Other cards to consider are Tesco Bank Clubcard Credit Card Mastercard, which offers 0pc on purchases for first 13 months and 16.9pc APR thereafter, and Sainsbury’s Finance Mastercard, which is interest-free for the first 12 months and charges 15.9pc APR thereafter.

Kevin Mountford, the head of banking at moneysupermarket.com, said: “This is great news for anyone looking to consolidate their existing debts or make large purchases. But cardholders will need to make sure they understand any associated transfer fees on these products, as they do vary.”

Mr Mountford pointed out that despite the new offers launched this week, it would be wrong to say that banks are opening up these offers to all customers. In reality, most lenders are giving the best deals to customers who have good credit histories.

“If you fall outside of this category then you may find your options are limited,” he warned.

Read more…

• 0 Comments

Our good friend Mr Credit Card from Ask Mr Credit Card is going to share some of his thoughts today about the importance using and earning cash rebates in today’s “inflationary environment”.

In 2008 when the US was facing it’s worst financial crisis, and while sub primes mortgages were bringing banks down, the rest of the world was still booming. Commodity prices were skyrocketing. Oil prices reached $140. US consumers were really hurt by that. It was during that period that gas rewards credit cards became really popular for the simple reason that you could get 5% rebates for simply paying for your gasoline with your credit card.

But it was also during that period that credit card issuers began scaling back on their rewards and rebates that they paid for gasoline purchases. Instead of offering the standard 5% rebates on gasoline purchases, they began to scale it back to 2%, 3% or 4%.

Read more…

• 0 Comments

Many things become shared when you tie the knot – a home, holidays, and the remote control. What many people may not think strongly enough about – shared finances – can often become the white elephant in the room if a couple isn’t careful. Sharing a credit card, and finances in general, can be a wonderful thing when you are married, but it can also lead to disagreements and tension in your home.

Usually good communication and responsible behavior can lead to a successful financial partnership. Not all shared credit card experiences will be the same from one couple to the next. As long as you and your spouse are on the same page with your expectations and goals for your joint credit card account, things should go well for you. Consider these tips on sharing a credit card with your spouse.

Stay in constant communication. Don’t just use your credit card frivolously.

Read more…

• 0 Comments

Last week, the IndexCreditCards.com blog ran a piece under the headline “Credit scores pose hidden dangers.” It stressed how much you can needlessly pay in higher mortgage, auto loan and credit card rates if your credit report is looking at all shabby. And it promised to revisit the subject.

Well, here we are with six easy tips to rebuild your credit score:

1. Establish your credit score.

Your first step is to find out what your credit score is. You’re entitled to a free credit report once a year. However, it might be worth subscribing to one of the services that continuously monitor reports, such as GoFreeCredit.

2. Cherry pick easy debts.

If any of the debts shown on your report are owed to companies that have gone out of business or merged with other organizations, then ask for the liability to be verified. Read more…

• 0 Comments

Recent cases have included a man who had £1500 taken from his account using a PIN. The bank refused to pay the money back, saying he must have been careless. The Ombudsman noticed that the criminal had tried every card in the man’s wallet, using the same number, and therefore concluded that the bank must have been negligent. The customer was not refunded.

However, money has been refunded in different cases, including one where an elderly man with a very regular withdrawal pattern had money withdrawn from a different branch, at the time in which he was working at a charity shop. The Ombudsmn concluded that this didn’t fit his usual pattern and demanded that the bank refund.

The moral of these stories is to make sure you are careful with your card and PIN at all times, otherwise you could end up out of pocket. However, if you are unlucky and have been careful, and get into a dispute with your bank about this type of refund, use every bit of information you can – alibis of who was with you at the time are useful.

Read more…

• 0 Comments