Credit cards

The UK's largest credit reference agency Experian has changed the way it calculates people's credit scores – meaning many scores suddenly dropped or increased overnight. We've had many people contact us about this, yet the big picture is you don't need to worry – this doesn't impact how lenders will assess you.

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.

Nationwide debit and credit card customers can now earn between 1% and 35% cashback both in-store and online at selected retailers, bars, restaurants, travel, and accommodation websites.

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.

PPI mis-selling victims will be subject to a time-bar on claims – as we've been warning over the past few weeks – under plans revealed by the regulator this morning.

Santander customers with its 123 current account will have to fork out more for the account from 11 January 2016, while the bank is also upping the fee on its 123 credit card and capping the amount of cashback new card holders can earn.