What we look for in a credit card ?
This page describes what to look for when choosing a credit card, including comparing cards. It tells you what happens when you apply for a credit card and what you can do if the application is rejected.
Choosing a Credit Card
There are hundreds of credit cards available,so shop around to get the one that suits you best.
Start by thinking about what you want to use your credit card. It allows you to buy things online or on vacation, pay bills or share your purchase costs. But when you decide to use your card,the main question is whether you pay what you owe each month or spread the repayment over the period.
If you can pay off each month in balance and on time,you can take advantage of the interest-free period. In this case, the interest rate may not be so important, but it is worth looking at other incentives and cards like cash back. Even if you think you pay to plan what you will do if you can't,you can pay the balance in full at any time.
If you want to use the card to make a loan and not pay the balance every month, you will usually have to pay interest. In this case, you need to choose a card with a low interest rate. You need to make sure that you can afford regular repayments.
For more information about choosing credit, see Getting the best credit deal.
If you have previously applied for a credit card
Applying for too many cards or changing cards regularly can affect your credit rating. Every time you submit an application,it will be included in your credit report. The file is displayed even if the request is rejected. When a new provider checks your credit file, it may seem that you already have a lot of cards or no one wants to lend them to you.
Learn more about your credit rating and how your lender decided to provide credit.
If you're struggling to pay off your debt with a credit card,find out how to deal with it.
Checklist of Things to Look For When Choosing a Credit Card
Here's a checklist of some things to look at when choosing a credit card:
Annual interest rate (April). These are the costs of borrowing on a card if you don't pay off the entire balance each month. You can compare Apr with other cards so that you can choose the cheapest one. It is worth comparing other things about the card, such as fees, fees and incentives
Minimum wage. If you do not pay the balance every month, you will be asked to return the minimum amount. This is usually about 3%of the balance, or the higher value of ②5
Annual fee. For some cards, there is an annual fee for using the card. Fees will be added to the amount due and if you do not pay them in full, you will have to pay attention to the fees and costs
Payment. Check the credit agreement to see what other fees will be charged. You will usually be charged for exceeding your credit limit,using overseas cards and late payments
Reserve interest rates. This starts with paying low interest rates or not at all. Then, after a certain period of time, the number increases. For example, it can increase after 6 months or after a certain moment. You can often see introductory fare balance transfers. When comparing cards, see how long the introduction rate lasts and how it changes at the end of the introduction period.
Loyalty points or rewards. Depending on how much you spend, score together and you can then use it to buy prizes. Sometimes this is especially in stores. Check how and where the rewards are used and think about how likely you would use them
Money back. Here you can get money back on your card,depending on how much you spend. Make sure you are likely to get your money back. For example, it can only be applied if you pay the balance every month. Lower interest rates can be a better deal.
See getting the best credit deal for more information on April.
Compare Cards
The most important information you need to get
When obtaining information about a credit card, a box with standard information about the credit card should be included. This should include interest-free periods,interest and other expenses. This makes it easy for you to compare different maps.
For more information about the credit card summary box with a description of all the terms meaning, see the UK Card Association website 방문:www.theukcardsassociation.org.uk.
Using Comparison Sites
On comparison websites you can see what other credit card providers offer. There are many comparison sites, and not all credit cards appear on all sites. So you may need to look around for a specific product.
More information and information can be found on some comparison sites.
Credit Card Application
You can request a credit card:
Online
Posts
Phone
Bank or building association.
You need to fill out the form and check your credit history with the credit reference agency,the credit card provider, to see if the credit is worth it.
Credit reports contain information about how to manage financial affairs, such as bank accounts and other credits. It tells the provider if you are a good payer and the court decision you have had for the past six years. You can check your credit report yourself by contacting a credit reference agency. Rates are small.
For more information about your credit history and how to contact a credit reference agency, see Credit rejection at Credit.
When filling out a credit card application, make sure that all the information provided is correct. If you are not sure how to fill out the form, ask your credit card provider for help. You must sign a form to say that all information is accurate and that any false information you provide may be considered fraudulent.
Signing of a credit agreement
When your application is accepted, you will be asked to sign a credit agreement. This document is a legal document that specifies what you and your provider agree to. The credit agreement includes information such as how much you can borrow,how much you can repay,whether you can add interest and fees,rights and obligations under the contract and other conditions. Always try to read the fine print so you know exactly what you agree on.
Other Card Holders
You can apply for more cardholders to get permission to use your card. But remember,if you do this, you are responsible for paying for everything they spend on the card. It is advisable to agree the rules with the other cardholders about when they can use the card and make sure they disclose their expenses. Otherwise, you may have more to go over your credit limit or pay off than expected.
If the application is rejected
Providers do not need to issue credit cards. Your application may be rejected if your credit score is low or you are not a good risk. Ask your provider to tell you which credit reference company they use if you would like to check your credit file.
For more information about how your credit card provider decides to give you credit, see Credit Denial on Credit.
Although the credit card provider may decide not to give you credit,they should not discriminate against you when making their decision. This means they shouldn't refuse to give you credit because of your race,gender,disability,religion,sexuality or where you live.
If you feel discriminated against when applying for a credit card, ask your advisor for advice(e.g. citizen's advice). Select the nearest room to search for information about the nearest room, including who can give advice via email.
Additional help and information
For more information about credit card processing, see Credit cards.
The Money Advice service website has a lot of useful information for borrowing and managing money.
On comparison websites you can see what other credit card providers offer. Some examples of comparison sites include:
Which one? -www.which.co.uk
Money Facts www.moneyfacts.co.uk
