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Card Features / Making it Work |
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Written by Finance & Insurance
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Making Your Card Work Playing the field
If you’re clever with the way you play the field you can avoid paying hundreds of pounds in interest.
Credit Card companies compete hard with one another to get new customers – which is good news for the consumer.
Low rate introductory deals are all the rage nowadays after Egg broke the mould and kicked off the 0% craze in 2000.
While most cards offer a six-month introductory deal, some providers offer introductory deals on purchases and balance transfers for nine months.
If you are willing to keep tabs on your card there is no reason why you should not keep on taking advantage of the introductory deals. Card Features These kinds of cards used to be hard to get hold of. But nowadays, gold and platinum cards are less of a status symbol. However, you will need to earn above a certain wage threshold to get one and they often mean the issuer does not think you are a credit risk. These cards usually come with extra benefits. You may be offered extra credit and perks, such as free travel insurance. Credit Cards can be very handy when you are visiting another country, but it could cost you. The exchange rate used by Credit Card companies for transactions overseas will probably range from 0% to 2.75% above the standard exchange rate. The policy on conversion fees should be in the small print of whichever card you select. But watch out for cards which charge extra fees when used abroad. You can get insurance for lost cards, which can alleviate most of the hassle. While some card issuers pile it on as an extra cost, others offer free insurance, such as price protection insurance, which will let you return goods if you can get them cheaper somewhere else. Purchase protection will cover against loss, while online guarantees provides protection when you are using your card over the internet. Travel accident insurance will also cover certain instances of personal injury. Remember, there is legislation to protect consumers under the Consumer Credit Act. Unfortunately, security is something that needs to be high up on everyone’s priorities these days. Some people are more than happy to go through our bins looking for old statements which they can use to steal identities and money. Once you have checked your statement and made sure there have been no mistakes, file it safely. If you are disposing of old statements, the safest thing to do is rip them up or shred it. Keep your card safe at all times and report lost or stolen cards straight away.
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Finance & Insurance 
