A senior MP has suggested that some credit card companies are withdrawing their services from people who keep their borrowing to a minimum, while generating hefty profits from those who borrow more recklessly. John McFall, chairman of the treasury select committee, said that if banks were canceling the accounts of reliable repayers while continuing to profit from those who ran up significant debts, then their business methods would ‘have to be called into question’.

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The Co-operative Bank have launched a new credit card that rewards ethical consumerism with a lower interest rate. The ‘Think’ card features a standard rate of 14% typical APR, but for purchases at certain designated ‘ethical’ partners the rate is halved to just 7%.

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A survey by financial site Money Supermarket has estimated that one in four credit card customers have had to pay at least one penalty fee over the last twelve months.

Even after the OFT ruling that such fees were ‘disproportionately high’ and subsequently capped at £12, the UK credit card industry is said to rake in £230m a year by charging for missed or late payments.

The latest figures from payments association Apacs show a steep rise in credit card fraud committed overseas using UK-issued cards, and holidaymakers are being warned to keep a close eye on their plastic.

A total of £118.2m of such overseas fraud was committed last year, which represented a rise of £36 over the year before.

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The launch of a new ‘3 in 1′ payment card from Barclaycard gets nearer with the launch of a pre-registration option for people wishing to express their interest in applying before the final launch.

The new card will combine an ordinary Barclaycard Visa, an Oyster card for use on public transport in London, and a new OneTouch contactless payment system which allows cardholders to pay for transactions under £10 by simply swiping their card.

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A new prepaid Mastercard has been launched by Virgin Money, to complement their existing credit card offerings and other financial services. The card, which is issued on behalf of PrePay Technologies, will cost an initial set-up fee of £9.95 plus a 2.95% fee on each transaction.

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New figures from payments association Apacs reveal a record high for spending on plastic, with a total of £321 billion spent in 2006.The amount includes £195 billion spent on credit cards, with the rest accounted for by debit cards which continue their strong rise in popularity.

Plastic now accounts for nearly a third of all payments made in the UK.

Credit card giant Barclaycard has introduced a new credit that it says will help in the fight against global climate change. The Breathe card offers incentives for its holders to spend in a greener way, such as offering lower interest rates for spending on public transport, and discounts on green energy supplies.

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BT (British Telecom) have launched a new credit card that can save you money off your phone bill, by automatically reducing your telephone costs as you spend using the card. The BT Card is issued by MBNA Europe, adding to their already extensive affinity and charity card portfolio.

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A unique new kind of credit card has been launched by Lloyds TSB in partnership with Airmiles. The Duo Card account, with which you can earn 1 Airmile for every £10 you spend, has the innovative feature of being compatible with both Mastercard and American Express.

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