02 October 2012

All You Need To Know About Poor Credit Rating Cards

Credit cards are extremely useful. Not only are they really easy to use, convenient and have worldwide acceptance but they can give you more financial freedom. When you take out a credit card you are given a credit limit which is essentially borrowing money. Each month you will be sent a statement listing all the transactions you have made and what you owe for borrowing the money which is the interest rate or APR. Credit cards are very usefully so many people will want one. However, if you have a poor credit history you will struggle to get the card that you want. So what are your options?

Poor credit rating cards are especially designed for people who have damaged their credit scores which can easily be done simply by missing payments. They are also designed for people who have no credit history at all and those who have been refused a credit card elsewhere. These cards can help you rebuild or start to build your credit rating. As long as you use the card responsibly you will start to see your rating improve which will help your future chances of borrowing. A better credit rating means you will be able to borrow more with lower interest rates.

The main drawback of these cards is that as providers see you as more of a risk the interest rates can be considerably higher when compared to other types of cards. You will also find that the credit limits can be lower. If you miss payments as the interest rates are so high you can find the charges can easily accumulate. There can also be other charges which can easily spiral out of control. By missing payments you will also damage your credit rating even further which will not help your future chances of borrowing.

Before taking out one of these cards you need to make sure that you understand the risks and dangers of a credit card. It is important that you take the time to research the market and compare different cards against each other, weighing up the pros and cons of each. You can use sites like Which Way To Pay which will help you find the best deal available. Always make sure you read the terms and conditions thoroughly and that you are aware of any fees that are associated with the card.

02 August 2012

Why Get A Reward Credit Card?

Many of us have credit cards. They are a fantastic way to keep our finances ticking over and ensure the smooth flow of money without paying interest for borrowing short-term. They can help you build up a good credit rating, making it cheaper and easier to borrow in the future, as well as giving you insurance on all of you online purchases.

There is more to credit cards however, if you want there to be. Reward credit cards have all the same features as a regular credit card, except that they give you the ability to collect points as you use it. These points are then redeemable for a range of rewards of your choice.

Whatever you’re into, there is a reward credit card out there to suit your needs. You can get reward cards for your favourite supermarkets, giving you points to spend in store; you can get gaming cards to buy games, gadgets, films and more with your points; you can go shopping for free and get hefty discounts; you can collect air miles to put towards your holidays and you can even get free insurance.

There is a wide range of cards out there, so it’s worth doing your homework to find the best deal for your spending habits. Make sure you compare all features of the cards, from annual charges, the amount of points you will collect with each pound you spend and the interest rates.

Compare Reward Credit Cards Today!

13 July 2012

Going Away This Summer? Make Sure You Have The Right Travel Insurance

Holidays can take a lot of time of energy to plan not to mention they can cost a lot of money. To protect what can be a major purchase you should think about taking out travel insurance. Unfortunately, the unexpected can happen and failing to take out travel insurance can turn a holiday into a costly financial nightmare. A comprehensive travel insurance policy can be a great help if you have to deal with any number of problems while you abroad. Travel insurance can cover you if you experience travel delays, cancellations, missed departures, lost, delayed or stolen items including your belongings, money and transport, emergency medical treatment and repatriation, personal liability and legal expenses. You can also get additional cover options including winter sports, hazardous sports and leisure activities, terrorist incidents and if your airline goes out of business. You can buy travel insurance for a single trip or an annual policy for all trips taken in a year.

When deciding on the right policy for you bear in mind that different travel insurance policies cover different things and the risks that are covered will vary from policy to policy. With this in mind always make sure you know exactly what is and isn’t covered before you sign anything. You need to decide what is important to you and make sure that the policy you choose provides the right level of cover for your circumstances. This will help you avoid any unexpected surprises if you are unfortunate enough to make a claim.  Remember that price isn’t everything because the cheapest insurance is not necessarily the best as it will offer the least amount of cover.

There are a huge range of policies and so it is essential that you take the time to find the best cover to suit your pocket and your travelling needs. Buying travel insurance through a tour operator or travel agent is typically much higher than what is available elsewhere and you shouldn’t be fooled by holiday operators who insist that you take out their own insurance. The best way to find travel insurance is to compare policies online. Sites like Which Way To Pay are great places to find some of the best travel insurance deals. 

05 July 2012

Why Are Payday Loans So Popular?

Payday loans have been talked about in the press a lot recently. Despite the bad press they are one of the most popular products on the financial market at the moment. The reason why so many people are turning to payday loans is because they are one of the easiest and fastest ways of getting hold of instant cash. People take out payday loans for a number of reasons. If you are struggling to make ends meet before your next payday or an emergency expense has caught you by surprise then a payday loan could be considered.

Another reason why payday loans are so popular is that they are extremely accessible.  There are minimal credit checks involved and as long as you are over 18, have a bank account and a regular income you are pretty much guaranteed to get approved, even if you have a bad credit history. To get hold of a payday loan all you have to do is complete an online application which will only take a couple of minutes and you could have the money in your account in under an hour.

There are certain dangers that come with taking out a payday loan. It is paramount that you are certain you will be able to pay back the loan, plus the interest when the payment is due. The interest rates on these loans can be very high and so payday loans should only be used as a last resort. As the interest rates so using these loans incorrectly or regularly could result in a debt crisis. In some cases even if the lender agrees to extend the loan you will continue to pay the interest which can accumulate and there may also be other costs for missing payments. Remember that payday loans are for short term borrowing and should never be used to solve any long term financial difficulties you might have.

Make sure you research the payday loan market and compare products before you make your decision.

28 June 2012

Get Back On Track With A Debt Management Plan

Can’t see a way to pay off your debt? Do you want to be living a debt free life? A debt management plan can be a great debt solution. It is an informal arrangement that avoids the need for formal insolvency procedures such as an IVA or bankruptcy. With a debt management plan you agree to repay your debt over a period of time, usually extending the amount of time which the debts must be repaid. Your repayments can be reduced to a much more affordable amount making it easier for you to get your life back on track.

What’s great about a debt management plan is that you will be working with experts in helping people get out of debt. Debt management companies will assess your individual situation and tailor make a solution to help you overcome your financial difficulties. You can also rely on support and advice throughout the duration of the plan.

When working with a debt management company they can deal with all correspondence from your creditors so you do not have to worry about being constantly hassled. Debt management companies can even negotiate with your creditors to get them to agree to lower repayments and have the interest on your debt frozen. However, please remember that your creditors do not have to accept this.

Before you consider a debt management plan remember that they can take a long time to complete. Also bear in mind that while the plan can reduce your monthly repayments to make them more affordable to you it usually means that you will pay more in total over a much longer period. In some instances if you organise a debt programme this may show up on your credit reference file, which could affect you in the future. However, once your debts have been cleared then your credit rating will start to improve which will increase your chances of future borrowing

21 June 2012

Make Sure Your Biggest Asset Is Protected With Home Insurance.

It is important to protect what is probably your most valuable not to mention expensive asset. Some investments, like your home, are just not worth taking chances with. Home insurance is essential with the main benefit being the financial security not to mention the peace of mind. Without home insurance you could face financial ruin trying to pay for repairs and replacements. Imagine if your house burned down and you didn't have the insurance. You may not be able to pay for the repairs but will still have to pay the mortgage.  Home insurance is designed to offer customers financial compensation in the event that damages or thefts occur to their homes. A good home insurance policy will save you money should something happen to your home or your belongings.

Home insurance comes in a number of different forms and the type of policy which is purchased will depend on your specific needs. The exact cost of the insurance will depend on the type of cover that you buy and which insurer you decide on. You should be able to find policies that suit a variety of budgets. No matter where you live, or the size or type of house that you live in you can find a policy that suits you although these aspects may affect how much you will pay for the policy.  Home insurance premiums can usually be paid in monthly instalments or annually. Bear in mind that additional features on the insurance will increase the premiums.

You can get a home insurance quote from many companies easily online or by phone. Most insurers offer an online application form that is straightforward and can be completed in a matter of minutes. To ensure you choose the best insurance policy at the most affordable price, be sure to compare policies from many different providers. Comparing insurance providers through comparison sites like Which Way To Pay is a great way to find the best deal on the UK market.

31 May 2012

Earn Rewards As You Spend Spending With Reward Credit Cards

If you are looking for a credit card that does more you might want to consider a reward credit card. Reward credit cards work exactly the same as traditional credit cards but the providers offer incentives just for using them. You don’t have to change the way you spend but can earn rewards as you spend. By using the card you collect points which you can exchange for discounts, gift vouchers and even flights. If you plan to use your card a lot then cards with cash back programmes where you earn cash on your purchases could be the right type of card for you. For travellers, there are also some great cards that can offer a wide range of travel-related benefits including air miles, free hotel stays and more. There are some great benefits of these cards which can help you make your money go further. There are many reward credit cards on the markets and deals available to suit more people and their needs.

It is important that you consider how and where you are going to use the card before you apply particularly as there are a large variety of specific reward programmes to choose from. Always check to see what the rewards are as they will only be right for you if you use them. The right card for you will depend on your lifestyle and what sort of rewards you want.

Please remember that you should use these cards responsibly as these cards encourage you to spend because the more you spend the more reward points you collect. With this in mind you must be disciplined. In terms of who these cards are most suited to these cards are best for people who pay off their balance in full each month. Be careful not to be drawn in just because of the rewards. Make sure that besides the reward programme, are you really getting a good deal? You may find that there are annual or monthly fees attached with this type of card. As with any credit card compare the interest rate and all other features of the card before you apply which you can do through comparison sites like Which Way To Pay. When you are comparing the overall value of the card make sure that the card’s benefits and reward programmes are worth any annual or monthly fee.

24 May 2012

Do You Have Bad Credit But Need A Loan?

It is very easy to damage your credit rating simply by missing credit card and loan payments. There are thousands of people across the UK who have a bad credit history. Unfortunately, many people who need a loan will struggle to get the funding they want if they have anything less than a perfect credit rating and obtaining a loan through conventional lenders will be difficult. This is because the banks see you as high risk, and given the current economic climate it is a risk they are unwilling to take. However, there are options for people who have bad, little or no credit and have been refused elsewhere. You might want to think about taking out a bad credit loan which is especially designed for those with a poor credit history.

People take out bad credit loans because you can get one whatever your financial past, whether you have had a CCJ, default or IVA. Furthermore, they are suited to those looking to borrow more money for more time than the amount you can borrow with a payday loan. Another great aspect of a bad credit loan is that as long as you are responsible and adhere to the loan agreement and making your payments on time, these loans can be used to help improve your credit rating. This is because many of these loans come with a credit rebuilding facility. By rebuilding your credit rating this will stand you in a better position in the future when applying for financial products which will result in improved rates and loan conditions over time.

Like standard loans you can get secured or unsecured bad credit loans and there advantages and disadvantages of each. Secured loans are where you are required to put up an asset, used as collateral that is ‘secured’ against the loan. This is usually your car or home. With a secured loan because the lender has your asset as security there is less risk involved for them so you will often find you can borrow more money and will be given lower interest rates. However, there is more risk involved for the borrower because should you default on your payments then you risk having this asset seized. This means the worst case scenario is that your home could be repossessed. With an unsecured loan you do not have to put an asset up against the loan so there is less risk for the borrower but more for the lender and so you will find there are higher interest rates.

All loans come with an element of risk and are a big commitment. With bad credit loans you will find that the interest rates can be significantly higher than on other types of loans because the lenders consider you to be less likely to make your payments on time. As the interest rates are higher the risk of falling into debt is increased. You also risk damaging an already bad credit score which can put some people off. With this in mind you should only take out a loan once you have assessed your personal financial situation and can be sure that you will be able to make the monthly payments. Always be fully aware of what you are applying for and weigh up all the pros and cons before committing. Use comparison sites like Which Way To Pay to find some of the best bad credit loans on the market.