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Articles about credit cards

Credit cards can be really useful but they can also be dangerous - if you just hand over that piece of plastic it can be too easy to run up bills which will take you many years to clear.  So how can you make the best use of them? The articles here look at

make sure you get the benefits - practical steps you can take so that the banks don't make huge profits from you;

what's new and whats changing with credit cards in Britain?

too much credit card debt -  how can you tackle it fast?

Level – a “credit builder” card to avoid

A reader asked: I recently got a Level credit card to try to improve my credit score. I have just found out that I am being charged interest from the date of my purchases. I thought this was illegal? This isn't a credit card I have come across before. While charging interest like this isn't illegal, it is very unusual so I have had a look at this. Level is a "credit builder" card, aimed at … [Read more...]

May 6, 2022 Author: Sara Williams Tagged With: A reader asks, credit cards

How to get refunds from catalogues and credit cards

part of a credit card

Have you had a catalogue, credit card or store card where you were given a high credit limit? So high that the monthly repayments were hard to manage so you got into more debt? Many people were originally given sensible limits, but the lender kept increasing them. You may have a good complaint that the lender was irresponsible in allowing you to borrow so much that the debt … [Read more...]

January 27, 2022 Author: Sara Williams Tagged With: credit cards, Refunds

Maxed out credit cards & only able to pay the minimum

maxed out credit cards

"I have three credit cards, all maxed out. I am only paying the minimum amounts each month as I can't afford more. What are my options as this will take forever and cost a lot in interest?" A lot of people may be in a similar situation. If your credit cards are all at their limit but you have no spare money to reduce this, your options depend on how good the rest of your finances are. This … [Read more...]

November 2, 2021 Author: Sara Williams Tagged With: A reader asks, credit cards

There are some good 0% transfer deals in early 2022

getting refunds from credit cards or catalogues or overdrafts

At the start of 2022, the longest 0% deals are back up to over 30 months, but there aren't many of them. 2017 was the high water point for 0% balance transfers - you could get deals for 43 months. Then for a couple of years, the deals got gradually shorter and the fees edged up. With the pandemic, most deals disappeared entirely and the few there were much shorter, a maximum of 24 … [Read more...]

September 30, 2021 Author: Sara Williams Tagged With: credit cards, Snowballing

“I’m using my credit card. But my report says I’m not!”

Mr M asked: I am trying to build my credit score but feel I am getting nowhere. I had 2 accounts in default which I paid about 1 year ago. My bills are paid on time. I have a Capital One credit card with a £200 limit. I always get £50 worth of petrol on the last Friday of every month and pay it manually a few days later. But I got an email from Credit Karma saying "When your last report came … [Read more...]

August 23, 2021 Author: Sara Williams Tagged With: A reader asks, credit cards, Credit ratings

Off to uni ? Time to plan your finances!

 You have the A level grades - well done! There are now just a few weeks to get organised for uni in September 2021. What should your top priorities be for managing your money? And what should you avoid?   Living on a student loan is hard You will probably get more money in your bank account than you have ever had before. But most students find it harder to manage than they … [Read more...]

August 16, 2021 Author: Sara Williams Tagged With: Budgeting & Saving, credit cards

“Improving my credit score – be added to my partner’s card?”

A reader asked: I have fairly recently got an Aqua card with a limit of £1,900. Credit Karma suggests this is low and a higher limit (with low utilisation) reflects well with lenders. I’ve only just had a credit limit with Aqua so can't get another one soon. But I could be added as a secondary cardholder on my partner’s credit card. This is her idea – she has a limit of almost £10k. She never … [Read more...]

April 23, 2021 Author: Sara Williams Tagged With: A reader asks, credit cards, Credit ratings

Barclaycard – more big cuts to credit limits in 2021

In April 2021, Barclaycard is cutting a lot of customers' credit limits. Some of the reductions are dramatic. Here is what one Debt Camel reader said: Today I received a letter from Barclaycard informing me my credit limit is being reduced from £5,000 to £250 in 1 months time. My balance is zero and has been for several months. Not very happy about this as it’s there for emergencies etc and … [Read more...]

April 14, 2021 Author: Sara Williams Tagged With: Barclays, credit cards

Buying too much online? 5 ways to cut back

A few taps on your mobile and that handbag, those kids' clothes or this kitchen gadget is on its way to you. Very convenient with busy lives and little time to go to the shops. Or when the shops are shut because of lockdown! But when money is tight or you want to save for something important, or you are just bored with being at home all the time, it can be just too easy to overspend. … [Read more...]

January 10, 2021 Author: Sara Williams Tagged With: Budgeting & Saving, credit cards, Snowballing

Barclaycard to hike minimum payments in January 2021 – are you affected?

Barclaycard emailed customers in November 2020 about changes to their credit cards. With the title "Dear [customer name], we're updating your T&Cs ", you may have ignored it. But many people will find their minimum payments are going to be increasing from 26 January 2021. And some of the increases will be very large. This affects Barclaycard holders with Cashback, Freedom, Forward, … [Read more...]

December 1, 2020 Author: Sara Williams Tagged With: Barclays, credit cards

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