LOOKING to make a big purchase in 2019? Then you should think about picking-up a 0 per cent purchase card. Used correctly a purchase credit card can help you spread the cost of a big-ticket item - like a new kitchen or holiday - without racking up hefty interest charges. The longest deals on the market now stretch to a whopping 28 months - giving you the chance to pay-off your debt in just over two years. The Sun Online has taken a look at some of the cards with the longest 0 per cent periods on the market but before we do, a word of warning. Always be responsible when it comes to spending on credit cards - try and clear your balance in full each month outside of a 0 per cent purchase period, otherwise you'll start paying interest on your balance. If you can't clear it each month, ideally you should try and pay more back than the minimum monthly payments, otherwise your debt will take longer and longer to clear. And never use cards to regularly cover gaps in your monthly income either, … [Read more...] about Best 0% interest-free credit card for spending and purchases up to 28 months
2 years interest free credit card
Warning for credit card customers with large debts as lenders slash balance transfers and increase fees
THE changing credit market is bad news for borrowers who depend on interest-free ways to repay their credit card debts. According to Moneyfacts’ quarterly UK Credit Card Trends Treasury Report, the number of interest-free balance transfer deals has fallen to its lowest level on record – down to 87 from 101 in June - while the amount of introductory interest-free purchase cards has fallen as well. Meanwhile, the length of interest-free balance transfer offers has decreased. At the same time, the cost of making a balance transfer has increased, with the average introductory balance transfer fee hitting 2.20 per cent this month – up from 2.04 per cent in January. This is all worrying for people who rely on switching their debts from one interest-free deal to another, as it means they’ll now have less time to repay their debt before interest applies. This also means it will take longer and cost them more. And it could get worse too. How to pay off large amounts of … [Read more...] about Warning for credit card customers with large debts as lenders slash balance transfers and increase fees
Experian and ClearScore merger could push up prices of credit cards and loans, warns watchdog
CREDIT cards and loans could become more expensive if a merger between two of the biggest credit checkers is allowed to go ahead, a watchdog has warned. Experian bought ClearScore earlier this year but the Competitions and Markets Authority (CMA) is "concerned" about the impact it could have on customers. ClearScore and Experian are the first and second largest free services for customers to check their credit scores, while Experian is also the largest paid-for service. Millions of people in the UK use both credit checkers every year to see their scores before applying for a loan or credit card. The CMA fears that the merger could mean that there is less competition so they are unlikely to bother coming up with new ways to help people understand their personal finances. As a result, credit card and loan providers could play on customers' naivety and push up prices. How do I check my score?TWO thirds of Brits have no idea what their credit score is, according to a survey by online … [Read more...] about Experian and ClearScore merger could push up prices of credit cards and loans, warns watchdog
A holiday credit card trick that will save you money
Experimental feature Listen to this article Play audio for this article Pause Are you ready for a holiday? Having toiled solidly through a month-long heatwave in London, I have a horrible feeling that it will end up tipping down for the precious weeks we manage to snatch away from the capital. Regardless, I never feel like I am truly on vacation until I’ve arrived at our destination (usually in Italy), ordered my first Aperol Spritz and taken a deep sip. And relax!However good it tastes, you may find yourself plunged back into a stressful situation when the bill arrives. Typically, when you put your card into a foreign payment terminal, it will ask you to make a decision: “Do you want to pay in pounds or euros?”Pick the wrong one, and you could end up paying nearly 8 per cent more than you need to, according to new research into the phenomenon that is “dynamic currency conversion”. So before you jet off, repeat this mantra: never pay in pounds … [Read more...] about A holiday credit card trick that will save you money
Credit card market tightens as banks fear economic slump
Credit card companies are tightening their belts and targeting only the safest of customers due to fears of an economic slump. Research published by ClearScore, a credit referencing service, found that the best balance transfer deals had disappeared from the market in the last year. This is because banks and card companies now prefer to focus on lower-risk customers, rather than those who are heavily indebted and looking to shift their debts around. Balance transfer cards let users move existing debt to a new provider, which usually offers an interest-free period as an incentive. However, with fears that consumer spending is at unreasonable levels and interest rates expected to rise again this... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per week Register for free … [Read more...] about Credit card market tightens as banks fear economic slump