Believe it or not, the banks are still strapped for cash, well that’s what they’d have you believe as they pull all their cash reward credit cards from the market. Just 2 years ago, a quarter of all credit cards available offered cash back, now, that number is down to one in 20.

The reason for this hefty withdrawal? Well, mainly all the mis sold ppi compensation claims that have been made forcing banks to pay out millions. As well as the outlay, income from PPI sales has also dropped as less people take the cover and more people cancel it due to the recession.

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4. PPI Claims Cash Used For Banker Bonuses
5. PPI Claims And Unemployment Drive Up Premiums