Saving Money on Payment Protection

Creditcard.co.uk advises that Payment Protection insurance policies on your credit card payments are generally poor value for money, when compared with income protection or health insurance policies. **For more information, please see our payment protection insurance glossary definition or compare insurance policies at insurances.co.uk.**

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Using your credit cards abroad

You must be careful when using your credit card abroad as every transaction you make outside the UK (including onlinetransactions from many websites) may incur ana service charge, as high as 2.75% in some cases. Cash withdrawals from ATM's will charge a fee aswell, typically between 1-2%. More>>

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Paying off Your Balance

When juggling more than one card it is wise to pay off one card in full instead off paying off small amounts on each at the same time. You may also be able to save by transferring your blance from one card onto another with low balance transfer rates More on: paying off | balance transfers.

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Avoiding Late Fees

Missing a payment or exceeding your credit limit will incur a a late payment fee. If you regularly miss payment dates or completely miss payments this will go on your credit file lowering your credit score, making it harder to borrow money in the future

Our advise to avoid late payments is to set up a direct debit so that at least the minimum balance is paid off each month and you are not charged for missing a payment. Ideally you should always try and pay off the full balance each month to avoid late payment charges all together

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Comparing Credit Card Offers

When comparing credit card deals, you must always make sure you compare like with like, as the are so many different types of credit card each offering different options and benefits. Remember that 0% APR deals generally only last for upto 6 months, with the interest rateincreasing quite substaintially afterwards. More >>

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One At a Time

If you make an unsuccessful application for one credit card, we advise you to check your credit file, then wait a few months before applying again.

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Cash Back Reward Cards

Credit cards that offer cash back rewards and other loyalty schemes such as Air Miles usually have a higher interest rate than average meaning that they are only really good value if you pay off your full balance each month.