0% Credit Cards in the UK
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Brand
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Are
0% Or Low Interest Credit Cards Hard To Qualify For? |
In general, the better your credit rating, the better deal you can get on a credit card. If you have poor credit, you may not be able to qualify for a new credit card at all, or if so, you may not be eligible for benefits such as low interest rates. There
are other special offers, which you may not qualify for if your credit
is less than stellar. Some credit card companies offer air miles, points or cash
back for purchases made with their card.
These incentives help convince consumers to spend money using the
credit card when they may otherwise not have done so.
The rule of thumb to follow is to spend only what you can pay off
in full at the end of the month.
Otherwise, you will be paying more in interest.
Once you get a large balance on your credit card, you will end
up paying only interest each month and will never pay off the credit.
Financial experts recommend you look at your credit card as if
it were a debit card. In other words, spend only the amount you have available.
Spending within your means will allow you to owe less and pay less
finance charges. Sometimes
credit cards may offer short-term cashback of up to 2% of your spending.
In addition, you can ‘double up’ by using a store loyalty card,
such as ‘Tesco Clubcard”, “Nectar Card” or “Boots Advantage Card”, along
with a cashback credit card. However,
no matter what incentives you have, make sure you pay off your monthly
credit card bill in full each month.
Otherwise, the interest charges will outweigh the cash advantages
you accrue. |
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Kinds of Cards |
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Copyright 2008 0% Credit Cards UK Guide Articles
By Kate Spencer. All rights reserved |
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