Home | Credit Report | Credit Card | Loan | Insurance | Gas & Electricity | Mobile Phone

CREDIT
Credit Report
Credit Score
Credit Monitoring
Improve Credit Rating
Credit Repair
Identity Fraud
Credit Bureaus
Free Credit Report

CREDIT CARD
Choosing A Card
Credit Card Interest
Balance Transfer
Switching Cards
Cash Back Credit Cards
Airline Mileage Credit Cards
Credit Cards For Bad Credit
What To Do When Applying For A Card

LOAN
Mortgage
Remortgage
Debt Consolidation
Personal Loan
Payday Loan
Bad Credit Loan
Secured Loan
Credit Score and Loan Interest Rates

INSURANCE
Car Insurance
Home Insurance
Life Insurance
Medical Insurance
Dental Insurance
Travel Insurance
Bike Insurance
Pet Insurance

TRAVEL
UK Travel Tips
Major Travel Spots
Airports
Airlines
Hotels
Vacation
Package Deals

GAS & ELECTRICITY
How to switch
What to consider
Energy saving Tips

TELEPHONE
How to switch?
Things to consider
How to find the best deal?

BROADBAND INTERNET
Why and how to switch?
Things to consider
VOIP

MOBILE PHONE
How to buy the right mobile phone
How to switch
How to compare mobile phone tariffs

NEWS
Latest Consumer News



What To Do When Applying For A Card

Before applying for a card

There are a lot of factors to be considered before you apply for a credit card. The first and foremost factor is for what purpose do your require a credit card. Do you want the card for your monthly or weekly expenses or do you want to keep your card only for big emergency expenses? In fact credit cards let you choose how much you borrow subject to an upper limit and how quickly you pay back the borrowed funds. The other factor to consider before buying a credit card is to find out what types of credit cards are available and which companies are offering them. You can compare the different credit cards from the same company and also the same type of credit card from different companies. When you compare the different types of credit card offers, you get a broader picture of which type of credit cards will suit all your requirements. The reason why people prefer credit cards is that they are very convenient to carry. Once you have a credit card you can simply shop for goods without applying for a loan at that time. Off course at the end of the month you have to pay your dues along with the interest rate applicable. There are a lot of companies selling credit cards in the UK. The most notable amongst them are VISA, American Express and MasterCard. There are several smaller companies as well that sell credit card services in the UK. However, it is preferable if you get credit cards from reputable organizations as they are more professional and trustworthy.

Points to be considered before applying for a card

Charges This is the most important point to be considered when applying for a credit card. Your monthly dues consist of your monthly expenses plus any balance carried forward from the last month plus interest charges payable. In case you pay the whole amount then there is usually no interest charge. Hence if you pay the full balance every month, then credit cards give you interest free credit for a maximum of 56 days.

APR APR is known as Annual Percentage Rate. An APR takes into account the interest that you pay, any annual fee you must pay and when and how you pay the interest and the fee. The APR shows the cost of borrowing on a standard basis and you can compare the APRs of different cards. The APR does not take into account charges you might have to pay, such as charges for missing your monthly payment.

Repayments
In case you pay only the minimum amount of the dues each month then it will take a long time for you to pay your full bill. Also the interest rate increases as more and more unpaid amount gather in your account.

Items in Small Print
Do read carefully the items in small print like the period of free credit, from when is the interest charged, is there an annual fee, and what are the consequences if you cant pay the minimum amount.

 
   



 

Latest News


February 25, 2012
Consumer sentiment edges up to year high

Consumer sentiment edges up to year highArticle from Reuters: NEW YORK | Fri Feb 24, 2012 10:41am EST NEW YORK (Reuters) – Consumer sentiment improved a tad in February to rack up a year high as Americans became more confident about the economy’s resilience, a survey released on Friday showed. The Thomson Reuters/University of Michigan’s [...]

> Read more


APNewsBreak: NY requires life insurance companies to start paying fully on …

APNewsBreak: NY requires life insurance companies to start paying fully on …Article from Washington Post:ALBANY, N.Y. — New York regulators on Friday told insurance companies they must pay out fully when members of the military are killed in action as the standard practice, rather than automatically establishing a kind of checking account that provides interest [...]

> Read more

February 24, 2012
Credit union director urges payday loan rate cap

Credit union director urges payday loan rate capArticle from BBC News:24 February 2012 Last updated at 12:07 ET Martin Treadgold thinks that the UK should have a cap on APR rates like many European countries The director of a West Midlands credit union has called on the government to cap the maximum interest rate levied [...]

> Read more


Bailed-out insurance company AIG posts $20 billion profit on a tax-related …

Bailed-out insurance company AIG posts $ 20 billion profit on a tax-related …Article from Washington Post:NEW YORK — American International Group, the insurance company that was bailed out by the government in 2008, reported a $ 19.8 billion profit in the fourth quarter of last year, nearly all of it due to a tax-related accounting [...]

> Read more

February 23, 2012
Consumer Comfort in US at Almost the Highest in Four Years

Consumer Comfort in US at Almost the Highest in Four YearsArticle from BusinessWeek:February 23, 2012, 12:09 PM EST Initial Jobless Claims in U.S. Hold at Four-Year Low Jobless Claims in U.S. Unexpectedly Fall to Four-Year Low Margins Widen at U.S. Companies as Wages Lag Behind: Economy Trade Deficit in U.S. Climbed in December to Six-Month [...]

> Read more

 

Home : Credit Report : Credit Card : Loan : Insurance : Travel : Utilities
© 2018. UKConsumerWorld.com. All Rights Reserved.