Finance Tips

UK savers were badly hit in the worst of the recession, as base rates continued to fall to their lowest level in history – 0.5%, the rate at which they still remain, marking the sixth month in a row.

This caused the UK savings market to crash, forcing those that once lived off their interest returns to to dip into their capital.

However, the low rates mean that home-owners with tracker mortgages would have seen repayments plummet, leaving them with more disposable income.

Although the Bank of England base rate remains at a record low, the savings account market has been kick-started, allowing savers to earn up to 5% – 10 X the current base rate, depending on the savings product they choose. Continue reading ‘Fixed rate bonds and saving market 'recovering from recession'’ »

It was recently announced by the Internet credit card giant, Egg, that it was launching a credit card that came with a £1 monthly charge, which although not a huge sum amounts to an annual fee of £12 a year for cardholders. Following the announcement many industry officials have said that this could be the start of something big, and that as well as <a href=" Egg”>http://www.credit-card-comparison-online.co.uk/egg/default.asp”>Egg credit card, many other credit card firms may follow suit and start applying monthly or annual fees to cardholders. Consumers that are taking out credit cards should therefore be extra vigilant in checking whether there is any monthly or annual fee that comes with the card, and if so how much this fee is going to be. For many consumers the only important information is the obvious – interest rates, minimum repayment levels, and the like. A great many of us fail to check the small print to find out about things such as annual fees. One industry official recently stated: “Egg is the first major credit card provider to introduce fees on mainstream products, and this is only the tip of the iceberg. We are likely to see more providers follow suit as they try to claw back profitability following the launch of the Consumer Protection White Paper last week.” Those planning to apply for a credit card could benefit from bearing these comments in mind, and ensuring that they check any credit card marketing material to find out whether any annual fees are charged before making an application for the credit card. This will help to avoid any nasty shocks, and will help to ensure that you know exactly what you are signing up to when you apply for the card. Also, bear in mind that whilst some credit card firms may offer features and benefits that justify the annual or monthly fees some may simply be charging the fees to boost profits. As one industry expert stated: “Ever since credit card penalty fees were capped at £12 back in 2006 we have seen a hike in cash withdrawal fees, foreign usage fees and balance transfer fees – monthly fees on top of this will just be rubbing salt into the wound.”

Reno Charlton, award-winning writer, shares her financial expertise as a contributing columnist for www.credit-card-comparison-online.co.uk and www.personal-loan-comparison-online.co.uk.

Are you trying to decide how to choose the best credit card for you personally? Most people make the decision to own and use a credit card because having credit in this day and age is important if you hope to take out a loan on a large purchase or a mortgage on a home.

There are many draws to different brands of credit cards, from low APR and fraud liability to cash back rewards and air miles. There are many offers and benefits of using different cards, and companies know this and use it to draw customers. Everyone spends in different ways, and it is important to find the right card to serve your needs the best.

The types of offers you may be qualified for is often determined by your current credit. People with good credit will find they receive a lot of mail offering them this deal or that with a new credit card. Know your credit score to see what deals you are qualified for. Unfortunately, those with poor or no credit may not qualify for deals with beneficial perks. You can always improve your credit by making payments on time and not letting debt creep up on you. If your credit is very low to the point where you cannot fix it yourself, a credit repair company can help you get back on your financial feet. While your credit is being repaired, use other means to make purchases and once the process is complete, you will have your pick of some of the best deals available today so you can find the best credit card for you.

Pay attention to the way you shop. If you tend to get a lot of shopping done in one particular store, look for an offer that sends you gift certificates to the stores you frequent the most. This will help you greatly in finding the best credit card for you. Next, be aware of the overall lifestyle you live. If you enjoy traveling or you go away on business trips regularly, keep your eye open for cards that offer frequent flyer miles.

There are certainly many credit card offers out there today. With so many options, it may seem overwhelming at first. By breaking down your spending and traveling habits, you can get a clearer picture of how to select the best credit card for you. For a great way to compare options and rewards, check out http://www.thebestcreditcardforyou.com today!

Best Credit Card For You has made choosing the best credit card offers easy.

The Bank of England has today announced its base rate will remain at the record low of 0.5% for the sixth month running.

It also reported that it would continue to inject up to £175 billion into the economy as part of its quantitative easing scheme, but this amount will not be extended further.

This follows a number of recent surveys that suggest the UK has begun to emerge from the recession.

But the Bank said the recovery would be “slow and protracted” and that it is likely to be months before the full impact of its policies is seen.

The recent optimism about the future of the UK economy has had a positive affect on the FTSE 100 index, pushing it above 5,000 points for the first time since October last year. Continue reading ‘The Bank of England holds rates at record low’ »