Post Office Credit Card offers 0 balance transfers

April 21st, 2009 by writer | No Comments | Filed in Press Releases

Noted consumer advice and assistance website CreditChoices.co.uk has had renewed interest in their complete and objective reviews of all the most popular credit cards currently offered in the United Kingdom. Two among these, the Post Office credit card and the Natwest credit card, seem to have found newfound interest as consumers around the UK seek out new ways to make ends meet. Tough economic circumstances have turned all but the wealthiest individuals onto a path of creative personal finance.

Long a favorite for international travelers, due to its policy of not charging interest on any purchases made abroad, the Post Office Credit card has found a more mainstream customer base due to its policy on 0 balance transfers with long term interest freezes. One no longer needs to be an avid traveler to appreciate the Post Office card.

The Natwest credit card has found new users due to its longer then average built in grace period. Purchases made with a Natwest card are interest free for a period of up to 56 days. This makes the Natwest card the perfect short term loan vehicle to tide one over until funds arrive. Also the ability to “float’ a balance for almost two months has given many people living cheque to cheque a bit of cushion they otherwise would not have. Along with these two credit cards the creditchoices.co.uk site has information and comparisons of over two-dozen other credit cards available within the UK.

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Are UK Homeowners Wasting Money…

March 17th, 2009 by admin | No Comments | Filed in Press Releases

wasting-moneyConsumer magazine Which? Stated that only around 15% of householders switched energy providers in a 12 month period, despite the large potential savings involved. With the current financial climate, one would think more people would be jumping on the energy bill saving bandwagon…

Why Don’t More People Compare Energy Prices?

Considering the fact that most UK householders (probably safe to say householders worldwide!) are trying to tighten the purse strings these days, at first it seems confusing that so few of them switched energy providers last year.
One possible reason may be that consumers are simply unaware of the potential savings involved with switching energy providers. Everyone seems to be focused on comparing their options as regards to their credit obligations, such as 0 balance transfers, but may not actually realise that large savings can be had by comparing energy prices.

How do I Compare Energy Prices?

Another possible reason that many people don’t compare energy prices, is they feel that despite the possible savings, they perhaps feel that the level of effort needed to get the best deals is just too daunting.
In reality, this couldn’t really be further from the truth. If you have the internet, for example, a visit to an energy comparison website can be a huge help. For the best results, look for an energy comparison website that gives more than just an energy prices checker, rather find a site with articles and news about energy related matters, as these sites will generally be more up to date and accurate.


About Energy Choices.

http://www.energychoices.co.uk is a UK based energy comparison website. They provide a plethora of information about the UK energy market, with frequent updates. Additionally they give visitors free access to a postcode checker, to enable UK residents to check what energy deals are available in their area, and to help them switch to a better deal if appropriate.

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From Mortgage Protection to Balance Transfers, Compare Your Options

February 21st, 2009 by admin | No Comments | Filed in Press Releases

Even in this, the day and age of the credit crunch, there are still options out there for those wanting credit. Because the times are hard however, it has never really been more important to compare your options when looking for a loan, credit card or other such financial package.

One way that credit seekers can empower themselves is by using a service such as a comparison website, to make sure they get the best deals they can. Whilst one the surface many deals may seem to offer exactly what you want, whilst negating the need to sign deals with satan himself, you may be somewhat surprised and upset when you card bill or bank statement arrives.

Lenders have many ways of applying fees and charges to our credit accounts legally and sneakily. Some comparison sites offer the consumer a chance to read about various financial offerings, and help them make a more informed, level headed choice.

Creditchoices.co.uk is one such comparison site. They offer the visitor help with everything from comparing 0 balance transfers and finding out they ways that such deals can leave the consumer feeling aggrieved, to checking out the latest abbey mortgages on offer, or finding out if they really need mortgage protection cover.

As with any credit application, think carefully and fully research your options and the offers terms and conditions before signing on the dotted line.

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0 Balance Transfers – Worse Deal Than They Seem?

February 15th, 2009 by admin | No Comments | Filed in Press Releases

Many credit card holders choose to transfer their card balance periodically, in an attempt to avoid potentially monstrous levels of interest payments. The availability of 0% balance transfers to UK credit card holders can be attractive to say the least, but is it really that easy?

What many people don’t realise is that there are hidden traps and pitfalls to some of the 0% transfer offers. Read below to find out just a few tricks that some of the financial institutes play when offering you a seemingly great 0% balance transfer deal.

More Obvious Cost

There is at least one cost that can be plain to see, and that is the balance transfer fee. This fee could be a simple flat fee, or could be based on a percentage of the balance being transferred. You would be wise to take a look at both options, and see which works out the cheapest for you. If, for example, you are transferring a large balance, you may be better with a capped flat fee, rather than a percentage arrangement. Obviously, conversely if you are transferring a smaller amount, make sure you look into the percentage type deals fully.

Less Obvious Costs of Balance Transfers

One of the most common place techniques used to part balance transfer victims with their money is the way that repayments are tiered. For example;

Say you transfer £2000 onto a 0% on balance transfer card, great.

Next you make a purchase on this new card, let’s imagine for the sake of argument you spend £250. Now, lets also assume that the 0% on transfers offer is JUST on transfers, not on new purchases…

So, to avoid paying interest on the £250 you have spent, you pay it off before the month is over. Great… Right?

Well, possibly. Although with some repayment setups, you are bound to pay the cheapest debt off in full before you get to pay off any more costly debt. In the instance above, that would mean clearing the full £2000 of interest free debt, before being able to pay the £250.
What this means in practise, is anything you pay off (the £250, for example) will come off the £2000 that is on an interest free deal, rather than off the £250 you spent… meaning that you will be paying the standard rate of interest on purchases stated in the terms and conditions for that card.

Whilst this example may seem bad, if you didn’t know this rule it may be possible for you to run up a large debt that you will be paying interest on for a very long time, either until you clear the initial 0% transferred debt, or transfer the whole card balance to yet another 0% on transfers offer.

It is worth noting that not all lenders use this payment tearing system, so be sure to compare your options and fully understand the meaning of the terms before you sign up for a credit card. Especially be weary of offers in shopping malls, where you may not have time to fully go through and research the terms of a given offer.

The internet can be very useful for carrying out research into various credit card deals, both via Google, and also a trusted comparison website, such as Creditchoices. Comparison websites like this allow users to compare offers on all manner of things, from interest free credit cards to mortgages.

Fine final cautionary note, with some card providers terms, if you miss a monthly repayment, you may trigger an instant end to your 0% period. This is most definitely something else you should check for in the cards terms before applying.

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supermarket credit cards

January 4th, 2009 by admin | No Comments | Filed in Press Releases

When times are tight the savvy save whereas those of us who don’t do our research will inevitably end up paying more. It is now possible to save whilst spending. As contrary as it sounds it is now possible. All the major supermarkets now offer a credit card. In the past we have been offered ‘store cards’ by many high street retailers. Typically, they offered extremely poor credit terms and could only be used in store. The cards offered by the supermarkets these days are conventional credit cards and many also boast 0 balance transfers and interest free periods.

Where supermarket credit cards have something more to offer is in-store. Using a model popular with store cards and loyalty cards, if you use a store credit card in the store they offer ‘points’ that ultimately translate to savings. So, if you use one store for all your family’s weekly shop and use the store credit card then the savings could soon add up. Though it is unlikely to help with early retirement, in tight times any saving is welcome.

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Lenders ever cautious when handing out new credit

December 24th, 2008 by admin | No Comments | Filed in Press Releases

Before the credit crunch, the number and type of credit cards available was staggering. Every lender had a menu of products, now we are in the position where credit is being offered only cautiously, but the lenders must still keep lending to keep in business. So even if times are tight but you are responsible borrower, now is a good time to use the credit market to your advantage.
 

0 Balance Transfers


 
With the Christmas excess most of us spend much more than usual, though as long as you are realistic with you’re spending a 0 balance transfer might just help take up the slack. There is a massive choice of lenders, so, with good history you should be able to compare the offers and choose the best rate for your circumstances.
 
At one time the choice was between a 0% card or an interest free credit card, today, all of the best offers try and tie in an interest free period with a balance transfer. This has the potential to give the borrower a really flexible card- for the duration of the offer.
 
But- gone are the days of free debt, every provider now levies a transfer fee on all transactions to ensure even if you stick to every term and clear your debt before the end of the period they have made the transaction worthwhile for their business. So, if you’re a responsible borrower you may still use the credit market wisely and to financial success, but as always, understand the terms so as not to receive any nasty surprises in the new year.
 
 
 
 
 
 
 
 
 
 

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