Are credit cards really the best solution in an economy ravaged by debt? That’s a good question and while credit cards might not be suitable for everybody and in every instance there is still a place for them, even in this post-recession, fragile economic state the UK has found itself in.
What benefits are there to having a credit card?
Get stuck in and read our top reasons to own a credit card, other than to lend you money… you may be surprised in what you learn.
1. Credit cards, when used sensibly, can help to repair a damaged credit rating. Even if you get a high-interest credit card, when used in moderation and, as long as you pay off debts monthly, you could see your credit rating sky-rocket!
2. Using balance transfers to pay off other debts could benefit you as, usually, it proves cheaper to pay off debt on a credit card as interest rates tend to be lower.
3. Use credit cards to help spread the costs – especially if you need to buy expensive goods or services but can’t pay-off in one go.
4. Earn cashback with credit cards, as long as you pay off credit card debts on a monthly basis.
5. Get exclusive discounts on certain goods or services with a credit card – many cards offer this service and certainly worth shopping around for to make sure you get the best credit card to suit you.
Whilst all of these are valid reasons to own a credit card Creditwindow understands that not everyone has a great credit score and it can prove difficult to obtain the one you want. As a result we have included a great list of both premium rate and poor credit score cards – check them out and find a credit card to suit your needs.