moneynet in the press

Moneywise – 1 July 2006

THE 5 FINANCIAL PRODUCTS YOU DON’T NEED

ID Theft Protection
Which?’s view is backed up by Richard Brown of Moneynet. He says “Few, if any, of these services appear to offer insurance protection against actual financial loss in the event that a credit-card company, for example, refuses to cover the loss – and surely this is what consumers really need.”

Sunday Times (Money) – 2nd July 2006

TOO CREDITWORTHY

Card firms are refusing applicants with flawless credit scores because they pay off their debts and are therefore less profitable, data analyst Moneynet said last week. The companies, however, claim they are acting responsibly by turning down people who have lots of available credit.

Press & Journal (Aberdeen) – 3rd July 2006

APPLICANTS BAFFLED BY REJECTION FOR NEW PLASTIC

Online data analyst Moneynet.co.uk says mounting evidence from its users points to card companies giving preference to more profitable applicants who are less likely to clear their monthly balances.
“A common scenario is for card providers to decline applicants who already have a substantial line of credit available on other cards, but who want to take advantage of longer interest-free periods from newly available plastic,” said Moneynet.co.uk chief executive Richard Brown.

Northampton Chronicle & Echo – 14 July 2006

UNCOVERING HOLIDAY COVER

Moneynet.co.uk reckons a family of four could either fix cover online for two weeks in Europe this summer for £20.38 – or pay £32.28 to Cosmos or £60 to Travelcare, £79.96 to Thomson or £102 to First Choice.

Daily Mail (Main) – 26th July 2006

PENSIONERS’ DEBT CRISIS

Use online switching sites to help you find the cheapest deals and change providers easily. Sites such as uSwitch.com and simplyswith.com offer help with switching gas, electricity and phone deals while moneysupermarket.co.uk and Moneynet.co.uk help with other financial out goings such as mortgages, insurance, loans and credit cards.

Daily Record (Main) – 27th July 2006

BETTER ODDS

In the three months to the end of May alone, price comparison website Moneynet.co.uk saw a 20 per cent increase in enquiries from non-standard borrowers. But site chief executive Richard Brown says many didn’t realise they no longer had to accept high rate offered by what are known as “sub-prime” lenders. Even people who have got into arrears in the past or had court judgements against them may be able to get loans at good rates from reputable lenders.
Richard says: “If their case was presented in the right way to High Street lenders, many would lend at normal rates.”