There are numerous credit card and current account deals on offer to choose from and it can be a daunting task to find the one that suits you best. For those with access to the internet there are many useful money comparison websites. For those who do not have access to the internet many Sunday Newspapers have a Money Section which list the best deals, however these are not as comprehensive as the internet listings.
Before searching for the best deals it is wise to consider exactly what your requirements are to enable you to narrow down the selection available to you. When searching for credit card deals there are a number of different incentives depending on your circumstances..
Interest free cards can be a useful way of spreading the cost of a large purchase over a long period. There is usually a period of grace between 3 and 18 months when no interest is charged on the balance, however, once this period expires the interest rate can be very high so the idea is not to have an outstanding balance at the end of the no interest period. Provided you are strict enough to pay off the debt before this date this is a very good cheap way of borrowing money but if you don’t pay off the debt it can work out to be very expensive.
Balance transfer deals are useful if you have an existing credit card which has an outstanding balance on it and are looking to reduce the interest payment. Some card providers tempt new customers with 0% balance transfer cards which allow a period of time in which no interest needs to be paid on outstanding balances. You would usually have to pay a one off transfer fee as a percentage of the debt being transferred and any additional spending on the new card is usually expensive.
For example, Barclaycard are cur...
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...2,500. After 12 months the interest rate falls to 1% AER. The account must be funded each month with a minimum of £1,000 and for the first 12 months the overdraft rate is 0%.
The Santander 123 account pays cashback on your household bills and 1% cashback on your Santander Mortgage. There is a £2 monthly account fee and a monthly funding requirement of £500. The account pays an interest rate of 3% on balances between £3,000 and £20,000 and for the first 4 months the overdraft rate is 0%.
There is also a Marks & Spencer current account which entitles those opening an account to £100 on a Marks & Spencer gift card, plus 1 reward point for every £1 spent in the store. It's worth bearing in mind though that you will need to spend £500 in order to qualify for a £5 voucher! The account also offers an automatic £500 overdraft the first £100 of which is interest free.
Credit cards can be difficult to handle some times. Before you know it your debt can have risen to a level where you start to find it difficult to pay off the balance owing. Before you know it you are really struggling and less and less money is being paid off the card and more and more is being added to it. This article 10 Ways To Pay Off Your Credit Card Sooner explores ways to get your credit card back in control. 1. Always pay at least your minimum repayment by the due date If you start to
are benefits of signing up for store credit cards. In fact there are a lot of benefits for signing up for credit cards if it is done properly. The big question is does a store credit card build credit? The benefits of signing up for store credit cards may not seem important, but they can be if the individual handles it properly. There are numerous benefits and a numerous cons associated with every decision that anyone ever makes. Benefits Financially, credit cards can be good for people. Firstly, there
Credit Card Importance There are many different topics about personal finance that are important to me but the one that sticks out is Credit Cards and Debt. This is important to me as a college student because Credit Card companies tend to target students. They do this because they know they are into the new trends and don’t always do research when it comes to interest rates, and polices that credit card companies have. Many students just sign up before reading what they are getting their self’s
a Discover Card. What do all of theses names have in common? They are all credit cards, the easy, fast way to pay for purchases when you don’t have cash, the store doesn’t accept checks, you would rather pay at a later date, or a variety of other reasons. Although there are many positive reasons to have a credit card, carrying this small plastic card can also cause many problems if one isn’t prudent and logical when making purchases. When deciding whether to sign up for a credit card or not, one
use of the credit cards solicited to them. This is due to several factors, the first of which is the ability of classes below the Upper-Middle and Upper classes being able to acquire credit cards easily and readily. The second reason is that the interest rates of these credit cards, set by the companies that advertise and produce them, has been and, in the foreseeable future, will be extremely high. Finally, the credit card debt is such a problem today because the market for credit card companies
the UK credit card industry been so profitable in the 1980s? Which factors were the greatest threats to continued profitability? At the beginning of the credit card history in the UK there was only one player, Barclays Bank, which started operating the card business in 1966. It didn’t seem a profitable business at the beginning but the major banks were concerned that due to the use of the credit card, the logo of Barclay was appearing everywhere. The main sources of income in the credit card business
Benefits of Using Credit Cards. Much has been written about the dangers of misusing credit cards, and it is true that many people have run into serious problems because of the careless use of credit. Used properly, though, credit cards can be a source of many benefits, and can provide certain protections and warranties not available when paying by cash, cheque or debit card. This article will point out the types of benefits available, but not name any specific card, because the features and advantages
It is fascinating to know how important it is for one to have a good credit score in the United States. For those of us that takes residing and excelling in this nation seriously, it is important to have a very good credit score. In fact, it is the key to our financial life. For example, having a good credit score will offer access to lower insurance rates and lower interest rates on credit cards, as well as access to loans. Interestingly, it also offers access to an afford security deposits on utilities
Appeal to former debit card users In the past, consumers have gravitated to debit cards instead of credit cards for three main reasons: 1) a desire not to have to pay bills; 2) the urban legend that debit cards provide fraud protection superior to that available via credit cards; and 3) the decreased risk of overspending. However, recent overdraft and swipe fee regulations have resulted in a mini-exodus from debit cards, driven primarily by the near-extinction of debit card rewards. This means a significant
Credit cards can be invaluable tools for college students. Using a credit card is more convenient than cash, and may help a young adult build credit that will be useful throughout his adult life. However, before a student applies for a credit card, he needs to know how credit works and the consequences associated with the misuse of a credit card. Credit can be very helpful, but may also be dangerous if one does not use it properly. Many students apply for a credit card as a way to have extra
Credit card debt is one of this nation’s leading internal problems. When credit was first introduced, and up until around the late 1970’s, the standards for getting a credit card were very high. The bar got lowered and lowered to where, eventually, an 18 year-old college student with almost no income and nothing to base a credit score on previously could obtain a credit card (much like myself). The national credit card debt for families residing in the United States alone is in the trillions (Maxed
Debt”). The issue of cash versus credit has become a big issue in society today. One may see benefits in using cash, while another may see benefits in using credit. However, the statistics are in favor of using cash, not credit. Using cash is a better decision than using credit, because cash is harder to let go of than credit, credit makes one go into more debt, and credit has risks and fees. “56% of teens agree that it is easier to buy things with a credit card than cash” (“Dangers of Debt”).
Impact on College Students with Credit Cards To have credit card debt as a adult with a stable job is one thing but to be a struggling college student with it is another. Credit card debit now has a major effect on college campuses as well. A lot of students are able to take care of credit cards well while most end up in a lot of debt. The main reason for this is because the student’s aren’t given enough knowledge on paying their debt on time as well as the credit card companies that harass college
Money, in the physical form, is rapidly dying and in its place credit and debit cards are increasingly dominating the purchases of many American consumers. The concept of the credit card dates back to the late 1800's, while the modern credit card took form in 1966. Since then credit card use has exploded (Woolsey par.1-2). Today, over half of the United States' population owns at least two credit cards. The United States should become a cashless society because the government would ultimately save
caused Cindy to have trouble sleeping at night. She had problems at both home and work. She also had credit card debt that she was struggling to pay. Cindy had a credit card balance of over $10,000. Cindy did not think that she would end up with credit card debt because she had a good-paying job and a good credit score. She paid for a Caribbean cruise that she took with her husband with her credit card. She thought that she would be able