Categories
credit credit card credit score interest rates

Optimal Uses of Credit Cards In The UK

The fact of the matter is the UK is a very successful currency of international trade. In a region that enjoys trade and commerce with many other countries, and holds high levels of international prestige, the UK creates great opportunities for its expatriates to gain knowledge, experience, wealth and competence in the world’s most dynamic industries.

There are many benefits that a UK credit card can accrue in this way; the most obvious being many of the lowest rates of interest and few of the longest grace periods. This is mainly due to the fact that credit cards accrue interest free of charge, provided that it is within the general prudence of the financial manager to incur any additional charges. They can hold interest free credit for a fixed duration; the UK offers a grace period of 20 days, which is generally the longest such grace period in the world. A credit card holder is charged zero total finance charges for every day spent outside this period.

There are also other benefits provided for Britons by joining the WTO, enabling it to give its members access to free trade in their domestic products and services. UK credit cards benefit enormously from WTO access. WTO access means that UK credit cards are covered with certain uniformity standards, made available to all WTO members at no additional charge. The advantage of WTO access is that UK credit cards are also offered the cheapest interest rates and the shortest grace periods.

In effect, Britain’s advantages to other WTO member nations are twofold. The first is that Britain offers WTO members access to both foreign exchange rates and the general rates of the currencies of other member countries. This puts the UK economy at ease in the eyes of the outside world.

The second benefit provided by a UK credit card is its low interest rates. There are many credit cards overseas that have very low rates of interest. Some UK credit cards offer interest relief from expatriate fees and finance charges. Others can be used automatically, simply by the card. Thus it becomes a very simple process when a credit card holder is planning to apply for more than one credit card and is informed of his availability in a particular locale.

UK credit cards have also come into vogue in recent years with various promotions designed to appeal to trade and consumers alike. The biggest trend on the credit card cards overseas is that of rewards points. The points are given for every dollar spent, offering bonus points for every dollar charged. There is a simple shopping experience if one purchases the merchandise of the UK exclusive partner on the UK card abroad. You then earn 1,000 points. There is another great promotion called ‘Kitty Bonanza’, in which you ‘kitty kittelefer”, earn ‘500 points when you spend ‘25,000 in the UK.

Given all this, it becomes very tough to imagine a simpler package for Britons abroad.

Opting Out: How To Stop Credit Card Fraud

People who are behind in your payments or don’t make their repayments on time are likely to be finding many of you to be one of their worst problem. If you find yourself in this situation – and I’m not suggesting you do anything illegal or do anything silly like that – there are steps you can take to try and stop fraudulent use. Your credit card issuer should answer for their commitment to do everything in their power to make sure that you are providing your repayments with proper trust and respect. Under the Fair Credit Billing Act 2004 (the “Bill”), they cannot intervene if they see it is in the public interest to do so. Simply put, if you are looking to make a late repayment, but your late fee has been paid, and your account is not continuing then – under the Fair Credit Billing Act 2004 – you have no control as to what that has to do with you. So, under the Act you are free to ignore them – or else. There is also the matter of your credit score. You are entitled to a free Copy of the Fair Credit Billing Act if you disagree with a shopr or lender about your credit score. You can get that free, unless you signed up for a statement saying you agree with them. So, if they report you to a true debt collectors, can you stop them turning up? If you think you might be subjected to such treatment try contacting your credit card issuer. When they get back to you – they will happily give you a full free statement and I guarantee they will tear it up. But no, thanks in advance for that letter.

Tips for Keeping a Higher Credit Card Limit

Most people do not know credit cards are high or their limit is what they want to think they are.