Credit cards part of green financial services evolution by Finance News Bulletin
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Published: 03/09/07
Becoming greener is a preoccupation for many UK customers The tendency of reconsidering how we live and act has caused thousands of individuals and businesses to reconsider their decisions, including their monetary services choices One way in which the monetary services industry is becoming greener is in the credit cards sectorcustomers are becoming aware that the credit card industry is not particularly environmentally friendly, particularly with the amount of artificial being used and then binned
A number of credit card providers are approaching this situation with ground-breaking measuresFor instance, Barclaycard has created a novel card that can be used to disburse for several different purposes Credit cards are also beginning to offer greener discount armed forces – for instance pointing consumers in the direction of environmentally sound services The foreword of multi-purpose credit cards may help to decrease the number of
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Are 0% Balance Transfers Still Going Strong? - Published:17/09/07
Gone are the days when there were no fees for transferring your credit-card equilibrium A couple of years ago this was relatively common, but now you'll have to disburse for the privilege The credit-card industry doesn't have the most excellent of reputations, not least because of the many ploys which regularly sting us consumers The hike in fees on equilibrium transfers is just one of these and typically you'll now have to pay between 2% and 3% of your equilibriumNevertheless, 0% balance-transfer deals carry on to be an excellent strategy for getting on top of our debts I've looked into the very most excellent deals around, which are shown below These cards are most excellent for balance transfers only, as the 0% deals on purchases run over a significantly shorter eraExtended balance-transfer eras are becoming more widespread You won't, for instance, pay any interest on balances transferred to the Virgin cash Credit Card for the first 15 months (The charge is 298% charge) Likewise, Barclaycard is investment its own by offering a 14-month deal (25% fee) NatWest and regal Bank of Scotland want to increase marketplace share, so earlier this year they lengthened their interest-free periods to 13 months, but left the charge at just 2%But, on the other hand, you'll only take pleasure in interest-free purchases for the first three months on most of these cards After that, characteristic APRs of 14%-16% will kick in and you may find the competitive offer you started out with has quickly turned sourIntense rivalry among credit-card companies has indeed led to more and more long balance-transfer periods as they fight each other for a decent share of the market And, if you can afford to repay your balance in full within this period, you will escape paying any interest at all (although you will pay the move fee)But this appears to be at the cost of attractive 0% deals on purchases which on the other hand are getting shorter But still, these cards carry on to be a good choice if you don't intend to use your new credit card for any further spendingIf you believe you will need to spend on your new certificate once you've transferred your balance, I'll take a look at the best deals for combining both in my take notes piece of writing Pay 0% On Your Purchases And Existing DebtsClearly 0% balance transfers remain a useful tool for managing your amount overdue One thing's for certain, if the credit-card marketplace stays as fiercely competitive, and there's no cause why it shouldn't for now, you'll be clever to take advantage of tempting 0% deals for some time to come© patent 1998-2007, The Motley Fool incomplete All rights reserved This material is for personal use onlyPlace of Reg: England & Wales corporation Reg No: 3736872 VAT Reg No: 735 7818 01 Registered Office: 30.
Read More: Are 0% Balance Transfers Still Going Strong? >>A 5% Cashback Card - Published:11/09/07
A few years ago we seemed to be awash with good offers for cashback credit cards But then they seemed to fall out of favour, and it became rare to see any deals that offered more than 05% for any important length of timeCapital One recently upped the stakes with a card that offers 4% cashback in the first three months and 1% thereafter Now Abbey has launched a novel deal, contribution 5% on supermarket purchases This deal applies to its present credit card; Abbey isn't launching a new cashback credit cardSo what's the catch I perceive sound you cry The cashback offer runs from 3 September to 31 January 2008 (just under five months) and is limited to the first £1,000 of purchases you create The supermarkets included in this offer are Asda, Co-op, Kwik put aside, Morrisons, Sainsbury's, Somerfield, Tesco and Waitrose Unfortunately, it doesn't be relevant to any petrol bought from these storesAbbey reckons that the average family spends £190 in supermarkets each month, so many people will be clever to get the maximum £50 cashbackPerhaps the most pleasing feature of this deal is that existing customers will get it too, and without having to do anything However, their cashback period is smaller shorter as it does not start until 1 OctoberAbbey says we can 'wait for to see many more initiatives which offer similarly valuable reimbursement' This offer is worth up to £10 a month, so it will be interesting to see how if they can maintain this level The move comes after Abbey enthused its credit card business back in house, having outsourced it for the last six years to MBNA It's a disgrace they didn't move it back soonerAbbey's credit card also offers 0% on equilibrium transfers for 12 months and 0% on purchases for 3 months This is where you have to be a little careful If you use the balance move facility and then spend on the card to get the cashback, you'll end up receiving charged interest on your purchases That's because any expenditure you make to Abbey will go towards offsetting your interest-free balance transfer firstThe interest rate on this credit card is 159% APR Although that's not particularly far above the ground compared with many cards, it still won't be long before any interest you get emotional offsets the cashback you earn In other words, don't employ this card for both balance transfers and cashbackComparing this credit card to other cashback offers is tricky at the moment because we put on't know what the subsequent offers will be for myself speaking, around 40% of my credit card spending goes on foodstuff shopping, so I reckon Capital One's offer of 4% cashback for three months and 1% thereafter is still a better deal, particularly if you're already planning to make some large purchases in the near prospectHigh spenders should also check American state's Platinum credit card This offers 3% for the first three months and then 05% to 15% thereafter The 15% cashback applies on expenditure over £10,000 a yearMost other cashback credit cards offer a stingy 05% at the moment, although Barclaycard Platinum does supplement this by also contribution 2% on petrol and supermarket shoppingLet's hope more credit card companies go after Abbey's lead and rejoin the cashback battle You can apply for Capital One, American state, and Barclaycard via our credit card centreMore: What's Going To Happen To Credit Cards | Get Rewarded For Your Loyalty | timepiece Out For That 0% certificate Copyright 1998-2007, The Motley Fool Limited All rights kept This material is for personal use onlyput of Reg: England & Wales Company Reg No: 3736872 VAT Reg No: 735 7818 01 Registered place of work: 30 Great.
Read More: A 5% Cashback Card >>Credit card borrowing falls, financing figures indicate - Published:25/05/07
praise CARDS LOW RATE praise CARDSSTUDENT praise CARDS0% APR praise CARDSCREDIT CARDS ONLINEBALANCE TRANSFERSTotal expenditure on credit cards dropped somewhat last month, according to newly-published financing figurespsychoanalysis of statistics from the UK's main banking institutions by the British Bankers' Association reveals that people on loan £01 billion less on plastic in April 2007 compared to the previous monthMeanwhile, the amount of money borrowed via overdrafts and personal loans greater than before by £01 billionIt means that total unsecured borrowing for personal employ has remained approximately static over the last month, which the British Bankers' friendship's director of statistics David Dooks suggests may be indicative of a alter in the UK's financing habits"Lower mortgage demand, weaker deposit enlargement and little change in personal loans or credit card borrowing all point to populace paying more notice to their finances," he saidAs many credit card customers may already be aware, a new green credit card was unveiled by monetary services provider Barclaycard recentlyThe Breathe credit card could be of interest to eco-friendly consumers since the credit card company has pledged to give 50 per cent of profits from the deal to ecological causesCredit Cards | Business Credit Cards | equilibrium Transfers | Low Rate Credit Cards.
Read More: Credit Card Borrowing Falls, Financing Figures Indicate >>