Credit cards

The falling value of people's earnings since 2007 has left 3.2 million households in "problem debt," spending at least a quarter of their earnings on repayments, while 1.6m of these in the most "extreme" type of debt are losing at least 40% to repayments, a report published today has warned.

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.

Holidaymakers who rent a car overseas from at least four major firms risk losing a chunk of their deposit simply because of shifting exchange rates, MoneySavingExpert.com can reveal.

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