Credit Card Comparisons
Getting hold of a credit card is a lot easier than it used to be. But as the range and type of cards has expanded, knowing which one to choose in the first place is less straightforward. TheRateTart credit card directory provides reliable, easy to use information on many of the best deals on the market. By using these tables to compare credit cards you can save time as well as money on your next deal.
The first thing to work out is which type of credit card best matches your style when it comes to both spending and making repayments. Once you've worked this out you can check the relevant credit card directory to see what deals are on offer.
I always pay the full balance every month:
If you always pay off the balance in full you could consider a card that gives you or your favourite causes greater rewards e.g. a reward card or charity card. Also consider setting up a direct debit to pay off the balance in full each month. That way there is less chance of being caught out and paying interest at a high rate. (Of course, you still need to manage your spend and current account balance carefully, or you could get stung at the other end with overdraft charges).
If this sounds like you, check out TheRateTart credit card tables for Cashback and Rewards, Airmiles, Charity Cards or Gold & Platinum Cards.
I have an existing credit card debt that I want to transfer:
With an existing balance to clear, you need a low rate credit card that will give you the lowest repayment amount and not charge you too much in fees. There are two types of 0% interest offer generally available, although often these are bundled together.
0% on balance transfer credit cards can save you money by transferring debts from higher interest rate cards. In some cases you can also transfer debt from current account overdrafts.. You need to make sure you know whether any fees are charged for transferring a balance, and satisfy yourself that the total cost of borrowing in this way is the best deal available.
0% on purchases allow you to make interest free purchases for a fixed period. Either for a number of months from the date of account opening or up to a fixed date.
Both types of offer are for a fixed period only, so you need to make sure that by the end of the period you have cleared the debt or transferred to another low or no interest rate card.
If this sounds like you, check out TheRateTart credit card tables for Balance Transfers and 0% On Purchases for many of the best low rate credit card deals available.
I mostly pay the balance off each month, but not always:
Be very careful. You may not be doing yourself as much as a favour as you think. The first question to ask is why you are doing this. If you can’t afford to pay the full amount, are you consistently spending above your means? If you are, more than getting another credit card, you need to get your budget under control. The Citizen’s Advice Bureau can help you with this. - If you are just going through a temporary period of increased spending that you can afford to pay back in a defined period, consider a 0% credit card for both purchases and any outstanding balances. The reason why we suggest caution in this situation is because you may well be paying over the odds for the money you are borrowing. It’s not unknown for credit cards to charge interest rates several times more than a loan would cost.
- Banks commonly use payments to clear balances at low rates of interest before they clear balances that attract higher rates (if you pay off £100 of a £500 debt, this may be against the part of the debt that attracts the lowest rate of interest not the highest - so you pay off debt at the 0% balance transfer rate before you pay off the debt attracting 20% APR).If this sounds like you, check out TheRateTart credit card tables for Balance Transfers and 0% On Purchases for many of the best low rate credit card deals available.
- Partial payments to have less effect than you assume on the amount of interest you pay (if you pay off £100 of a £500 bill in February, in March will you still be paying interest on £500 minus the minimum payment or £500 minus £100?. Check your terms and conditions; you may be in for a surprise).
I want a credit card but I've not got a good Credit History:
Get ready for a shock. Credit card issuers love you, because they have an excuse for charging interest rates no other customers would accept. The first thing to do is check whether you can fix your credit rating problems with a free service like Experian Credit Expert. If not, consider a credit card designed for people with CCJs or other impaired credit. Some aren’t much more expensive than standard low rate cards. If you reliably pay the card off these cards can help to build or mend your credit rating in much the same way that paying back a loan would.
If this sounds like you, check out TheRateTart credit card tables for Bad Credit Rating Cards.
TheRateTart is an independent, small and knowledgeable team of industry insiders. The main objective of the company is to offer you accurate, independent data and value for money offers. You will find all the necessary information to compare credit cards and find the best deal for you. You will also find independent, impartial comparison tables for other products: Savings, Mortgages, Current Accounts, Insurance, Online Trading and Broadband.
Visit www.TheRateTart.com and find the best Secured and Unsecured loans available in the market.
