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How to Compare Credit Cards

If you are looking to get a UK credit card, then there are certain factors that you need to consider before you actually go for one. You need to identify your requirements first and then consider the pros and cons of each card that you find online. All this will be easier if you visit a website that offers you the information to compare credit cards.

You will have to look for the one credit card that can provide you some of the best features as well as flexibility. Choosing the wrong credit card can be suicidal as your life and business will spiral around the interest rate charged by the credit cards or the feel charged for every purchase you make. You will also have to decide what kind of feature you are looking for like are you looking for a bad credit card, money back credit card, business credit card, student credit card, charity credit card, purchases credit card or secured credit card.

Each of these credit cards has strength. The balance transfer credit card will offer you 0% on balance transfers but no points on purchases while a purchases credit card will offer your discounts and points depending on what you purchase and where you purchase from but the APR variable may be higher and so will the fee for the balance transfers. So it is essential to identify what you require before you actually sign up for a credit card. The features like annual fees, interest rate, introductory APR, and protection or theft liability etc are very important part of every credit card.

If you intend to pay off the entire amount or balance on your credit card every month then you should go for a card that has no annual fee rather than one that offers a low interest rate. Handling credit cards requires a lot of kill because any wrong decisions can completely over turn the cash flow or the spending on a credit card. This can be quite harmful from the financial point of view. If you think that you will not be able to pay the complete amount every month then choose a credit card with low interest rate.

One of the most important and primary feature in a credit card is the interest rate. For example: Barclay Card offers a credit card with a monthly interest rate of 1.167% while the Lloyd TSB Platinum card has a monthly interest rate of 1.24%. So the Interest rate is lower in the Barclay card. Both the cards offer travel accident insurance. The Lloyd TSB Platinum card offers travel accident insurance of approximately £100,000 while the Barclay Card offers £50,000. After comparing the two, you will find it easier to choose the right one because is probably one of the most important factors in deciding which credit card you want.

Credit cards are strong financial instruments that can enhance your purchasing power and hence should be taken seriously. You can use a credit card to take out cash from an ATM in emergency situation or use it to buy an air ticket, laptop, and even pay for a car loan or a home loan.

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