Credit Cards Bureau » interest free

New Rewards Card From The AA

admin — Tue, 17 Nov 2009 17:42:10 +0000

There is good news for car owners looking for a new credit card as the AA is putting a new reward card into the card market that will ease the “financial pain” drivers face in the current climate.

Customers will not only receive points on everything they buy, but they will be able to double their points when purchasing fuel or any AA products.

In may appeal to the 15 million members that the AA has who will be able to benefit from a 12 months interest free period.

With an APR of 16.9%, customers can redeem their points against AA insurance or products as well as shopping vouchers and cash back.

The motorist’s card, as the director of Financial Services at AA put it, believes that reward cards are of particular popularity at the moment. He said “The cost of motoring is constantly rising – not least the price of fuel and the new AA card offers the opportunity to help ease the financial pain of running a vehicle”.

The Balance Transfer Battleground

admin — Sat, 27 Sep 2008 16:05:04 +0000

The future of the balance transfer fee looks set to spark a battle between the credit cards that are on offer by many of the providers at this current time.

With companies such as Virgin and Capital One offering new customers 15 months interest free deals, other providers are now also looking into alternative methods of inticing new business towards their deals. The future way to gain new customers would be by cutting the balance transfer fee that has been getting more expensive over that last few years.

Barclaycard were the first to introduce this method by taking their 3% transfer fee down to 2.5% on their OnePulse card and along with this they have maintained a lengthy 14 months 0% interest free period on the balance that has been transfered into the bargain.

Money Experts, Sean Gardner said “With 75% of the market currently offering a 0% deal on balance transfers, however, providers are now looking for new incentives to pull in business, and lower transfer fees are a clear solution.” He also added ” ‘The best-buy tables have been dominated over the last couple of years by cards offering lengthy 0% balance transfer deals, but there inevitably comes a point when trumping the pack becomes impossible.”

It all seems good news for the consumer, who, in the current climate need to be saving anything they possibly can. For people who are looking to transfer on a new deal, because their current one has expired and they are now on a high APR%, then the lowering of the transfer fee on the new deal is welcome news.

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Looking For ‘Free’ Credit? 0% Purchase Credit Cards

admin — Mon, 01 Sep 2008 20:04:38 +0000

For anyone that plans to spread repayments on their credit card balance the interest rate that is charged is of the utmost importance. The rate of interest charged by your card provider will determine how much you pay both monthly and overall on your credit card debt. In the past many people used to browse and compare credit cards in order to get the best rate of interest and keep their repayments and debts down, but over recent years many consumers have been able to enjoy the benefits of paying no interest at all on their credit card spending.

This is thanks to the introduction of 0% purchase credit cards, which allow cardholders to use the card to make purchases in the normal way but to enjoy a period of interest free credit within which to repay the debt in order to avoid paying any interest at all. Many credit card firms offer 0% purchase credit cards, and the interest free periods that are offered can vary dramatically – for example, one card provider may offer six months interest free credit on purchases whereas another may offer twelve months or more. This is why it is important to make sure that you browse and compare a range of 0% credit cards from a number of providers, as the longer the 0% period offered the more time you will have to repay the balance without being charged any interest.

If you still have an outstanding balance towards the end of your interest free period you should bear in mind that you will be charged interest when the 0% period expires, and therefore it is important to clear this balance before the expiry. If you do not think that you can do this is may be worth transferring the outstanding debt to a 0% balance transfer credit card to avoid being charged interest.

A 0% purchase credit card is ideal for those that want to pay for a larger purchase such as a holiday or large item for the home, and then spread the repayments, as it means that you can enjoy quite a lengthy interest free period so you won’t have to pay any interest for the privilege of spreading your repayments. Alternatively you may want to use one of these cards for certain occasions, such as Christmas or when you go away, when you are likely to make a lot of purchases but do not want to pay for the whole lot in one go.

The 0% interest on these credit cards is not extended to cash transactions and withdrawals, and you will be charged both interest and fees on this type of transaction, so you should avoid these and use the card only to make actual purchases. This way you can enjoy the ease, convenience, and flexibility of using a credit card without having to pay the price.