Credit Cards Guides Online and Credit Card Information.
The PRC is your starting point for credit card information. Here we look at this form of payment and what kind of cards are available on the market today.
Credit Cards – the best way to pay
Credit cards have provided millions of people around the globe with a useful way to pay for goods and services. They are relatively safe and every payment can be tracked. They are secured with an even better system since the late 1990s with Chip and PIN. Each card carries a line of credit, and this has a specified limit depending on your circumstances and status. This means you are able to spend money up to that limit and this must be paid via a monthly bill. Paying in full and on time is what is required but of course it is easy to be late on payments which means you can end up with a poor credit rating. Worse still the bills could spiral out of control leaving you in serious debts. Most credit cards have strict eligibility requirements but nowadays most people will be able to find a provider willing to take them on. It is definitely worth thinking about how good (or bad) you are at managing spending habits before applying for a credit card.
There are some more advantages why a credit card is very useful. First, if your card gets stolen, the bank will freeze the account and you are only liable for the first fifty pounds. Of course, the main advantage of credit cards is the credit limit. It is very useful to have this, as you can make expensive purchases without taking out a loan. The money will be booked from your account on the end of the month, and you have this time to settle the debts. However, don’t forget that this credit limit can also be a debt trap. You shouldn’t overuse it as some companies charge high interest rates. Usually, credit card companies want their customers to be over 18 years old and with a good credit rating. However, everyone can apply for them as there are some special offers for people with a bad credit rating.
1. Capital One Credit Cards
Capital One is a well-known highly advertised credit card provider and you can see if you are "pre-qualified" via an online form that takes a minute to fill out. There is a large range of cards on offer, including those for people who already have a good credit rating and others for those who wish to strengthen their rating. APR rates vary according to card – for example the Capital One Classic Visa credit Card carries a typical APR of 34.9%. On this card, there is no annual fee and the ability to increase the credit limit based on good account management. You can even choose your own card design! The Capital One Platinum card carries a much lower typical variable APR of 15.9% but is aimed at those with an excellent credit rating. This card carries no purchase fee until October of this year and no balance transfer handling fee.
2. Barclays Credit Cards
As one of the UK’s largest banks Barclays offer a wide range of credit cards. The Barclay Card Gold Credit Cards gives you 0% interest on balance transfers for 12 months from account opening with a 2.5% handling fee. Barclaycard Gold includes many practical features and benefits such as an Identity Protection Service, Fraud Monitoring, Purchase Delivery Protection, Worldwide Assistance and Emergency Card Replacement and Cash Advance.
The Barclaycard business credit card gives you 0% interest on purchases for 3 months from date of account your opening. That’s on top of up to 56 days of interest-free credit when you pay off your balance in full and on time each month. When it comes to supporting your cashflow, it all adds up to a lot of extra breathing space.
3. Lloyds TSB Platinum Credit Card
The Lloyds TSB Platinum Credit Card offers 0% interest for 15 months on balances transferred within the first 90 days. This card save you money when you transfer a balance from another lender (3% fee applies). You'll also get 0% for 3 months on purchases – helping you spread the cost of what you buy. The Lloyds TSB Platinum Credit Card also offers Active Account Monitoring to spot any suspicious spending. Keep track of your money across your Lloyds TSB personal current and credit card accounts with Money Manager.