Competitive accounts and credit cards ‘can make the most of money’

Taking the time to seek out competitive UK accounts can help people make their money work harder for them, it has been suggested.

Those Britons who choose to compare accounts will find they can source products which have competitive rates of interest attached to them as well a host of other perks, one writer claims.

Indeed, Serena Cowdy claims that there are a number of current accounts presently on the market that offer a rate of return “head and shoulders” above that currently attached to saving accounts.

Writing in an article for lovemoney.com, she acknowledges that the Alliance & Leicester Premier Direct Current Account offers an “enormous” six per cent interest rate on balances of up to £2,500.

However, to benefit from this 12-month fixed savings rate, a minimum of £500 must be paid into the UK account every month and all direct debits and standing orders must be transferred to consumers’ existing current account. Those looking to compare accounts may also be interested to hear that if their balance exceeds £2,500, the interest rate will fall to 0.1 per cent.

Meanwhile, the Abbey 6% Current Account is almost identical to the Alliance & Leicester Current Account. However, at least £1,000 needs to be paid in on a monthly basis to receive the six per cent interest rate.

The writer also put forwards that using credit cards which offer cashback programmes can help people to earn money. For instance, the American Express Platinum Cashback Credit Card provides five per cent cashback for the first three months, a rate she claims is “easily the best on the market”.

But there is a catch that those looking to compare accounts may wish to bear in mind. To receive any cashback, consumers must have to spend at least £3,000 on their card over the course of a year.

She also points towards the OnePulse card provided by Barclaycard which offers five per cent cashback for expenditure on Transport for London services.

However, the use of cashback credit cards should only be used by those with a good credit rating and are confident they can clear off their balance at the end of each month.

Those looking to take advantage of reward programmes could be interested in a previous lovemoney.com piece where Ms Cowdy claimed that using a Tesco credit card will allow consumers to receive five Clubcard points for every £4 spent with the card at a Tesco store.

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Looking for Home Grown Credit Cards? – Australia Based Comparison Sites Can Help

Are you an Australian who wants to get an Aussie credit card? If you are you are certainly not alone. When you are looking for a good credit card from an Australian credit card company you need to know the best place to start. Today most people looking for credit cards, Australia based or otherwise tend to start their search online.
When you look for credit cards online it could not be easier. To start just type the words ‘credit cards Australia’ into your search engine of choice. This will bring up many different websites which offer credit cards. Australia based companies will be the first on the list as these fit the search terms exactly. You will be presented with credit card companies that are not from Australia, but you can discount these.
So go straight to the websites that offer credit cards in Australia as these will be the best match for you and your needs. If you want to you can take a look at each site individually and note down the pros and cons of each credit card. While some people will always use this method to find credit cards in Australia it actually takes an awful lot of time and effort to do so. Unfortunately there are not many people who can afford to spend a great deal of time searching for credit cards.
To really cut down the amount of time spent scouring the Internet for credit cards in Australia you need to use a comparison website. Comparison websites work with credit card companies and put the details of various cards online. When you are on this site you can refine your search to the type of credit card that you are actually looking to apply for. For example if you would like a credit card that gives you air miles you should look for cards that offer these as a reward.
As soon as you have found credit cards that meets your requirements you can start to compare them against each other. Not all credit cards in Australia are the same as each other. Some will have lower rates of interest than others whilst some will offer incentives if you transfer a current credit card balance onto them. However the ones that you choose to compare will be up to you and your personal preferences.
When it comes to compare in credit cards most of the comparison sites will allow you to do this side-by-side. This means you can select the cards you wish to look at and then compare them based on what they will offer you. Using this method to find which is the best credit card for you is excellent if you want to really search the entire market. In fact when you look at several different credit cards you can be sure that you are getting the very best deal. So if you want to credit cards in Australia go online and begin your search as soon as possible and you will soon find what you are looking for.

Credit Cards Australia helps you compare credit cards on offer before applying for the one that fits your needs. With more than 200 cards available in Australia, there’s bound to be one to suit you. . Visit us for Australia’s leading credit card comparisons

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Introductory Rate Credit Cards: Few Popular Features

Using introductory rate credit cards has become a popular way for UK borrowers to manage credit card debt. Introductory rate credit cards offer borrowers a preferential interest rate when they first sign up for a new card. There are three main ways in which this can happen. All of the ways offer significant advantages for credit card borrowers.

0% Balance Transfers

The one that is most appealing to consumers is the 0% balance transfer offer. This offers a nil rate of interest on balances transferred to a particular credit card. There is usually a limit to how long this offer applies, but this can vary from three to 12 months, so most people will be able to find an offer that suits them.

The trick to using 0% balance transfers effectively is to move balances from card to card before the expiry of the offer period. This is known as rate surfing. Credit card companies don’t like it, because it loses them hundreds of thousands in interest. For consumers, however, rate surfing offers the chance to clear some or all of an outstanding debt. This is because payments to 0% cards reduce the debt each month instead of being applied to interest.

Fixed Low Balance Transfer Rate

Another typical introductory credit card incentive is a fixed low interest rate for the lifetime of a balance transfer. That means that the lower interest rate will apply for as long as the debt remains on the credit card. For example, if the standard variable interest rate is 13.9%, a credit card issuer might offer a reduced rate of 4.9%.

This is a good option for borrowers who have a loan or debt on which they are paying a higher interest rate. Transferring to this kind of deal can save consumers hundreds of pounds and can help them to repay debt more quickly. With this kind of deal, there is little advantage to rate surfing unless another card issuer is offering a better preferential rate.

Permanent Low Rate

A third type of credit card incentive offers a low rate on spending on the card. This is usually a few percentage points below the standard variable rate. This type of offer can be a good option for consumers who spend regularly on their credit cards. This is because most balance transfer offers have higher rates for other types of transactions such as purchases, cash withdrawals and credit card cheques.

Other Features Of Introductory Rate Credit Cards

As if low rates were not enough, many credit card issuers offer other incentives to new customers. These include:
- the ability to contribute to charity by using a particular credit card
- discounts off purchases from particular manufacturers
- cash back on purchases
- additional insurance on purchases or travel

Many credit card companies have got wise to rate surfing and now apply a one-off charge for balance transfers. It is worth shopping around to get the best combination of interest rates and other incentives.

Introductory Rate Credit Cards: Some Popular Features

Using introductory rate credit cards has become a popular way for UK borrowers to manage credit card debt. Introductory rate credit cards offer borrowers a preferential interest rate when they first sign up for a new card. There are three main ways in which this can happen. All of the ways offer significant advantages for credit card borrowers.

0% Balance Transfers

The one that is most appealing to consumers is the 0% balance transfer offer. This offers a nil rate of interest on balances transferred to a particular credit card. There is usually a limit to how long this offer applies, but this can vary from three to 12 months, so most people will be able to find an offer that suits them.

The trick to using 0% balance transfers effectively is to move balances from card to card before the expiry of the offer period. This is known as rate surfing. Credit card companies don’t like it, because it loses them hundreds of thousands in interest. For consumers, however, rate surfing offers the chance to clear some or all of an outstanding debt. This is because payments to 0% cards reduce the debt each month instead of being applied to interest.

Fixed Low Balance Transfer Rate

Another typical introductory credit card incentive is a fixed low interest rate for the lifetime of a balance transfer. That means that the lower interest rate will apply for as long as the debt remains on the credit card. For example, if the standard variable interest rate is 13.9%, a credit card issuer might offer a reduced rate of 4.9%.

This is a good option for borrowers who have a loan or debt on which they are paying a higher interest rate. Transferring to this kind of deal can save consumers hundreds of pounds and can help them to repay debt more quickly. With this kind of deal, there is little advantage to rate surfing unless another card issuer is offering a better preferential rate.

Permanent Low Rate

A third type of credit card incentive offers a low rate on spending on the card. This is usually a few percentage points below the standard variable rate. This type of offer can be a good option for consumers who spend regularly on their credit cards. This is because most balance transfer offers have higher rates for other types of transactions such as purchases, cash withdrawals and credit card cheques.

Other Features Of Introductory Rate Credit Cards

As if low rates were not enough, many credit card issuers offer other incentives to new customers. These include:
- the ability to contribute to charity by using a particular credit card
- discounts off purchases from particular manufacturers
- cash back on purchases
- additional insurance on purchases or travel

Many credit card companies have got wise to rate surfing and now apply a one-off charge for balance transfers. It is worth shopping around to get the best combination of interest rates and other incentives.

Tips to Get a Lower Credit Card Interest Rate

An old proverb states that you have not because you ask not. No where is this more true than in the banking industry. Banks and Financial Institutions are businesses that have to make a profit. If a client is willing to settle for a certain interest rate instead of asking for a better one, they will give them the higher rate. If you want a lower credit card interest rate, ask for it.

If you call your credit card company and ask for a lower interest rate, 80 percent of the time they will say yes. There is too much competition in the market place and credit card companies need their customers, especially the good customers and in order to keep them they will give them what they ask for. When it comes to a choice between making a little less profit or making none at all–many credit card companies will choose the latter, giving you lower credit card interest rather than risk losing you to another company that will.

Of course, customers who have historically paid what they are supposed to when they were supposed to are most likely to get their interest rates cut, and cut lower, just for asking for the reduction compared to someone who consistently pays the minimum or misses the payments altogether or who frequently calls to complain about items on their bill. If you are a good customer, a company wants you to hang around.

If you are prepared to switch credit card companies if your credit card company does not give you a better rate then your chances of getting what you want increase drastically. Don’t make a promise you don’t intend to keep and if you are contemplating switching to another card with a lower interest call your current company and see if they are willing to match or even beat the competitor’s offer you are considering.

The worst thing that could happen would be that they tell you no, but most likely you will get what you ask for. Don’t just find one source for information on credit cards and interest rates but do your homework so you are aware of various perspectives. In this information age we live on, there’s a lot of valuable input you can find on any subject so take your time to find out what you need. Therefore, we have gathered some information for you to save you some time since research is always a difficult task. Yet without proper research there is no way to acquire the material you need to understand.

How to be a credit card tart

You didn’t think you’d ever want to be a tart, right?

Well unfortunately credit cards have had their Sex and the City moment; engaging in carefree, guilt-free credit card switching is in vogue (if not in Vogue).

Clever consumers (tarts) avoid paying interest on their credit card balance by transferring the debt from one card to another, thereby using their repayments to reduce the overall debt rather than just paying interest.

It’s important to do this quickly to avoid interest so those cardholders in the game of transferring balances from one 0% balance transfer credit card to another will breathe a sigh of relief at the news that the number of available cards has been dramatically increasing.

Any credit card comparison the number of issuers offering 0% interest on balance transfers for at least ten months has increased by 20%.

Over 72 lenders are now competing to take on cardholder debt – up from 60 just 12 months ago.

In the rush to entice consumers, some card companies are offering cards with a 15-month interest-free period.

You should also be aware of the fees involved.

Transferring a balance will incur a handling fee, usually of 2.9% of the transferred sum.

However, this loses significance when the potential savings on interest are factored in to the equation.

It’s also important to remember not to spend on a 0% balance transfer credit card.

Customers solely seeking the best deals for 0% interest on new purchases are well catered for by a swathe of tempting new offers.

Over the last year, there has been a wallet-tingling 450% increase in the number of card companies offering 0% interest cards on purchases for at least ten months.

The downside to some of them though is that the 0% only applies to those extravagant sorts who only ever make purchases over £100.

Another example is the Sainsbury’s credit card which also offers a 12 month 0% purchase deal. The catch here is that this is only valid for purchases made in Sainsbury’s. Those made elsewhere are only free of interest for nine months.

It’s also worth bearing in mind that you’ll need to move from one card to another as quickly as possible. For this reason instant decision credit cards might be useful since you get the credit card much more quickly than with a normal application.

However, you’ll need to be sure that you can apply since rejected applications can harm your credit score in the future.

The number of loans given to people wanting to consolidate personal debt decreased during 2009, new figures show. The statistics from Sainsburys Finance show that just over 2 per cent (2.2 per cent) of loans taken out last year were to help with finances, compared to over 5 per cent (5.28 per cent) in 2008 and nearly 8 per cent (7.74 per cent) in 2007. This suggests that more people have been paying off loans whilst interest rates are low, rather than just consolidating them. This is backed up by Bank of England figures, which show that for five consecutive months in 2009, repayments outstripped new unsecured consumer credit. However, with total consumer credit at over £200bn (£225bn), there are still many Britons with personal debt problems who need help with finances. Kevin Still, director of Atlantic Financial Management says: “Interest rates on personal loans have risen dramatically and the difference between the interest rate on a credit card (average 18.8% APR) and a loan can be marginal, so repaying the balance on credit card debts may be tough. “Lenders have also tightened lending criteria, so many historically creditworthy borrowers are now struggling to be accepted. For those unable to clear debt then there has been a rise in demand for managed debt solutions like Debt Management Plans (DMPs) and Individual Voluntary Arrangements (IVAs).”

Credit Card Users ‘missing Out On Reward Bonuses’

Many consumers are missing a trick when it comes to cashing in on credit card loyalty schemes.

A number of Credit Cards offer loyalty schemes that reward customers with benefits in a bid to win their custom, but research suggests that consumers are failing to take advantage.

With the average household now becoming more aware of their finances and savvy with their spending, the Barclaycard Freedom rewards credit card couldn’t have come at a better time – launched on March 17 with more than 30,000 retail outlets invited to join, including Shell, Pizza Express, Flight Centre, LA Fitness and Just Tyres.

The scheme allows Barclaycard credit card customers to benefit from double reward points worth 2% of spending on card purchases made up until 17 May.

Card holders can view their reward balance when making a payment before entering their PIN.

One of the main attractions of the Barclaycard Freedom scheme is ease of use, as it gives consumers the opportunity to instantly benefit from a reward, whereas most rival cards tend to provide vouchers or go through complex procedures in order to access rewards.

While major supermarkets and most service stations have yet to join Barclaycard Freedom, loyalty schemes are likely to become a bigger selling point for future credit cards.

Many well known brands have launched their own credit cards offering discounts off their products and services in an effort to broaden their markets and for cross-selling purposes. For example, the Tesco credit card offers its customers increased Clubcard points, while the Sony credit card offers a similar scheme providing users with discounts from Sony branded products.

The BT credit card allows its telecoms customers to save money on their monthly bills when using the card for everyday purchases.

Sam Gooch, at Which4u.co.uk, said: “Reward schemes are coming back into fashion – but always be sure to check out the terms & conditions of each scheme and find the best rewards credit card to suit your spending habits.

“The Tesco Clubcard, for example, would be a great choice for somebody that uses the Tesco stores to buy their groceries, and the fuelling stations to run their car.

“Users can quadruple the value of Tesco spending vouchers under Tesco Rewards at the wide range of partner companies including Virgin Holidays, Cineworld cinemas, Hilton Hotels, and restaurant groups Pizza Express and Prezzo.”

However, experts suggest that cardholders should put more focus on paying off outstanding balances each month before attempting to boost the amount of points they collect

Failing to do so is likely to result in interest charges outweighing any benefits earned from reward schemes.

Sam Gooch said: “Times are changing, and more consumers are steering clear of credit cards and turning to debit cards, which means credit card providers are being forced into making their cards look more attractive by offering better rewards.”

New research from Airmiles – the longest-running rewards scheme operating for more than 20 years, has found that 70% of Britons admitted to missing opportunities that could have boosted their rewards balance.

More than half of the 30m credit card holders in the UK own cards that offer no reward schemes.

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Get the best deal after you compare credit cards at price comparison websites!

Finding the best sort of credit card deals isn’t that difficult in today’s time, especially when price comparison websites are around the corner to take care of all your needs from time to time. However, thanks to rising standard of living of the society, what commoners need is an instrument that can address all their expenses without making much of a fuss for them. Certainly, credit card is one product that excels on this parameter.

Plastic money is always seen as the next big financial instrument that is expected to take-over reins from cash. However, recently it hit a rough patch when liquidity crisis surfaced. Thanks to rising cost of borrowing, people preferred to turn to loan products rather than going to credit card providers as they were under the impression that they charge a huge interest rate on credit used. Ironically, this was true to large extent.

But then when price comparison websites came into picture, things started to change a bit. Now people are willing to compare credit cards without having any qualms about it. What more, prominent players in the industry are giving a chance to their clients to compare master card, compare visa card in one go and that too, without charging a single penny from them.

Thanks to this blossoming industrial trend of comparing deals which has caught pace in recent times, more and more insurance products providers are now tying up with leading names in the price comparison industry just to add an additional prospective source of revenue in their ranks.

However, for people who want to Compare Credit Cards, there are many other things to check before they actually avail them. The whole basic idea behind comparing deals is to ensure that prospective visitors get right deal at a price where he/she does not feel cheated upon. Of course, other important aspects such as interest rates and additional fees also need equal attention on behalf of people interested in buying that particular product. However, keep in mind that interest rates and other conditions may vary from one person to another since, providers do take personal circumstances and repayment ability into account while determining credit limit for the borrower.

Meanwhile, as the prospective buyer compare credit cards while clicking on say, compare visa credit card or compare master credit card button given on the website, he/she automatically saves on time and of course, not to forget the money wasted in meeting several banks and credit card issuance organizations.

Remember, comparing deals online i. e., on these price comparison sites can even have its advantages. As a client, you can stumble upon any special credit card deal that might not be available elsewhere as the provider might have launched the same scheme in the form of a tie-up product with that particular website.

So compare credit cards and push your expenditure down as living lavishly without managing your expenses in today’s time can have serious repercussions.

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Get The Best Credit Card By Using Comparison

What are credit cards?

Credit cards are shiny plastic cards issued by credit card companies.  The card usually contains the name of the cardholder, name of the bank which issued the credit card, an account number, a PIN, an expiry date and a logo such as MasterCard, Visa and others.

It literally allows you to buy goods and services through credit.  You won’t spend cash from your pockets when you use your credit card.

What is credit limit?

A bank will issue you with a credit card having a credit limit.  This means you are only allowed to buy goods and services within that credit limit.  It is the maximum amount of money you could borrow from your credit card. The factors that affect your credit limit include your regular income and also your sources of income.  If you have high salary you can be given a higher credit limit.

What are the types of credit card?

There are many types of credit card to choose from:  student cards, business cards and personal credit cards.

A student card is good for those who are still building their credit history.  It is advisable for students of 18 and above.  Some issuing bank offers low interest rate to those who will apply for this type of card.

Business cards are good for those who own businesses.  It offers the cardholders with more benefits and rewards such as airline miles and rewards.  However, it basically has the same features with the personal type of credit card.

What are factors to consider in getting credit cards?

There are many factors that you need to consider in getting credit card.  You should be aware of the following:  fees, rewards, interest rates, and credit limits.

The most important factor that you should look into is the interest rate.  The interest rate will definitely affect your overall purchasing ability.  If you have high interest rates you will be charged higher interest on the every purchase that you do.  So even if you bought a cheap item its value is still expensive because of the added interest rate.

How can the use of comparison help in getting the best credit card?

Through comparison you will be able to see the difference between the interest rates, credit limits, fees and rewards that the credit card has in store for you.  It will surely help you in your decision making.

Finding a Low Rate Credit Card

There are numerous credit cards on the market, each with a different set of features and benefits. Spending some time researching the different options available means you can accurately match your financial needs to the choices you have.

There are credit cards available with 0% interest introductory offers, cards which offer 0% balance transfers and cards which are suitable for first time users.

Your requirements may be straightforward and you are simply looking for a credit card that offers a low rate of interest on all purchases.

Some credit card providers are offering simple credit cards which give you access to the lowest APR, guaranteeing you a low rate on all your purchases and without the worry that your APR will skyrocket after the introductory period has expired.

Some credit cards offer a low rate of interest on balance transfers as well as purchases, meaning you can transfer the balance of an existing credit card onto your new, low interest card. This allows you to manage your finances more effectively and means you can calculate exactly how much you will be paying off each month.

Having a credit card comes with other benefits as well. You have more protection against fraudulent activity with your credit card when compared to using a debit card and if your credit card were used fraudulently you would not be expected to cover the cost of the counterfeit purchases. Chip and PIN technology now makes it more difficult for would-be thieves to access your funds.

Credit cards also offer a level of purchase protection that you do not get with cash or debit card transactions. The Consumer Credit Act 2006 stipulates that card issuers and retailers must take joint responsibility for faulty purchases so you won’t be out of pocket if you use your credit card to pay for goods which aren’t up to scratch.

Some form of purchase delivery protection gives you peace of mind against loss or damage to goods that you order from UK suppliers, whether online, over the telephone or in store.

A card that is supported by 24 hour customer service assistance is helpful too as you can rest safe in the knowledge that you are only a phone call away from someone who can help. This is a particularly useful feature if you are travelling abroad and plan to use your credit card when away.

Last but not least, look out for low rate credit cards that offer the option of online banking as this gives you access to your finances 24 hours a day no matter where in the world you are.

You can manage many aspects of your account online, including direct debits and transfers. Switching to paperless statements is kinder to the environment as well.

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