moneynet in the press

Sunday Telegraph (Money) – 9th April 2006

SWITCHING NEEDN’T BE DIFFICULT

Richard Brown, the chief executive of Moneynet, the financial data comparison website, says: “Consumers waste millions of pounds each year by not switching. While apathy and unawareness that they could save money are factors, financial providers also make it harder than in should be. But there are areas where switching really is easy – most current accounts are still appalling value, but some pay competitive rates of interest and deal with all the switching bureaucracy for you.”

The Scotsman – 1st April 2006

FSA IS RIGHT TO WANT CONSUMERS TO SMARTEN UP

It might be 1 April, but for some today is no joke. Thousands of credit-card holders wanting to transfer higher balances to MBNA will suffer an extra financial penalty.

The company is turning up the heat on “rate tarts”, hiking its maximum fee for balance transfers from £50 to £75. At the same time, MBNA is pushing up its minimum charge for balance transfers and cheque and cash transactions to 3 per cent from 2 per cent. The new fees will be rolled out to many of its affinity cards, as well as its own-brand plastic.

And Moneynet warns that, where MBNA leads, rivals might well follow. Is that not as good a reason as any to start taking the required steps to getting your house in order?

Credit Management – 1st April 2006

VIEW FROM THE SEA-FRONT

Apparent confusion surrounding the small print on credit card agreements is leaving card holders in the dark when it comes to paying bills on time, according to online financial data provider Moneynet (www.moneynet.co.uk).

Moneynet argues that wide variations between plastic providers in the length of interest-free time allowable on their cards has created confusion among consumers.

“The recent decision by some major card firms to slash interest free periods is bound to prompt rival card firms to follow suit,” said Moneynet chief executive Richard Brown. He could well be right. Where Barclaycard leads, rivals invariably follow suit.

Bloomberg Money – 1st April 2006

SPRING CLEAN YOUR FINANCES

The comparison sites are a good way of finding these lenders as they give best buy tables, which are usually based on the standard annual percentage rates. Try the sites mentioned above, or others such as Charcolonline, Moneyextra and Moneynet although you should note that the rate you pay may be dependant on your credit history and whether you have sufficient collateral.

Cosmopolitan – 1st April 2006

SHOULD I USE CREDIT CARD CHEQUES?

Richard Brown, chief executive of financial information site Moneynet.co.uk says: “Most of us have had these through the post and they are very tempting – especially when you’re waiting for pay day. The card companies tend to imply that these cheques are good for purchases where you wouldn’t usually be able to use a card, like shopping at a market stall.”

“However, be cautious. Using these cheques costs a lot more than using your credit card. Firstly, they’re likely to have a higher APR than normal – up to 20 per cent in some cases – and there’s often a handling fee too – about two per cent of the value of each cheque. Also, you often start paying interest right away, whereas you usually aren’t charged interest for a month on conventional plastic purchases”.

eSuperbrands – 2006

PERSONALITY AND GOALS

As a brand, Moneynet strives to be an impartial, trustworthy, friendly and easy-to-use consumer champion.

Moneynet exists to provide impartial, clear, jargon-free information to help visitors compare and decide upon the best products for their circumstances. Its goal is to help save the consumer money and reduce the time spent making decisions.