Flexible Borrowing

The Freedom of Credit?

The main attraction of credit card is that you can make purchases upto 8 weeks before you have to pay for them, and not pay interest. This is very useful when you need money or need to make a purchase before your next payday which you could not do with a debut card since the money needs to be in the account. But it is very easy to get into the habit of making many purchases on your credit card without realising the consequences at the end of the month, so caution must be taken when using your credit card!

Your flexible friend....?

Borrowing on credit couldn't be easier and is very flexible as the process of setting your credit limit is very simple and can be done over the phone by just providing some information.

The ease of spending on a credit card can be seen as a blessing or a curse. Convienient usage can quickly add up to large debts, so manage your spending wisely.

Friends to keep an eye on

It is very tempting tobuild up a large balance on your credit card account during high spending periods such as christmas or on your holiday. If you can't pay this off in full in the intermediate period then you may find yourself running up a huge interest bill.

If you find that your credit card balance is getting larger feach month, then it might be worth considering using your credit cards in conjunction with an overdraft, a loan, or other forms of borrowing.

"Off Setting" Your Credit Card Balance

An increasing trend with card issuers is now enabling you to reduce the interest rates by matching your credit card spending along with a savings account, or your mortgage. Cards which are linked to savings, like The One Account, or Intelligent Finance, allow you to save up a surplus when you can afford to, and to borrow on your card when funds are tight, or when you need to spend money for special events such as Christmas, a wedding, or to go on holiday.