There has always been a debate whether students in the tertiary education system, usually entering their adulthood, should have access to credit cards or not. While some financial experts and parents are rightly concerned about the possibility that young adults may run into debt problems, the truth is that if students can learn to use their cards smartly from a young age, they may manage to establish a credible and solid credit history for a secured future. As we all know, banks love prospective customers with a long-established credit history and a good score. So, if a student needs a new line of credit in the future, chances of getting an approval will improve manifold if he/she manages to use a student card wisely. 6 Obvious Benefits of Owning a Student Credit Card A robust credit score: A robust credit score can be an asset even if many cardholders don’t realise the benefits of it immediately. A good score can help establish credibility and a life-long relationship of trust … [Read more...] about Why Students Should Have Credit Cards
Why credit cards are good
Hundreds of thousands of pounds were put on credit cards at an under-fire development company, councillors have been told. A report to Northumberland County Council’s audit committee revealed £246,000 was spent by a small group of staff at Northumberland’s regeneration company, Arch, over four years on company cards. Coun Nick Oliver, portfolio holder for corporate resources, told ChronicleLive the “majority” was spent on hospitality, with clear business cases not offered for why the cash was spent. Arch has already come under scrutiny over hospitality cost, with a report revealing lavish meals and £58-a-bottle wine at some events. The latest Northumberland County Council Audit Committee report also revealed council officers had once again contacted police over some findings at Arch. Few details were given, but the committee were told the referral concerned “a potential breach of the law in relation to clearly outlined local Government and … [Read more...] about Hefty credit card bills and a £9m fall in value at Arch, auditors say
In 2013, the average cardholder had 4.1 credit cards but only 0.1 charge cards, according to the Federal Reserve Bank of Boston. Clearly, most Americans are not clued in when it comes to charge cards. It makes you wonder whether they're missing out -- or whether charge cards just aren't worth it. Image Source: Getty Images. Charge cards vs. credit cards vs. debit cards Does It Build Credit? Does It Offer Fraud Protection? Does It Offer Purchase Protection? Does It Charge Interest? Is There an Annual Fee? Does It Offer Rewards? Debit cards No Sometimes No No No No Credit cards Yes Yes Yes Yes Sometimes Sometimes Charge cards Yes Yes Yes No Usually Yes Charge cards are like a hybrid of debit cards and credit cards. Overall, charge cards are comparable to credit cards, except that charge cards have to be paid off in full each month, whereas credit cards don't. Charge cards also offer the superior protection that makes credit preferable to debit in many circumstances. … [Read more...] about Charge Cards: Better Than Debit and Credit Cards, or a Waste of Money?
AIRMILES can make saving for a trip that bit more easy money-wise. Airmiles, which is also now known as frequent flyer miles or Avios, can be a great way of using day to day purchases to save on flights - here's the lowdown. How do Airmiles work? Airline miles, also known as frequent flyer miles, travel points or Airmiles, are part of a loyalty program offered by certain airlines and credit card companies. Those signed up to the schemes usually accumulate a set amount of miles based on how far they fly or how much they spend on their credit card. Check with the airmiles company you are signed up to see which brands and stores you can gain airmiles through purchasing with. The miles accumulated via this flying or spending can then be used as payment towards future tickets. Is it worth getting an Airmiles card? Air miles credit cards are good for those who: Spend a lot Are a regular traveller Are flexible (availability of flights is more restricted when redeeming miles) If you fit … [Read more...] about Why should I use Airmiles? From Virgin to BA to Avios here are the best Airmiles credit cards and loyalty schemes
IT'S fair to say Brits' love affair with plastic shows no signs of ending. Millions of us don't think twice about reaching for our credit card for everyday spending or splashing out and putting the summer holiday on it. In total, we've got an eye-watering £61billion in outstanding card debt but what about when the bills finally come through the letter box? There are increasing concerns that Brits are carrying too much debt with watchdog the Financial Conduct Authority (FCA) warning that five million of us are struggling to to clear their debts. But there is a way you can cut the cost of your bills - potentially by thousands of pounds - and interest payments by switching your debt to a balance transfer card. There's a few things you need to be aware of but if you use them properly, they can make a real difference to the cost of your debts. Here's what you need to know about how you can save thousands of pounds. What if you could get a credit card that helps you pay off your debts? … [Read more...] about The easy way you could save THOUSANDS when paying off your credit card