Before the credit crunch, the number and type of credit cards available was staggering. Every lender had a menu of products, now we are in the position where credit is being offered only cautiously, but the lenders must still keep lending to keep in business. So even if times are tight but you are responsible borrower, now is a good time to use the credit market to your advantage.
 

0 Balance Transfers

 
With the Christmas excess most of us spend much more than usual, though as long as you are realistic with you’re spending a 0 balance transfer might just help take up the slack. There is a massive choice of lenders, so, with good history you should be able to compare the offers and choose the best rate for your circumstances.
 
At one time the choice was between a 0% card or an interest free credit card, today, all of the best offers try and tie in an interest free period with a balance transfer. This has the potential to give the borrower a really flexible card- for the duration of the offer.
 
But- gone are the days of free debt, every provider now levies a transfer fee on all transactions to ensure even if you stick to every term and clear your debt before the end of the period they have made the transaction worthwhile for their business. So, if you’re a responsible borrower you may still use the credit market wisely and to financial success, but as always, understand the terms so as not to receive any nasty surprises in the new year.
 
 
 
 
 
 
 
 
 
 

 
 
When considering applying for a credit card, many people prefer to seek out companies with instant decision credit cards on offer. What people are often unaware of is the fact that the instant decision deals are only really on offer to those with a great credit score.
 
Most if not all of the companies offering instant decision credit cards will have a caveat stating “Subject to Status”. Only offering the instant decision deals to certain high scoring applicants is normal, and is along the same vein as only giving the advertised rate to people with the highest credit scores.
 
Whilst both of these facts may seem like an unreasonable marketing ploy, designed to get people to apply for the deal, and then in actual fact offer a deal that seems much less appealing, credit providers would argue that a person with a lower credit score is a higher risk for them, and so they need more of an incentive to take that risk. Whether this policy is fair or not, it seems that it is here to stay.
 
The best thing to do is just be aware that the APR and other rates that companies advertise, and the speed at which they say you get a decision after applying for credit are not necessarily the ones that will apply in your personal case. Be sure that you are 100% happy with what is on offer before agreeing to let the credit provider carry out a check on your credit file, as too many checks in a short period of time can in itself lower your credit score. So be sure to shop around and compare many different card, before deciding which you wish to apply for.