CREDIT CARDS
Welcome to The Card Guide
Welcome to CardGuide.co.uk, a UK credit card comparison site. Listed below are some of the most popular types of credit card offers in the UK, from balance transfer credit cards to cash back offers. Whatever you are searching for, we will have something suitable for you.
If you wish to transfer your current credit card balance to an introductory 0% balance transfer offer we have a host of offers that will suit. Normally, these offers now have a balance transfer fee or charge associated with them.
A popular credit card choice is now a 0% credit card which offers a 0% interest rate on any purchases that you make, great for any spending spree.
If you are one of the fortunate few that manage to clear their credit card balance every month, a cash back credit card may be the right choice for you.
We have the latest credit card news and are packed full of useful articles on choosing and using your next credit card.
The Credit Card Lowdown
It is over 40 years since credit cards were first launched in the UK, Barclaycard being the first and, at the time the only card, in. Initially the bill having to be paid off in full each month so it was more like a charge card. The credit limit at first was £100.
Today you can choose from over 1,500 credit cards with intense competition among card providers. There are cards to suit users of every description, financial background and with any credit history. Virtually anyone can own a credit card owner these days, making life more convenient for everyone. A credit card enables you to borrow money for nearly two months without having to pay interest on it. By using your cash wisely in that time you could actually make money at the same time as you’re borrowing it.
The most sensible credit card users pay off their bill in full each month so they’re avoiding any interest charges. Even if you can’t do that there are deals available to enable you to take your credit-free period to much longer than the 50-60 days available as standard. These deals can be 0% interest on purchases lasting for as long as a year, or more prevalent are deals that allow you to transfer an outstanding debt from one card to another and get 0% interest for a year or more. Sadly, there is usually a balance transfer fee of up to 3% attached.
If possible it is really best to use a credit card as a convenience – to buy goods or services with it, and to pay off the balance in full when it’s due. You’ll then have to pay no interest, but you’ll have delayed paymentyou’re your purchase.
Something you won’t get from cash are valuable rights to protect many of your purchases with a credit card. Any purchase you make with a credit card from £100 to £30,000 will give rights under Section 75 of the Consumer Credit Act. It means that when you make a purchase with your credit card, you have a contract with both the vendor and the issuer of the card, and they have equal liability should anything go wrong. Thus, you could take action against either of them to receive compensation if necessary, for example if a company goes bust before you get your goods.
Some cards give you free purchase protection, which covers you against items bought on the card being lost, stolen or damaged with a period of typically 100 days from purchase.
Another benefit some cards offer is price protection. If you see an item after you’ve bought the same at a cheaper price, you can claim back the difference. Claims can be from £10 to £1,000, but may be subject to a small excess. You may also get free extended warranties or different types of travel insurance with your card.
Applying for credit cards is fairly straightforward, but if you’re interested in a balance transfer you’d be wise to plan for it in advance. Card providers will check information held about you by credit reference agencies before approving your card. Your application form must tie up with what’s on your credit history, so there’s no point in exggeration or being “economical with the truth” just to try and get a card.
Get Yourself A Decent Credit Card
There are some big-name credit cards that might charge the earth for you to have the privilege of carrying their name in your wallet. Most of them are not worth the extra fees. But what makes a card worth its salt? And what steps should you take in choosing the right card?
Firstly you need to make sure you get a rate and the features that suit your needs. You certainly do not want high standard interest rates or ridiculously high charges for withdrawing cash, or other, hidden fees. Another apparently enticing feature is a low monthly minimum repayment (MMR). This is not a financially healthy choice as the MMR can be less than the interest due on the card, so your debt will continue to mount up – even if you spend no further money on your card! Don’t get a credit card with an MMR of less than 2.5%. The mounting debt will only benefit the card provider – not you in any way. If ever there’s a possibility that you might have to pay the MMR, because of your difficult financial circumstances, then choose a card with an MMR of 4% or 5% - the highest you can get. In a survey carried out in summer 2006, the following were some of the more popular card providers with cards having an MMR of only 2%:The AA, Barclaycard, Cahoot, Co-operative Bank, Egg, Goldfish, Halifax, Lloyds TSB, Marbles, Morgan Stanley and Smile.
Common Credit Card Mistakes
With credit cards now outnumbering people in the UK you would be right to assume that not everyone in this country uses their credit cards either correctly or wisely. But what are the most common mistakes that credit card holders make when using their credit cards?
In the circumstances that you have a weak credit rating and an outstanding credit card balance, you would be sensible to apply for a 0% balance transfer card. These make interest-free credit easy. If you can’t pay your credit card bill off in full, then a transfer to a 0% balance transfer card is a good way to bring your outstanding bill down to zero. These first came into being over six years ago, and have changed a lot since then. It is important to know what you getting into, how much the transfer fee is, how long the zero percent interest lasts, and critically, to avoid making any other purchases on the new card, because they will NOT be at zero percent.
Quick Balance Transfer Guide
Balance transfers allow card holders to transfer the money they owe to their existing credit card to another, usually at a special rate of interest. The new credit card company pays off the old credit card debt and transfers it to the new card. This article will tell you how to play the game.
Another way that card companies make money is to get you to take out payment protection insurance. It is a waste on money – avoid it. It can increase the cost of your credit card spending by about 9.15% each year – and that’s even if you pay off your credit card bill in full every month. This insurance is supposed to meet your monthly repayments if you have an accident or are sick, or unemployed and cannot work. It would also pay off your balance if you were to die. Sadly, the true cost of providing this insurance is only around 3% of your bill – not 9.15%. Avoid this type of insurance.
Payment Protection Cover For Your Credit Card - Is It Worth The Cost?
Payment protection cover states quite clearly what it is but what are the ins and outs of the policy and is it worth considering taking out payment protection cover on your credit card.
Just possessing a decent credit card that will not rip you off is not the full answer of course. It is up to you to control your spending. In this debt-ridden society that Britain has become that is difficult. Ultimately people have to be responsible for their own actions – and their own spending.
Welcome to CardGuide.co.uk, a UK credit card comparison site. Listed below are some of the most popular types of credit card offers in the UK, from balance transfer credit cards to cash back offers. Whatever you are searching for, we will have something suitable for you.
If you wish to transfer your current credit card balance to an introductory 0% balance transfer offer we have a host of offers that will suit. Normally, these offers now have a balance transfer fee or charge associated with them.
A popular credit card choice is now a 0% credit card which offers a 0% interest rate on any purchases that you make, great for any spending spree.
If you are one of the fortunate few that manage to clear their credit card balance every month, a cash back credit card may be the right choice for you.
We have the latest credit card news and are packed full of useful articles on choosing and using your next credit card.
The Credit Card Lowdown
It is over 40 years since credit cards were first launched in the UK, Barclaycard being the first and, at the time the only card, in. Initially the bill having to be paid off in full each month so it was more like a charge card. The credit limit at first was £100.
Today you can choose from over 1,500 credit cards with intense competition among card providers. There are cards to suit users of every description, financial background and with any credit history. Virtually anyone can own a credit card owner these days, making life more convenient for everyone. A credit card enables you to borrow money for nearly two months without having to pay interest on it. By using your cash wisely in that time you could actually make money at the same time as you’re borrowing it.
The most sensible credit card users pay off their bill in full each month so they’re avoiding any interest charges. Even if you can’t do that there are deals available to enable you to take your credit-free period to much longer than the 50-60 days available as standard. These deals can be 0% interest on purchases lasting for as long as a year, or more prevalent are deals that allow you to transfer an outstanding debt from one card to another and get 0% interest for a year or more. Sadly, there is usually a balance transfer fee of up to 3% attached.
If possible it is really best to use a credit card as a convenience – to buy goods or services with it, and to pay off the balance in full when it’s due. You’ll then have to pay no interest, but you’ll have delayed paymentyou’re your purchase.
Something you won’t get from cash are valuable rights to protect many of your purchases with a credit card. Any purchase you make with a credit card from £100 to £30,000 will give rights under Section 75 of the Consumer Credit Act. It means that when you make a purchase with your credit card, you have a contract with both the vendor and the issuer of the card, and they have equal liability should anything go wrong. Thus, you could take action against either of them to receive compensation if necessary, for example if a company goes bust before you get your goods.
Some cards give you free purchase protection, which covers you against items bought on the card being lost, stolen or damaged with a period of typically 100 days from purchase.
Another benefit some cards offer is price protection. If you see an item after you’ve bought the same at a cheaper price, you can claim back the difference. Claims can be from £10 to £1,000, but may be subject to a small excess. You may also get free extended warranties or different types of travel insurance with your card.
Applying for credit cards is fairly straightforward, but if you’re interested in a balance transfer you’d be wise to plan for it in advance. Card providers will check information held about you by credit reference agencies before approving your card. Your application form must tie up with what’s on your credit history, so there’s no point in exggeration or being “economical with the truth” just to try and get a card.
Get Yourself A Decent Credit Card
There are some big-name credit cards that might charge the earth for you to have the privilege of carrying their name in your wallet. Most of them are not worth the extra fees. But what makes a card worth its salt? And what steps should you take in choosing the right card?
Firstly you need to make sure you get a rate and the features that suit your needs. You certainly do not want high standard interest rates or ridiculously high charges for withdrawing cash, or other, hidden fees. Another apparently enticing feature is a low monthly minimum repayment (MMR). This is not a financially healthy choice as the MMR can be less than the interest due on the card, so your debt will continue to mount up – even if you spend no further money on your card! Don’t get a credit card with an MMR of less than 2.5%. The mounting debt will only benefit the card provider – not you in any way. If ever there’s a possibility that you might have to pay the MMR, because of your difficult financial circumstances, then choose a card with an MMR of 4% or 5% - the highest you can get. In a survey carried out in summer 2006, the following were some of the more popular card providers with cards having an MMR of only 2%:The AA, Barclaycard, Cahoot, Co-operative Bank, Egg, Goldfish, Halifax, Lloyds TSB, Marbles, Morgan Stanley and Smile.
Common Credit Card Mistakes
With credit cards now outnumbering people in the UK you would be right to assume that not everyone in this country uses their credit cards either correctly or wisely. But what are the most common mistakes that credit card holders make when using their credit cards?
In the circumstances that you have a weak credit rating and an outstanding credit card balance, you would be sensible to apply for a 0% balance transfer card. These make interest-free credit easy. If you can’t pay your credit card bill off in full, then a transfer to a 0% balance transfer card is a good way to bring your outstanding bill down to zero. These first came into being over six years ago, and have changed a lot since then. It is important to know what you getting into, how much the transfer fee is, how long the zero percent interest lasts, and critically, to avoid making any other purchases on the new card, because they will NOT be at zero percent.
Quick Balance Transfer Guide
Balance transfers allow card holders to transfer the money they owe to their existing credit card to another, usually at a special rate of interest. The new credit card company pays off the old credit card debt and transfers it to the new card. This article will tell you how to play the game.
Another way that card companies make money is to get you to take out payment protection insurance. It is a waste on money – avoid it. It can increase the cost of your credit card spending by about 9.15% each year – and that’s even if you pay off your credit card bill in full every month. This insurance is supposed to meet your monthly repayments if you have an accident or are sick, or unemployed and cannot work. It would also pay off your balance if you were to die. Sadly, the true cost of providing this insurance is only around 3% of your bill – not 9.15%. Avoid this type of insurance.
Payment Protection Cover For Your Credit Card - Is It Worth The Cost?
Payment protection cover states quite clearly what it is but what are the ins and outs of the policy and is it worth considering taking out payment protection cover on your credit card.
Just possessing a decent credit card that will not rip you off is not the full answer of course. It is up to you to control your spending. In this debt-ridden society that Britain has become that is difficult. Ultimately people have to be responsible for their own actions – and their own spending.
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