Cards

A landmark damages claim against Mastercard that could put £100s in the pockets of around 46 million UK consumers has been filed at the Competition Appeal Tribunal (CAT) this morning.

If you need to slash existing debt costs, borrow for something new (don't mention Xmas yet) or make a quick buck, there's a host of new scorching deals that make credit cards a hot option. Used well, they're a great tool. Used badly, you'll get burnt - so never borrow unnecessarily. Our pick of the bunch is below, but first...

American Express has cut the cashback rates on its flagship Platinum and Platinum Everyday credit cards, with the Everyday headline rate slashed from 1.25% to 1%.

There's a credit card punch-up going on. In the last eight weeks, 10 new table-topping balance transfers have launched. We've covered the key blows in this email, but now I want to calmly take you through step-by-step how to use this price war to save large, like Jill:

Credit card companies lack incentives to help customers struggling with persistent debt, the Financial Conduct Authority has found – and it proposes new 'customer alerts' to signal the end of promotional periods as part of a package of remedies.

More than 150,000 Halifax Clarity credit card customers will no longer be able to pocket a £5 monthly reward for using their card. However, new customers applying online can still take advantage of the old offer for a limited time.

A former financial services ombudsman is launching an unprecedented legal bid to secure £19 billion compensation from Mastercard over charges that were passed on to shoppers, claiming some 40 million UK consumers could each receive hundreds of pounds in damages.

We've flushed out a great deal - spend just a penny on this 0% credit card and you'll get a £30 M&S voucher, plus access to a decent 0% deal too.

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.