Balance transfer cards give you the opportunity to move existing debt to a new card, which usually charges a low interest rate. However, it does usually require a fee to be paid. If you don’t pay off the debt by the end of the low-interest...
There is no clear answer to this question as it depends on what you need from a credit card.
You can repay your credit card debt at any point.
Usually, you will pay a higher rate on credit card debt than you would receive from your savings, so it makes more sense to pay off debt first.
Again, this depends on your circumstances but could be worth consideration. A lot of banks offer interest-free overdrafts that could meet your needs.
This depends entirely on your own circumstances. Generally, loan rates tend to be lower than credit card rates, but it depends on how you manage your money.
When purchases are made using an interest-free credit card there will be no interest added onto the debt for an agreed period.
The majority of credit cards come with an interest free period, during which you can essentially borrow money for free, as long as you pay your bills in full. This will not apply to cash withdrawals.
A soft search is a check to see which credit deals you’re most eligible for before applying. This kind of search will not impact your credit history.
When you apply for a credit card a credit check will be carried out, with this deciding whether you get accepted and the interest rate offered.
Compound interest is interest paid on interest. It can cost borrowers huge sums of money as it accumulates.
APR stands for annual percentage rate and is used to calculate the cost of lending on financial products. Due to the inclusion of charges, APR can be somewhat difficult to understand; the interest rate may be 14 per cent, but the APR could be 17...