The Best Rewards Credit Cards! Cheap Rewards Credit Cards
Credit Cards! Get The Best Credit Card Here! Compare The Best Credit Cards Now! | Get A Credit Card Here Now! Choose The Best Credit Card Available! Compare Credit Cards Today and Get a Cheap Credit Card With Low APR!
Credit Cards! Get The Best Credit Card Here! Compare The Best Credit Cards Now!
Get A Credit Card Here Now! Choose The Best Credit Card Available! Compare Credit Cards Today and Get a Cheap Credit Card With Low APR!Skip to content
Credit Cards are great but can be a debt trap if you are not careful.
In the last few years credit cards have spread all around the world and have got really popular. Whether you want to book a hotel or flight online, want to pay your bill in the restaurant or want to lend a car on your holiday, you always can use your credit card. Credit cards are accepted worldwide and have many advantages compared to debit cards. If your credit card gets stolen and you call your bank to freeze your account you are only liable for the small amount. The main advantage of a credit card is the credit limit. It gives you the possibility to make an expensive purchase without taking an additional loan.
You should be aware that a credit card credit limit can be a debt trap. A credit card company will charge you a high interest rate on the money you owe them. However, to get accepted by a credit card provider you have to be over 18 years old and your credit rating shouldn’t be too bad. The better your credit history, the more likely you are to be accepted for a credit card.
There are many special credit cards, like charity credit cards, football credit cards or student credit cardsThe rage is unwieldy and it is very difficult to find the perfect credit card.
You have to pay attention on different fees and conditions.
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Many people often get confused as to whether they should get a credit card or not. While credit card debts are the bane of many people’s lives people also thrive on the flexibility and ease of paying with a credit card. However credit cards are not for everyone. The reason so many people use credit cards is because of their convenience. Paying at a shop is much easier with card that takes no immediate bit out of your actual bank account. The fact the most shops accept Visa, MasterCard and other major credit card brands makes it even more convenient. Lunch tabs and hotel bookings can be taken care of with the simple swipe of a credit card. Whatever you want, with a credit card you can have.
However there are some drawbacks to getting credit cards. The most dangerous part of getting a credit card is not paying them off on time and for a lot of people this problem is a constant temptation despite its obvious negative consequences. And the problem is it is hard to get out of debt once you are in it. Once you fall behind on one of your payments, the climb back to a debt-free account becomes harder and harder. The fees you are charged for late payments along with the increasingly high interest rates build up faster than you can imagine and you will find yourself making monthly payments that will only cover your charges. Therefore as with all financial products make sure you can handle a credit card before you jump into getting one!
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Credit Cards are sometimes referred to as plastic money. Almost everyone in the UK will have some type of payment card and they are probably one of the most popular financial products in the world. Cards are convenient, easy to use and are much safer than carrying around large sums of cash. As the preferred method of spending for millions and with worldwide acceptance you can use credit cards to make payments over the internet, in shops, restaurants and other outlets. There are a large variety of credit cards available in the UK.
With a credit card you are given a line of credit which essentially means that you are borrowing money. All credit cards have a set credit limit which is the maximum amount of credit you can spend. This is predetermined by the card provider and is based on your individual situation. Generally speaking, the better your credit history, the more credit you are likely to be given.
Credit cards record each purchase you make and then the card provider will send you a monthly bill for everything that you bought. You then have to pay back the credit amount that you have used. Whenever you borrow money, in order for the lenders to profit, you will have to repay the amount that you borrowed plus an additional interest. When you take out a credit card you are given an interest rate. This rate is usually given as the total percentage that you will pay over the year and is known as the Annual Percentage Rate or APR.
Credit cards ultimately give you more financial freedom. They allow you to pay for expensive purchases in small monthly instalments, meaning that you can afford to buy things without taking out a loan. Also, so long as they are used correctly they are a great way to pay for something that is perhaps more than the amount of money that you actually have. Using a credit card correctly and ensuring that you make payments on time can help improve your chances of future borrowing. Credit cards are also very secure because your purchases are usually better protected than with other types of cards. Furthermore, your purchases are usually insured.
Leave a comment The Credit Cards Drawbacks
Be careful to avoid falling into debt and it is important to remember that you are still essentially borrowing money that is not yours. If you fail to pay your credit card bill, you will have to deal with interest charges and credit card debt can easily spiral out of control. You will also damage your credit score which is likely to have some affect on your financial future when applying for other products and services. With this in mind you should never use a credit card as an easy way of borrowing money.
You need to make sure you read the terms and conditions of the card thoroughly and look out for any annual fees and additional charges such as late payment fees, transaction fees and how much they charge you for withdrawing money from a cash machine.
Leave a comment Getting Approved For A Credit Card
Getting approved for a credit card has never been more difficult, especially considering the current economic climate. The financial crisis and recession means that banks have changed the way they decide to lend money. Lenders have become more selective regarding whom they grant loans and credit to, unfortunately this has resulted in more and more people being turned down for the products that they want. Anyone who has had any credit problems in the past will struggle to have access to normal credit cards. A bad credit history will mean you are likely to have a low credit rating and will affect whether or not you are approved. However, no credit history at all will also stand in your way as well as a low income or being self employed.
Your credit file contains all your financial information. Anytime you apply for a loan or credit card, lenders and credit card providers will look at your credit history and credit score when deciding on whether or not to approve you for a loan or grant you a line of credit. Providers will assess how much of a risk you are considered to be. With this in mind, as your credit file is so pivotal in the decision process, it might be worth checking over your report. You can use a credit reference agency to get access to your file. Make sure the information inside it is correct and up to date.
Unfortunately, you can easily damage your credit report. If you have had serious financial problems in the past such as having been declared bankrupt, defaulted on loans, have had any county court judgements, then you will definitely struggle. Things like this can stay on your file for six years. Even minor mistakes like missing payments on credit cards or personal loans will be used against you.
Leave a comment What to do if you have bad credit history?
Fortunately, there are credit card providers who won’t just reject you on the basis of past financial difficulties. If you have been rejected for a standard credit card, you still have options. Bad credit credit cards are aimed at people with a bad credit history who have been refused elsewhere. They are also for people who have little or no credit. You are more likely to get accepted for one of these cards in comparison to standard credit cards and you can use them as you would any credit card as they have all the same features and advantages.
A great thing about these cards is that they are designed to help you improve and rebuild your credit history as many of them have credit rebuilding facilities. They can also be suitable for those who want to build a credit history from scratch. So long as the card is used sensibly it will help you to repair some damage but please remember that this will take some time. Ultimately however, this will put you in a better footing when apply for financial products in the future.
The main drawback are the high interest rates which are likely to be significantly higher than other credit cards. This is because you are presumed to be more of a risk by the card provider due to your credit history, or lack of it. For this reason the credit limit you are given is likely to be lower. As with any credit card you have to make sure you don’t miss payments which will help you avoid potentially heavy interest charges.
Leave a comment What are the alternatives?
If you don’t want to risk going into debt then a prepaid card could be an ideal solution. A great aspect of these cards is that they have all the advantages of a standard credit card in that you can use them online, in shops, restaurants and withdraw money from cash machines. The main advantage of these types of cards is that you can personally manage the amount of money on the card. They work like top up cards; you preload the card with funds which you then spend as you please and once the funds run out you have to top it up to use it again. This gives the user more control over their spending which is great for anyone who needs to stop bad spending habits.
With prepaid credit cards you are not being given a line of credit so you are not borrowing any money. This means that there are no credit checks and anyone can get one. These cards are well suited to those who have a bad credit score, are too young for a standard credit card or have a low income. If you don’t have a bank account a prepaid card is a way for you to withdraw money and set up direct deposits. As you are not borrowing any money, but are simply spending whatever you decide to put on the card, you won’t ever have to deal with expensive interest or bank charges or worry about paying off credit card bills each month. However, please note that there may be some hidden charges with these cards such as cash withdrawal fees and some cards might charge you a small amount for issuing you the card or you might even find that some providers charge you a monthly fee. You need to take this into consideration when looking for the best card for you.
Prepaid cards are very secure and can have useful recovery facilities whereby if you lose the card you can order a replacement and any funds saved can be transferred onto the new card. When deciding on the right prepaid card for you it is worth taking the time to research the market.
Leave a comment How To Choose The Card For You?
You need to make sure that you are getting the best card for your finances. With so many different types of credit cards on the UK market you need to make sure you are getting the best deal. Here are some tips to help you do this:
- Firstly, if you are thinking about taking out a credit card you need to consider your budget and be completely be sure you can afford make the monthly payments so that you do not risk ending up in debt.
- There are many types of credit cards so you need to think about what sort of card you want and what you want to use it for. As well as standard credit cards, If you are a student then you might want to think about student credit cards, there are business credit cards for corporate needs and reward credit cards that offer specific reward programmes that can appeal to a variety of lifestyles.
- You need to think about your financial history and your credit rating. Unfortunately, as mentioned you credit report will affect whether or not you are approved for a card. If you know you have a bad credit history or little or no credit then you might want to consider credit cards for people with bad credit or prepaid cards. Before you apply you also need to make sure that you meet the requirements which can depend on your age and income.
- It is really important that you take the time to compare different cards. The interest rate will obviously be the most important aspect to compare but make sure you look at all of the features of each product. There might be additional offers, rewards and benefits and some providers even offer some great introductory deals but remember to look at what happens when this period ends.
Before you apply for any card make sure you know the amount of any fees and under what circumstances these fees apply. Common fees include late payment fees, fees for going over your credit limit and annual fees.
Last Updated (Friday, 04 July 2014 12:00)
Rewards Credit Cards in New Zealand
We can see on these pages that there are a number of ways in which one can benefit from using one's credit cards. Free air miles, cash back, nectar points - there are many other ways to benefit from a credit card other than just receiving a credit line. Around the world, especially the western world, similar schemes are in place. Reward credit cards are available in New Zealand; as well as Australia, and reward schemes are similar to the UK. If you are a frequent flyer for example, you could benefit from a card that rewards you with air miles every time you use it - this could enable you to take dream trips abroad for free.
Last Updated (Thursday, 17 April 2014 09:45)
Reward credit cards – credit cards with a Plus
A reward credit card works exactly like a traditional credit card. One can pay in shops and restaurants with it worldwide, it is possible to withdraw cash, go shopping on the Internet, rent cars and book events. And like any other credit card the amount of the money you spend will be only booked off your card account at the end of the month. This way one is more flexible and there is no need to carry lots of cash around. A reward credit card will also protect your purchases with a special insurance against damage and theft for some time.
But a reward credit card offers one more thing over other credit cards, as one can earn something when spending money with it. This is because a reward credit card offers either discounts on services and goods, or one can collect air miles, or take advantage of bonus point systems which one can redeem against a selection of special offers. Some reward credit cards allow you to give to charity and in some cases one can even credit the collected rewards back to one's card account. But one should never forget that a reward credit card does not make one's purchases cheaper and therefore should always make sure not to spend more money than one actually has.
Last Updated (Thursday, 17 April 2014 09:47)
Earn something while paying with a reward credit card
Worldwide, you can go shopping with a credit card as well as book events, rent cars and withdraw cash at cash machines around the globe – the amount will be booked off your account at the end of the month. This is convenient and in addition, a little insurance will protect your purchases against theft and damage for some time. A reward credit card will give you these benefits as well: you can pay with it worldwide, there is high security and, like with any other credit card, there will be a credit limit and an annual fee.
The difference of reward credit cards is that there will be discounts on goods and services. These can be for travelling, taking petrol or renting cars. Many providers of reward credit cards will also give you the opportunity to collect points which you can later redeem at different partner businesses. Sometimes, air miles will be offered for them or you can buy goods or give to charity. Otherwise a reward credit card works like a traditional credit card and everybody who uses it should always make sure to keep overview of one's outgoings to avoid unpleasant surprises at the end of the month.
Last Updated (Thursday, 17 April 2014 09:48)
Reward yourself with a reward credit card
With reward credit cards you can earn from your purchases. One of the best things about reward credit card is that this. When you have cash back credit card this is especially the case because with every pound you spend on your card, you get a corresponding point. When you have collected these points, you can either exchange it from a credit card’s redemption shop or you can use the cash to buy any products or anything you like. Furthermore reward credit cards often offer you rebates with every purchase that you make. This means that every time you buy an item a certain percentage is given back to your account. And similarly to cash back points, rebates can be used to make new purchases or pay off your credit card balance.
However there are some disadvantages of reward credit cards. They have a very high annual fee. This is why it is important to find ones with low annual fee or no annual fees at all. Moreover aside from annual fees, interest rates on reward credit cards can also be very high. Most reward credit cards come with variable interest, so the rate you’re paying today can become really expensive in time. What you have to make sure of is you don’t get caught out if when you first get a reward credit card you are offered really low introductory rate but rises dramatically once the introductory period has expired. So if you are thinking about getting a reward credit card make sure you read the terms and conditions this way you will not have any unexpected surprises a few months after receiving it.
Last Updated (Thursday, 17 April 2014 09:51)