There are an estimated thirty million people in the
UK who have a credit card, and this figure is set to increase. Credit
cards are big business, and there are a host of credit card companies
who are in the market, competing with each other for your custom –
this is good new for the credit card user, as it means lower interest
rates on your purchases.
Credit card companies often issue cards on a no monthly fee basis, meaning
that your credit card will not cost you a penny except for the balance
interest charges. Some card companies will set a minimum spend level which
you must meet or exceed in order to not be faced with a set charge, whilst
others will not place any such restrictions on your card. See our list
of card companies to help you to find the best credit card for your
needs.
With no monthly fee for the provision of a credit card, you may wonder
how a credit card company earns money – they do so by charging you
interest on the outstanding balance on your card. The good news about
this is that interest is charged on the outstanding balance, meaning that
if you pay the amount when you receive your bill from the card company
you won’t be charged any interest – in this way you can benefit
from the security and convenience of a credit card without it costing
you anything at all.
There is a bewildering array of credit card companies and credit cards
on the market, and finding the best one for your situation can be difficult
– let us help you along the way by starting your search with our
recommended
credit cards.
Loans UK is a specialist loans site, providing a useful resource for anyone interested in obtaining finance for any purpose.
.gif
)
.gif)
