This week’s money sections focused heavily on credit cards – more specifically, the use of plastic abroad.
The Financial Times was in practical mood, suggesting ways borrowers could cut fees when going on holiday – while squeezing the most out of sterling’s recent recovery. Melanie Wright’s piece in the Sunday Mirror was in a similar vein, considering cards that reward customers for use beyond these fair isles.
A darker tone was adopted by the Mail on Sunday, Sunday Mirror and The Independent, which all considered Nationwide’s recent decision to increase charges on its overseas FlexAccount, a move that has generated no little controversy.
Credit card companies in general attracted the scorn of the Telegraph, which took a close look at the way card rates have steadily increased despite the Bank of England’s base rate having enjoyed its longest period of stability since the Coronation. The piece suggests these increasing rates could go some way to explaining the banks’ sudden return to profitability.
On a lighter note, the Mail on Sunday looked at the emerging ‘tap and go’ card that is gaining popularity and could soon become a part of everyday life, as Boots, the Co-op and Tesco all apparently have plans to install the terminals.
In other news, pensioners were handed a tale of woe from the Telegraph, which showed that older people are seeing the cost of their travel insurance soar due to the merger between Help the Aged and Age Concern. This theme was echoed in the Independent on Sunday, which used its own research to prove that the cheapest insurance for someone aged between 65 and 74 was over three times higher than that for someone under 55.
Finally, however, for one famous pensioner the news is not all bad: a very happy birthday (for Thursday) to legendary investor George Soros. Congratulations, sir!
And the scores this week are: