Cards

More than 180,000 credit card customers of the firm New Day – which provides Aqua cards and storecards for Debenhams, House of Fraser, Topshop and more – can expect to pocket an average refund of £20 each after they were hit with unfair additional charges on top of default fees and other charges.

M&S is to become the latest in a string of credit card providers to cut its reward points offering, more than halving the points you get when spending outside M&S itself later this month.

A data breach at an unidentified online retailer could have led to credit card users having their account details "compromised", MoneySavingExpert has learned. Tesco Bank has already cancelled some of its customers' cards as a precaution and users of cards from other companies are likely to be affected.

From today, Barclaycard's 10.5 million customers can access their credit scores for free via Experian, while Tesco Bank customers with its Foundation credit card can do the same from this week via reference agency Noddle.

Over 10 million Barclaycard credit card customers will have their interest rates linked to the Bank of England base rate from February next year, while the same is also happening for some Lloyds Banking Group customers.

The financial watchdog says competition in the credit card market is working fairly well for most consumers, although it has expressed concerns about the scale of potentially problematic credit card debt and claimed more could be done to help struggling borrowers.

The Government has today confirmed plans to cap the fees card firms charge retailers to process transactions, which could spell the end for cashback and reward card deals.

Millions of Tesco credit card users face a huge drop in the number points they collect when spending, with some set to see their benefits culled to just a quarter of their current value.