The first credit card to charge a flat fee rather than a rate of interest has launched, aimed at those struggling to build a credit score. The card, from 118 118 Money, has a tiered monthly charge depending on the credit limit, but does not have other charges such as late payment or returned payment fees. Unusually for a credit card, there are also no fees to withdraw cash. It costs £8 a month for a £250 credit limit, £14 a month for a £500 credit limit and £17 a month for a £1,200 credit limit. As customers' credit ratings improve, they are offered higher limits. Whether or not this represents a good option depends on the situation. Someone borrowing with a £250 credit limit would incur £96 in fees a year, the £500 credit limit option comes with £168 in fees a year and the £1,200 option would cost £204 in fees a year. This is less than, or equivalent to, paying the level of interest on a regular “credit … [Read more...] about The interest-free credit card that costs £168 to borrow £300 – who is it for?
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10 best bags for life
Think back to 2015 when the 5p plastic carrier bag charge came into force in England. There was near pandemonium even though Scotland, Wales and Northern Ireland had already adopted it. Since then, though, we’ve had a chance to get used to the idea. Bringing along a “bag for life” is almost second nature. The levy was part of the government’s plan to reduce our reliance on single-use plastic, encouraging us to reuse bags or reach for alternatives, tackling “throwaway culture” for good. On the face of it, the charge seems to have done the trick – since the scheme started the use of these bags is down an impressive 80 per cent, equating to nine billion fewer plastic bags. Plastic bags have only been in circulation for about 50 years, so for that reason it’s hard to give an exact figure of how long they take to fully decompose, but scientists have suggested it could take up to 1,000 years. Based on these figures, every … [Read more...] about 10 best bags for life
NIS America hacked: Customer payment card data stolen, $5 off next purchase offered as apology gift
Japanese gaming developer Nippon Ichi Software has revealed its American arm, NIS America, has suffered a major data breach compromising the personal and financial data of online customers. As an apology gift, the company is also offering codes for a $5 discount on customers' next purchase via their online stores as a "small token" to those impacted.In an email sent out to affected customers last week, the company said the breach took place sometime between 23 January and 26 February on its online stores including store.nisamerica.com and snkonlinestore.com.Hackers managed to access customers' payment card details and address information for any new orders placed and paid via credit card during this time frame. However, customers who placed orders using PayPal were not affected in the breach."On the morning of February 26th, we became aware of a malicious process that had attached itself to our checkout page," NIS America said in the email. "This process was being used as far back as … [Read more...] about NIS America hacked: Customer payment card data stolen, $5 off next purchase offered as apology gift
Martin Lewis: Time you learned to play your cards right
0 Have your say I never expected to have a catchphrase. Yet if I say to a crowd “pay off your cards…” they always shout back “ …IN FULL”. And knowing the “in full” rule, well, er, in full is powerful. As it means if you play your (credit) cards right, they stop being debt cards, and instead turn into the perfect way to pay, with powerful perks at no cost. Repay your credit card in full in a month, then with almost every UK card you don’t pay any interest on your purchases (you do for cash withdrawals, so avoid those). Yet fail to repay even just 1p, and you pay interest on the WHOLE amount (not just what’s left) for the month.So set up a direct debit to repay in full each month and your credit card is effectively a debit card, as long as you don’t bust the credit limit.Things have just improved for credit card users. Last month new rules stopped retailers levying extra fees for those paying with personal credit … [Read more...] about Martin Lewis: Time you learned to play your cards right
Best 0% balance transfer cards to move your money to right now
One of the best ways to save money and stop paying interest on your credit card debt is to move money to a 0% balance transfer credit card. So where's best? We've teamed up with MoneySupermarket to round up the top 0% balance transfer credit cards for length of transfer, the balance transfer cards with the lowest fees and the best balance transfer cards for people with bad credit . As well as the longest deals, we've also looked at the best value ones and to make sure you take full advantage, got hold of MoneySavingExpert Martin Lewis' 4 golden rules of balance transfers too. How does a 0% balance transfer card work? A 0% balance transfer card allows you to switch your outstanding debts onto a new card and pay them off without incurring interest for a certain period of time. That means you can concentrate on slimming down your festive debts for a reasonable period of time without triggering any extra costs. Some new offers seem to be incredibly generous. The interest-free window on … [Read more...] about Best 0% balance transfer cards to move your money to right now