Comparing Credit Cards On Websites
If you have made the decision to
apply for a credit card then the easy part is done but the real challenge
awaits. At this point you are most likely asking yourself, what is going to
be the best card for me?
With so many credit card lenders
existing today it makes it difficult for consumers to select the best
lenders possible but I strongly recommend comparing credit cards as you will find that interest rates are varied and more competitive. It is
almost guaranteed that each company will certainly try to outdo one another.
There are many websites dedicated to
finding the best credit card deals depending on an individuals circumstances
and by including the interest rate (APR) you want, this will narrow down
what can be an important yet potentially long decision.
Websites such as www.ukfinancialoptions.co.uk will be able to help a consumer compare credit cards from the comfort of their own home.
And there are many other excellent
comparison websites for credit cards and other financial products and
services.
Why compare?
Whether you are looking for a new
car, house or credit card, comparing others against one another in a
competitive market results in finding the best deals possible which is
better for you and most importantly your wallet.
The internet is the best place to
start your search where not only can be secure excellent credit card rates
you can also have the convenience of applying online which takes an average
of 5 – 10 minutes and an instant decision is given (in most cases).
Credit Cards and Bad Credit
Individuals
If you have been unfortunate enough
to suffer at the hands of bad credit in the past then until your rating
repairs itself, there is not much to compare in the market if you are
considering a credit card.
There are several lenders which will
accept individuals with a bad credit rating but it does limit the choice and
doesn’t give much comparison between these companies with the average rating
of these cards being around 27.9 – 29.9%. It may seem high but once a credit
rating begins to repair itself then particular companies could choose to
drop the rates accordingly and in terms of how your account has been handled
over time.
Aside from the rates being higher
than average, the companies involved may ask for a deposit to be held on the
account which could be expected to be around £200 - £300 (dependant on the
agreed limit). With companies such as Capital One, in most circumstances
involving bad credit, they WILL request a deposit to be paid before your
application is officially approved and your card being issued.
Capital One offer a service for
individuals with poor credit and more information can be found by visiting
www.capitalone.co.uk or alternatively, www.uswitch.com will be able to
provide information on bad credit lenders.
One other company which accept is:
www.vanquis.co.uk
I would issue a warning with this
one because the rate for those who are looking to build their credit rating
is 39.9% which is extremely high and makes one pose the question, am I that
desperate for a credit card?
Overall, whatever your rating always compare credit cards because you never know what you will find
with a little help from the internet.
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