Cards

After an entertaining but exhausting few days presenting Good Morning Britain, I was woken perked up after reading an email to MSE.

Debit and credit card users need to ensure their bank or lender has their up-to-date contact details as providers begin to roll out new measures to double-check it's really you making the transaction. If your card firm can't reach you, your payment could be declined - here's what you need to know.

Barclaycard is to slash many customers' credit card spending limits from the end of May, with one MoneySaver reporting a £16,000 cut even though she says she's never missed a payment and has been a customer for some 15 years. It could leave people without the funds to pay for large, planned expenses. 

A landmark class action case against Mastercard, which if successful could see millions of UK consumers receive £100s each in damages, is set to return to court next month. It's the latest step in a case that has rolled on for almost five years. Here's an update on the most recent developments and what the next stage means for consumers. 

The Financial Conduct Authority's former interim chief executive Christopher Woolard CBE (pictured above) sets out his findings on buy now, pay later products, how credit is changing and what needs to happen next. It comes as Mr Woolard’s report on consumer credit, which was commissioned by the regulator and published today, recommends the buy now, pay later sector is regulated. Below is what Mr Woolard has to say in his own words. Views do not necessarily reflect those of MoneySavingExpert.com.

Up to 125,000 Tesco Bank credit card customers could see their minimum repayments rise by £20 a month on average from March, in a move the lender says is a bid to combat persistent debt. For many, higher repayments are a good thing, as you clear debt quicker and pay less overall, but it can also hit cashflow and give you less flexibility. Here's what's happening and what to do if you're struggling. 

Many Barclaycard customers will see their credit card minimum monthly payment jump – in some cases by 50%, or even more – as part of a major overhaul that comes into effect this week. For many, higher repayments are a good thing, as you clear debt quicker and pay less overall, but it can also hit cashflow and give you less flexibility. We've full help below on what you can do if you can't afford the increases. 

Some Barclaycard customers could see the minimum monthly payment on their credit card jump sharply from tomorrow – in some cases by up to 50% – as part of a major overhaul to the terms of most of its cards. Fees for UK cash withdrawals and busting credit limits will also be scrapped, plus a total block on gambling introduced.

Virgin Money is axing its online services for credit card customers on 31 January, with borrowers encouraged to manage accounts using the provider's app instead. Here's what's happening and what you can do about it - particularly if you don't have a smartphone.  

Consumers can now choose to have regular spending such as Netflix subscriptions and council tax payments factored into their Experian credit scores – but credit providers appear hesitant to take this new info into account, with those we've heard from saying they have no plans to start using it.