Credit Card Expert

How To Compare Credit Cards

Why compare credit cards? Most busy people don’t have the time, the inclination or interest, to compare their credit card and research whether their current credit card is giving them the best financial deal.  The truth of the matter is, that you may be one of those people who’s credit card is not exactly working for you as it should and consequently, through negligence you may be unnecessarily losing money or worse getting into even more debt!  Pardon the pun but you have to master your credit card and choose wisely.  Here at `credit card expert’,  we advise you on comparing credit cards and what you should consider when choosing a credit card.

Primarily analyse your spending habits, what and how you spend. Secondly ask yourself, do you pay off your credit card in full each month? Third, think about what is most important to you in a credit card moreover how your credit card should work for you.  Forth when comparing credit cards, consider credit card reward schemes? Is there a facet of your credit card that you could positively utilise for you and your families own financial benefit? When considering the above, you could say that there are positive aspects to credit cards.

 Here at` Credit Card Expert ‘ we advise you to consider the following points, when comparing credit cards:


•    If you are switching credit cards because you want to do a balance transfer, make sure you know what the switching fee is.

•    Remember (when doing balance transfers) 62% of credit cards
revert back to typical APR, if you miss a payment.  Find the 38% of credit cards which do not have a severe charge, if you miss a payment.

•    When doing a balance transfer, how long will you get 0% for? 3 months? 6 months? 12 months? Remember not all credit cards, offer the same amount of interest free time.

•    After reading www.creditcardexpert’s  `credit cards deals’ section, consider whether a credit card with a special feature or reward scheme, will be beneficial to you. Compare all the credit card reward schemes. Also compare `added benefits’. For example, some credit cards offer: price promises, travel insurance, warranties on domestic electrical purchases and car insurance.

•    Does a credit card, at the end of its introductory period, have a high interest rate?

•    Look at comparing credit cards annual fees? There are credit cards which do not charge annual fees.

•    Look at the spending limits of credit cards. Do not exceed your limit.
Some cards will up your limit but this is dangerous, as you will get more in debt.

•    Different credit cards have different ways of calculating interest. Currently the most popular credit cards, have 12 ways of calculating interest. It is essential that you understand how credit cards calculate interest, when comparing credit cards because this is precisely how credit cards extract more money from the financial consumer.

•    Remember that we at `Credit Card Expert’, have advised you to be conscious of hidden fees and extra charges. This is one of the fundamental ways that credit cards manipulate and make money, out of you. Perhaps quite simply, it may be easier for you to research into the most expensive credit cards and then by a process of elimination, you can deduce the best credit cards, that are available now.

•    Remember you do not need, `Payment Protection’ insurance. To generalise, this usually costs the financial consumer an extra 9.15% annually.

•    If you are a person that does not manage to pay your credit card bill in full each month, then do not get a credit card with MMR’s of 2.5%

•    If you are a person, who is in debt and you do want to reduce it fast, then do go for the balance transfer credit cards.  You can keep switching but remember you have to be on the ball!  You must remember when the 0% is up!

•    If you work, travel or holiday abroad frequently, remember that `Credit card expert’  warns about credit card usage abroad and the many excessive charges that will be added and incorporated into your  credit card bill. In relation to this, if you do travel, work or holiday abroad frequently, The Nationwide Visa credit card, does not charge a currency conversion fee nor is there a commission on your purchases and you will have no charges on cash withdrawals. This credit card therefore is the best value for money, for foreign exchange. This card should purely just be used abroad because paradoxically, the Nationwide Visa is not cheap to use in the here in the UK.

•     Remember don’t loose focus; the most important factor when choosing a credit card is LOWEST INTEREST RATE!

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