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            Best Credit Cards

Have you been debating with yourself or even your spouse about getting a credit card? Not too sure about the pros and cons of having one or even the types of cards available in the United Kingdom? These days there are a huge variety of cards available on the market, having the credit card companies fighting for offering the best deal to you. With so many different cards on offer, now would probably be the best time the get the most suited deal to fit your and your family’s very own needs. But let’s take a closer look at the different types of cards on offer:

Cashback Credit Cards

Want to earn money as you spend it? Sounds like a good and wise plan to me! Having a Cashback Credit Card earns you a percentage back of the money you spend on your credit card. If you are generally a big spender with your card and you pay your balance off every month, this will work great for you.

Rewards anyone?

A rewards card offers you incentives or bonuses for using the card to buy purchases, usually in conjunction with other companies alike. This is a good incentive, as you just might win that car they are offering!

Transfer Credit Cards

Balance transfer cards allows you to have money in interest payments by transferring the balance from your existing card to another one who has a 0% balance transfer rate or even just a lower rate. This proves very helpful if you have outstanding debt on a few of your current credit cards. But do try and pay off as much of the amount as you can afford to each month, also don’t forget about the once of fee some of the establishments charge for this service.

Business credit cards

Businesses that have a credit card usually have it for one purpose: Being able to have control over the employees spending. A business credit card can have many sub cards, issued in different names. This method just makes it easier for the company to keep track of money spent and makes the reconciliation at the end of each month much easier to do.

Secured prepaid credit cards

Secured credit cards are for those who do not like spending what they don’t actually have. They are also called prepaid cards, since you have to inject funds into the account before being able to use it. This card has various benefits, from the no interest aspect to no-debt and you always have guaranteed approval. This is also great to use when you have children and don’t want them having cash lying around.

Having a charity credit cards allows you to support your cherished charity with a small donation, simply by using your card when you go shopping. Every time you use your card at a shop or any other establishment, a small amount will proceed directly to the charity your card supports.

Now that you have a few options, the debate about getting a credit card should go a bit smoother!

Credit in Minutes Tip #1

Stay on top of your credit report. Most credit reports contain errors. Make sure you check your credit report every year (you get one free credit report every twelve months) and if there are errors make sure to challenge them with the reporting credit agency. Credit agencies are required to investigate each and every challenge that gets reported.

Credit in Minutes Tip #2

Just because you qualify for all of those credit cards does not mean you should get them. A person with too many credit cards looks sketchy in the eyes of a potential creditor. Think of it this way: if a person is financially stable does he or she need ten different credit cards? Wouldn’t just one or two suffice?

Credit in Minutes Tip #3

The best way to raise your credit score is to make all of your payments on time. It sounds too simple to be true, but that’s all there really is to it. Staying out of debt and/or making all of your debt payments on time will keep your score up where it should be.

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