Can you get a Credit Card with no CreditCould you get a credit card without a credit card?
card limits and
Credit limits can be changed at any point. When you choose more credit, you can ask for an extension of the credit line by signing into your account on-line or dialing the number on the back of your card. It is important that you take your own finances into account before applying for an uplift.
We will need to review your ability to pay back the cap before approving it. When your credit line is higher than you need, you can apply for a credit cut as long as it is above the credit line and your overall credit amount by phoning the number on the back of your card.
Occasionally we may be able to suggest that you raise your credit line if you fulfil certain requirements. In order to administer how we mail these promotions to you, or to refuse, you can login to your on-line bank accounts or call the number on the back of your card.
Mark-ups for credit and debit cards are to be prohibited.
According to the goverment, it is no longer intended to charge the consumer additionally for payment by credit or debit card. Starting in January next year, companies will no longer be permitted to charge additional fees for card payment. At present, the most serious criminals are airline companies and grocery shopping applications as well as small companies, which usually charge a card charge.
According to estimations by the Ministry of Finance, in 2010 alone consumer spending on such fees amounted to 473 million pounds. This follows a European Union guideline that prohibits additional fees on Visa and Mastercard transactions. However, the goverment has gone further than the guideline by also prohibiting the fees for American Express and Paypal.
Currently those who book air fares with credit card are paying 3% more with Flybe, with a min. of £5. 2% are paid by Ryanair and Norwaybians. Flybe has, however, already pledged to abolish the minima and reduce them. She said she'd abide by all changes to the laws.
A number of airline companies, such as Monarch and British Airways, lowered their fees last year. The take-away take-away foods apps are also among the most highly charged companies, the Treasury said. Hungryhouse and Just Éat both increase the bill for card payment by 50 pence, although in some cases the fee may be borne by the restaurateur.
Also many municipalities charge fees of about 2.5%. DVLA - which levies a £2.50 lump sum charge on one card - must also amend its card paying policies. The HM Revenue and Customs (HMRC) will charge up to 0.6% for credit card use. It is likely that the amendment will mean that some businesses will just increase their rates to meet the additional cost of card transactions.
Bankers usually bill large merchants between 10% and 20% for each direct card payment or 0.6% for credit card transactions. "Perhaps they will push up the price," said James Daley, Fairer Finance's CEO, who has been committed to promoting it. Consumer protection rules only allow companies to bill an amount that represents their own cost in handling a given trade.
Mr Daley said that many companies are breaking the rules. A few small merchants levy a card usage tax - but they also have to make more payments to bankers for handling such operations.