CREDIT CARD CONSUMER GUIDES

IMPORTANT : This guide is only to be used as a suggestion , and no responsibility is taken for errors or ommissions. It is not intended to be an authoritive guide.

Here we explain things related to the credit card , flexible friend industry from financial jargon to consumer related issues .

Top Consumer Pointers - for getting the best deal out of credit card cos :

Use your card to pay for goods or services costing in excess of a certain fig you will often get added protection - often £100 with your credit card – you’ll get extra buyer protection - which makes Visa and Mastercard etc orders ideal for internet shoppers using online shopping trolleys.Cashback cards companies are inbusiness to make big money from interest on overdue payments so always check your payby date - if you are prudent and pay on time you can usually get low or no - zero - nada interest on balances for up typically 8 weeks - better than a short term bank loan rate! credit card cash machine withdrawals areoften costly - you will often be charged ongoing interest immediately after taking the money out of the wall. Look At Your Credit Card Statements
You should be mindful to check your monthly credit card statement it will be itemised listing the amounts of each transaction dates and merchant name (though not necessary the shop name) for each transaction , and usually the location . Some online transactions are done overseas (especially web orders) so might be in dollars or other currencies , so always keep a record of your online invoice when you order online so you can tally with your statement . If you spot a purchase that you don't think you made - don't have a coronary - most fleible friend companies offer some level of buyer protection which includes stolen cards and fraudulent use of your credit card . - Hopefully "chip and pin" will help eliminate a lot of the fraud but over the net purchases "person not present in the shop" still represent a problem - Also people can steal ( called phishing ) your important details by installing nasty little prgrams on your PC or contacting you by email posing as a major bank- there's little you can do except make sure you have a good anti virus / and firewall installed on your PC , and never give out sensitive information unless you are on the main banking site.

How Much Interest Do I Get? In general go for the cards offering the lowest possible APR these will probably be the cheapest for you . You should also look for credit card companies offering interest free and how long the 0% period is - remember to allow for time of paying off your monthly balance - if paying by post it can take 3 days for 1st class postal deliveries - perhaps consider taking out a n automated direct debit so that you can pay regularly without tieing a knot in a hanky . If you do this you may never pay any interest!

Can't Get Hold Of A Card ? - Are you credit scored .... When you apply for a credit to buy a new mobile phone loan or holiday etc. or take out just t any kind of subscription , your credit card company will automatically check your personalised credit scoring . As well as looking at your financial status , the credit company may approach one of 3 UK credit reference agencies ( "CRAs" ). These provide the credit companies details of your historical credit accounts , electoral roll details with your address , and any previously done credit searches. By law UK citizens can check their own credit files by paying a fee - typically £2 to each of the CRAs: these are Callcredit 0870 060 1414; www.callcredit.plc.uk , Equifax 0870 010 0583 www.equifax.co.uk and Experian 0870 241 6212 www.experian.co.uk.

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