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Top tips for choosing credit cardsBalance transfers – avoid paying interest by switching credit card providers before the introductory low or 0% interest rate runs out. Interest rates – be careful as some offers only relate to balance transfers and not new purchases. Ideally you want a good introductory rate and a competitive ongoing rate. When comparing interest rates always use the APR (Annual Percentage Rate) because this allows you to make like-for-like comparisons. By law, companies have to publish their APR. Annual Fees – never choose a credit card that charges an annual fee – most of the newer, more competitive cards don't charge them. Cash withdrawals – most credit card companies charge around 2% a month for drawing out cash using a credit card, representing poor value for money. Using your credit card abroad – credit cards are very handy to use abroad however there will be charges and catches similar to those that apply when withdrawing cash, so be sure to check out the small print, and your alternatives, in advance. Loyalty schemes – these kinds of credit cards are only really worth it if you use your credit card on a regular basis, otherwise the benefits of extra points or cash back will be marginal. Insurance – this can be a useful benefit and many major credit card companies offer free insurance on any goods over a certain amount bought using their card. You can also get free travel insurance with some credit cards. Did you know?
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Bad Credit history?Don’t let a bad credit history stop you from getting a credit card. If you have any of these problems you will still be able to get a credit card:
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