Compare credit cards
August 13th, 2009
Basically, the best way to get a good deal is to compare credit cards. That way you can get a broader picture of what is on offer – the APR rate can vary massively, as can balance transfer and purchase fees. There are some cards which have an annual fee on them (those are usually the really exclusive ones aimed at businesspeople and the rich). You have to be earning over a certain amount in order to get approval for one of those so if you earn less than about £75,000 per annum. Some have even higher earning requirements.
If you just go in blindly and pick a card because of its fancy design or an introductory offer, you could end up with something that doesn’t actually suit you at all. Your buying habits might be much suited to another card or you might even find that another way to pay is better for such (such as a debit card or prepaid card). There are lots of good comparison sites on the internet which are dedicated to financial products. They have already looked at all the features of the items (such as cards, loans, trade platforms etc) so can tell you what the advantages and disadvantages are. That way you can focus in on what stands out and then examine it further. For example, when you compare credit cards you might spot a card which has the lowest APR rate on the list. Then you can look at it more closely by reading a review on it.