HBOS, once the largest UK mortgage lenders, are planning to scrap the current accounts, credit cards, personal loans and even some mortgage deals offered by their online arm Intelligent Finance .
The financial services groups is hurting due to credit crunch woes, not just in the credit card sector but across the board. Last week, HBOS announced a 51 per cent fall in pretax profits.
Putting unions up in arms, HBOS are also reportedly understood to be cutting mortgage staff and creative teams. Those customers that have a credit card with IF are not going to be affected, HBOS reportedly commented.
Intelligent Finance credit cards scrapped
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Intelligent Finance credit cards scrapped
Thu, 14 Aug 2008
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