Do you only make the minimum payments on your credit cards? If money is tight, you may feel you can't afford more... But do you know that there is a simple alternative that will speed up debt repayments a lot, not harm your credit record and not cost you any more? Read on! How long does it take to clear the balance? Suppose you buy a cot, buggy, car seat and some other baby equipment … [Read more...]
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?
People with Vanquis credit cards are getting texts and letters saying their minimum monthly payments will be increasing as the calculation is being changed. This is happening from July 2018. The new minimum payment calculations At the moment Vanquis calculates the minimum monthly payments as the highest of three figures: 3.5%, 4.5% or 5% of the balance on the account (depending on … [Read more...]
Here is a simple way to think of your credit cards and catalogue accounts using the traffic light colours. It can give a warning signal where you may have problems in the future. If you are in difficulty with bills or debts now, it's too late for this early warning to help... have a look at your possible options and get some debt help now! Red - Amber - Green First you need to compare the … [Read more...]
Have you had a catalogue, credit card or overdraft where you were given a high credit limit? So high that the monthly repayments were hard to manage without borrowing more? 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 was … [Read more...]
A reader asked: "I've seen advice to improve my credit rating after a Debt Management Plan by getting a "bad credit card" and repaying it in full every month. Would it be a good idea to get two of these cards? I don't want to borrow any money, just to get a better credit score." This is a good question! Let's start off by looking at why getting a bad credit card such as Vanquis is often … [Read more...]
There are several "bad credit" cards in Britain, including Vanquis, Aqua, and Luma. The cards are aimed at people who get turned down for a normal credit card. They promise access to credit you can't otherwise get, but many people want them not because they want to borrow but to help them improve their credit score. The credit card regulator published research showing that a quarter of these … [Read more...]
Although the 0% balance transfers on offer are less good at the end of 2018 than they were a year ago, there are still some great deals to be had. So good that you may be wondering what the catch is! Banks do expect to make money from these "bargain offers". If you know how, you can plan to avoid this and make sure you are the one that gets the bargain, not the credit card company. How do … [Read more...]