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.