|
|
|
Forgotten your password? | |||||||
EDITOR'S PICKS
NEWS
Pensions deficits 'the result of increased life expectancy'
Solar panels 'mean homeowners have everything to gain'
Are credit cards worth it?
06/08/2010
 Credit cards have become a staple part of our lives over the last few years and now most of us would be lost without that plastic in our wallets and purses. There are also some good arguments for credit cards. In fact, lots of experts recommend that you should always use plastic to buy trips away.Consumers are also benefitting from renewed competition in the credit card market, which has seen promotions offering interest-free periods to people who switch their balance transfer, according to research from Moneysupermarket.com. Yet, even with some promotions in place, people are still missing out on the best deals because credit card interest rates are continuing to rise. In fact, the average rate is now 17.32 per cent. A spokesperson for Moneyfacts.co.uk advised people to think carefully before getting a credit card. "Despite there being a slight return to a competitive market, credit cards are still considered a high risk." The spokesperson added: "The first thing to do is to check your credit rating. Many credit checks can be made online, with companies such as Credit Expert, which will give you a good idea of whether you are eligible for credit." Although the card may offer a good rate, people still need to consider whether they can meet the monthly repayments in the long term, she suggested. "It is important for card holders to check that they can keep up repayments on their card in the event of a rate increase, and to always try to make more than just the minimum monthly amount." If you work in an industry that has been badly affected by the recent economic downturn, a credit card might not be the best idea. "The risk of unemployment is still high for many and credit card debt is always the first out of all debts which a person will default on, therefore providers are still cautious as to who they lend to," she concluded. Posted by Jez Walters  |
Related Finance News
|
|
Help Protect Children from Abuse and Neglect
|
This offer is open to UK residents only. You must be at least 18 years of age or older to enter. By registering and entering your details with activeyou.co.uk you consent to receive information and promotions from activeyou.co.uk, our Clients and our Partners. These promotions are selected and based on the details you provide us with, you can unsubscribe at anytime. You also agree to our standard terms & conditions.
Copyright © 2009 activeyou.co.uk. All rights reserved.
Special Terms & Conditions
|
Admin|
How It Works |
Privacy Policy |
Terms |
About Us |
Affiliates |
Site Map |
Links |
Unsubscribe |
Contact Us
© Activeyou-enter competitions to win cruises, equity release, home improvements and laser eye surgery |
||
|
||
Site Protected By Copyscape- DO NOT Copy |
||
|
This page took 0.1406seconds to load
|
