income protection - it pays all the monthly bills, not just credit cards, should accident, sickness or unemployment occur.

"During these difficult economic times, it saddens me to find consumers are falling victim to unscrupulous profit-driven companies who although profess to caring about the financial well being of their customers, are keen to encourage them to push themselves further into debt. Don't waste money on premiums, use it to line your pockets instead."

###

Other Article Sites

findabook.com  moneycd.info  a-mortgage.info   about-lemon-laws.info  aboutstudentloans.info
all-about-publishing.info  auctions-articles.info  bestcollege-university.com  bestispconnection.com
biblefolder.com  blogger-website.com  books-used.info  brokers-guide.info  buywindows.info  cable-dsl.info
career-miner.com  carpel-tunnel.info  cashinaflash.info  cashloanreviews.info  casinobell.com  chat-house.info
clearmycredit.info  collegeloantips.info  crones.info  depression-articles.info   dirnic.net  dishguides.info
divers-below.com  expodog.info   financewizz.com  fire-insurance.info  getgood.info  handleit.net   it-idea.info
health-supplies.info  hosting-right.com  insidealert.com  insurance-facts.info  jobs-employment.info
justgood.info  lookgold.net   lowcost-travel.info  money-source.info  myhostzone.info  numisblog.com
peoplesearchfinder.info  pr-articles.info  realeas.com   refinancing-guides.info  spyware-remove.info
telelot.info  the-law.info   toppaid.info  travel-deals.info  travelcorrect.com  wedding-guide-site.com
your-blog.info  your-credit.info

Credit Card Application Tips For People With Bad Credit
A common misconception of a lot of people is that the best credit cards in the world are unavailable to the average joe. By "best", we don't necessarily mean credit cards with almost bottomless credit limits; the best credit cards are ones that provide reasonable interest rates while allowing for adequate expenditures, are accepted almost anywhere in the world in a wide variety of establishments, and provide added perks and benefits for their users.

Credit Cards For Bad Credit Can Help Rebuild Credit
Despite all the publicity to the contrary, there are credit cards for bad credit holders and people are willing to pay a lot of money to get themselves more credit. Very few people with bad credit planned for it to happen, but illness or joblessness can quickly take a financial toll on them, leaving them choosing between eating, having a place to live and paying some of the bills.

Applying For Credit Card With A Bad Credit Rating
Have you found yourself in a downward spiral trying to get caught up on bills, yet only finding your debt climbing higher and higher? Unfortunately, that is a reality for many people in society today. The amount of debt per family in the United States is at an all time high. This type of spending behavior and financial planning will lead you to have bad credit. That will only add to your cycle, as you will find your interest rates for major purchases and credit cards with climb as your credit rating falls. Thus, you will struggle more and more financially.

Bad Credit Mortgage Loans Online - How Your FICO Credit Score Can Affect Your Loan Approval
When applying for a mortgage loan when you have a bad credit history. There are a few things you should know about your FICO score that will help you know what to expect from mortgage lenders.

Apply Online For A Credit Card - Instant Online Credit Card Application
The Internet has changed the lives of many of us in lots of different ways and we can now do our shopping, book flights, download music, software and ebooks, and even apply online for a credit card. Making an instant online credit card application is quick and efficient and comparison charts make it simple to find a low interest rate credit card, or the best credit card deal to suit your personal needs.

Apply For A Credit Card Online Even If You Have Bad Credit
It is undeniable that we need credit cards. There have been some debates about this "need" but with the majority of American people possessing a credit card or two maintaining a permanent residence in their wallets, it seems that the "need" side is winning.

Business Credit Card Application Needs Good Credit Report
As with a personal credit card, the business credit card is a highly efficient method for obtaining, granting, and expending loans. The applicant for a business credit card needs do little more than fill out a brief application or key in a few bits of information over the Internet. In most cases, the customer is granted a line of credit, which can be accessed and expended quickly and easily each time the business credit card is used. Assuming that the customer has a good credit record, the credit limit will automatically be increased when it is reached, thereby increasing the loan amount without much effort on the part of the business credit card holder.

Apply Bad Card Credit Credit Online
Within this article on Apply bad card credit credit online, we will look at a couple of different cards that you can look at applying for. We will look at the benefits of each card and let you come up with the decision on what you think the best card for you is.

Credit Cards For People With Bad Credit Scores
Sometimes life lands you in a situation that causes your credit to suffer. A job loss or illness can send your credit rating south leaving you with nothing to do about it.

Fairinvestment.co.uk Reports Prepaid Credit Cards no Longer Just for Bad Credit Histories
Fairinvestment.co.uk reports prepaid credit card market expected to rise £4.5billion by 2010 in light of the UK credit crunch.

Credit Repair: Repair Bad Credit Card Debt Yourself
Credit repair and eliminating your credit card debt does not mean that you have to hire an expensive credit repair service. In fact, if you want to fix your credit you can do it yourself for free. I cannot promise that it will be easy but despite the glib promises made by professional services those are not easy either.

Bad Credit Credit Cards - Credit Website
Bad credit credit cards website specifically designed for those with bad credit. With bad credit credit cards, those with poor credit have the opportunity to turn their credit around.

Instant Bad Credit Loans - Loans for People with Bad Credit Score
Everyone ruins his or her credit score at some point of time or other. Not that they simply want to ruin it, the circumstances or lack of experience leads to bad credit score. Consider a student who just got his credit card. He will use it to the maximum in the excitement without even giving a though to the repayment, thereby getting a bad credit score. A bad credit score later becomes a hindrance to avail loans. One method to improve your credit score is to take instant bad credit loans.

Good For Worst: Credit Cards For People With Bad Credit
A credit card can offer advantages that ready cash will usually not. With robbery rife, a credit card can keep you from carrying large and dangerous amounts of cash. You also do not have to worry about looking for an ATM if you suddenly run out of money, provided that the merchant you want to purchase products and services from has a credit card machine.