This reward system allows you to accumulate cash onto your card as a credit and then redeem your spending rewards at any shop that participates.  It is pretty much a guarantee that all major stores will be participating in the scheme in the near future, much the same as the way contactless technology has been introduced.  Barlclaycard were also among the first to use contactless technology too, so it’s clear to see that this major credit card company is ready for the next step on the evolutionary credit card ladder, even before the world is.

Watch out for the Barclaycard Freedom reward system on your Barclaycard in the near future.  And if you’re about to apply for a credit card then Barclaycard is definately one that you need to put on your list; granted, you need a huge income for one of these cards, but if you’ve got it then use it folks, the rewards speak for themselves.

It’s really a market for the 0% balance transfer crowds.  If you’re looking to transfer a balance then you’ll get a pretty good deal without a shadow of a doubt.  But if you need to get your first cridt card then you’re likely to struggle making your decision.  Cridt cards often offer the same sort of things so it’s important to look very carefully at them before you make a decision.  You will usually get the following when you’re looking for your first card:

• 16-18% APR
• 0% interest on purchases for up to 3 months
• Rewards

The last one is the one you want to look at really, and if you’re a new customer and you’ve never owned a cridt card then you’re likely to be able to take your pick of the reward cards that suit you the best.  There really is no need to go for the first cridt card that accepts you either.  In this day and age they want anyone they can get so you stand a good chance of getting the one you want; particularly if your credit score is clean.

Anyway, with all this pressure upon their shoulders they’re going to need to relax aren’t they?  Of course they are, and they are also going to want to live as comfortably as possible in their circumstances, so they need a good tolerant credit card.  Is there such a thing out there?

If you look at my previous post about college credit cards then you’ll get a basic idea about what a student card should be offering and what to look for.  We think that the following card ticks most of the boxes, but see what you think.  The following credit card has been chosen because we think that it’s likley that a student will be able to get one when they apply:

Natwest Student Card

• no offers on balance transfers
• no offers on purchases
• 18.9% APR
• Discounts on wine and travel

This isn’t a bad credit card considering that there doesn’t seem to be a student credit card out there that will give you 0% on purchases for 3 months at the moment; it’s not surprising though is it?  I wouldn’t want a student to get that far into debt before i scared them with the interest added.

However, the fact remains that students are notoriously bad with money.  I am sure there are a few of you out there that can handle yourself with a bank balance so please don’t all write in at once with your complaints; i am merely going on an average here, and i’m sure you won’t disagree with that!

What a student wants is available credit when it counts.  They need to be able to purchase CDs, DVDs, clothes and other related student stuff, but also they may sometimes need to buy food and perhaps some course related things, like books!  This is basically what they need.

So what do you look for when searching for the best college credit card?

• Low interest rate
• Low credit limit
• Great reward points system with money off where it counts
• Low minimum payments
• 0% interest on purchases for at least the first 3 months.

Now that’s basically what a student needs.  Now you can go away and find a credit card that meets that criteria.  You might struggle with the low interest rate actually, i may have been a little optimistic.  Students often fall victim of high interest rates simply because of their low credit limit and their actual ability to pay it off; i think it’s designed to deter them from spending too much money and failing to pay it back, but i don’t think it works!

So what are you into?  Travelling?  Shopping?  Music?  Whatever you need there is a credit card for you.  The trick is not to go for the first one that accepts you (unless of course you’re really desperate and you can’t find many that will have you), simply because you’re not going to want a card that offers you free airmiles if you don’t go away anywhere are you; i once had a friend who had an airmiles credit card from Amex i think, and he was afraid of flying!

The best thing about getting a reward credit card that’s good for you is that you can practice safe and efficient account management with it and get the full benefits without paying a single penny in interest.  If you ensure that your balance is paid in full at the end of every month then you’ll never have a problem with your credit card.  This is what more and more people are doing these days and there is nothing the credit card companies can do about it except put up their interest rates in the even that some of these people fail to deliver on time; and this inevitably will happen.

The top cards are always changing so this is pretty accurate at the time of publication.  Don’t start complaining to us if the offer isn’t on the website if you’re going to get to it two or three weeks after we’ve published this post:

• Natwest are offering a pretty damn good credit card at the moment and they seem to be ticking the right boxes when it comes to what their customers want.  They are one of the favourites for the balance transfer folks, offering a massive 15 months at 0% interest on all transfers.  However, there is a 2.9% fee to consider before you transfer, so just make sure it’s worth it before you go ahead.  They also offer 3 months interest free on purchases and an overall standard interest rate of 16.9%
• Virgin are offering something pretty similar to the Natwest credit card, only they have their perks in different places.  They only offer 14 months interest free on your balance transfer and their fee for doing this is greater at 2.98%.  They too offer 3 months interest free on purchases (this is no great deal from any company at the moment, most of them doi it).  Virgin’s best factor is that compared with Natwest their interest rate is a little lower at 16.6% and they also offer a reward scheme for loyal customers; this is discounts on Virgin products and services.

I’ll look at a couple and we’ll do a little comparison if you like at the end to make it fun.  What you must remember though about comparing credit cards is that they are all pretty much different from the other (even if only very slightly) and it depends on the individual usuers’ needs as to which one they choose.

The MBNA Platinum Visa

• This is the card to go for if you’re after a balance transfer in order to pay off a debt quicker.  The offer is 5.9% on the transfer until it’s paid off.  This is a pretty sound deal for large balances that you need to keep low interest on.
• Verified by Visa security system.
• 16.9% interest.
• Online banking.
• 24hr worldwide helpline.

The Halifax Easy Rate Credit Card

• This one is for those who just want a low interest rate.  The Halifax offer 6.9% on both balance transfers and purchases.
• No balance transfer fee.
• No interest charged on purchases if balance is paid in full at the end of each month.
• Online account management.
• No annual fee.
• Instant decision.

So with these two cards you get a variety of different options.  I must say though that i am more drawn towards the Halifax for long term sustainable low interest (this is dependent on your financial circumstances however and the interest rate could be higher).  However the 5.9% interest rate from MBNA for the lifetime of the trasferred balance is certainly an attractive way to pay off a bad debt.

So you’ve been a little naughty in the past with credit, loans or mortgage?  Something has not been paid anyway, otherwise you wouldn’t be reading this and you wouldn’t be looking for a bad credit card.  You have perhaps heard that a bad credit card is one of the best ways to improve your credit rating; indeed you can rebuild your credit rating with one.

What you must first understand is that a bad credit card isn’t necessarily here to do you any favours apart from rebuild your credit scoring.   Don’t expect free this and that, airmile bonuses and money off CDs, because you simply won’t get it, and the fact remains that you can’t handle a card like that otherwise you’d already have one.

The main virtue of a bad credit card is that it allows you to be realistic about what you can afford.  Because their interest rates and repayment rules won’t allow you spend more than you actually can, you stand a good chance of being able to repay this credit card, and the best way to do it is to spend only what you can afford each month and pay off your balance at the end of each month.  This will go a long way in rebuilding your credit rating.

When you’ve been in debt and things are going particularly bad for you, there is hope to rebuild your credit rating.  You can simply apply for a bad credit card like Capital One.  Capital One considers many new customers, from bankrupts to those who have CCJs against them; it isn’t the end of the world when you’ve been in debt.  Here’s what Capital One can offer.

Now you needn’t think that everything is rosy though.  Capital One know that you have been in trouble before and they’re not about to give you a shed load of money to play with straight away because the chances are that you have been terrible with money in the past and they are not prepared to take too big a risk.  Interest is charged from the date any item is purchased if you don’t clear your account in full each month, so they are pretty harsh really; although it doesn’t hurt to have a few lessons in paying your bills if you’ve had a past of not being very willing and able to, does it?

The interest rate is also not very favourable from Capital One at a massive 34.9% typical APR!

Families who want to spend a few days at the beach or go on holiday elsewhere can find discounts through the use of their card.  Co-operative Bank is offering discounts to get more consumers to use their cards.  More than that they are also looking to provide discounts families can use.  Already Co-operative Bank has been able to stimulate the economy.  Building material stores have experienced a 27 percent increase in their sales because individuals are using Co-operative credit cards for their purchases and saving money.  It seems during the summer months many are more likely to spend money.  Co-operative feels that by offering discounts they can make it easier for a person to get what they need.  The credit card rates are comparative to others on the market and the fees are about the same.