Low Interest Credit Cards

New research has suggested that Brits are not planning to pay back the debt on their credit cards for another six months.

Financial advice website moneysupermarket.com has warned that major credit card issuers such as HSBC, Natwest and Lloyds TSB will be hiking the rates on their products in the near future.

Despite this news, research from the site has shown that nearly one-third of plastic users plan to delay making repayments for the next six months, risking having to shell out for the increased credit card charges.

This figure is as high as 38 per cent for the 20 to 29 age group, for which only 26 per cent pay off their credit card balance in full each month.

While consumers are planning to remain in debt to the credit card issuers over the Christmas period, moneysupermarket.com also found that several popular items for presents will become much pricier if outstanding payments for purchases are not made.

The Nintendo Wii console and Wii Fit game retail at £219.99, but could end up costing £240.56 if debts are not cleared until 12 months after the transaction.

Peter Harrison, credit cards expert at moneysupermarket.com, said: “People must be extremely careful about carrying debt on credit cards for long periods of time – you don’t want to be paying for this year’s presents when the Christmas decorations are rolled out again next year; particularly as rates could be at new dizzy heights.”

Previous research by the website showed that 17 per cent of British people plan to use balance transfer credit cards to fund presents, food and drink for the festive period.

It advised taking out a zero per cent credit card in order to keep the costs of Christmas down.

By Kevin Shield

The Federal Reserve did something very interesting recently. They conducted a poll of banks in the U.S. to specifically ask them how the new Credit Card Reform Act would affect the way they do business going forward for both new and existing customers.

In many cases the answers were predictable, while in a few instances they were somewhat surprising. Right of the bat, and we’ve seen this already from many issuers, they stated that they would raise interest rates, reduce credit limits and tighten requirements for approvals on new accounts.

It’s no secret that banks and credit card issuers are scrambling to find new ways to generate profits. The credit card business once was a cash cow sent from heaven for these companies. Oh how times have changed.

We now find ourselves with unemployment in the double digits for the first time in 26 years – 10.2% nationally as of last weeks jobs report. Unemployment and credit cards are like oil and water. When

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GREAT MONEY CLIP THAT ALSO HOLDS CREDIT CARDS

… Buy COACH MAN BLACK LEATHER MONEY CLIP CREDIT CARD CASE

Is the Shell credit card really the best way to combat high gas prices? Check out our review before you apply.

As fuel prices have climbed the last few years, we’ve been forced to come up with all sorts of creative ways to save on gas: switching to more fuel efficient cars… carpooling… public transit… and of course those gas credit cards.

Nowadays it seems as every gas station has their own branded card, including Shell. To get you to sign up, they all use the same pitch: “our card will save you money!” But the reality is that most of them hide behind promotional gimmicks and other confusing reward structures that won’t save you anything above average when all is said or done.

Let’s take a look at the Shell credit cards and compare them to what’s out there…

Shell Card
This is their basic card. Because it’s not af

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Good news to American Express Card cardmember, now your American Express card can become cash back credit card as simply charge all your spending to American Express Cards at these selected malls and enjoy 15% cash back!

Promotion is valid from 1 November 2009 to 28 February 2010 at all American Express Card accepting merchants in the selected malls, except supermarkets, hypermarkets, hotels and their F&B and retail outlets.

Applicable for all American Express Cards issued by Maybank and Maybank Islamic.

American Express Corporate Cards, American Express charge or credit card not issued by Maybank and Maybank Islamic in Malaysia or American Express cardmember who is default of facilities granted by Maybank at any time during the campaign period or American Express corporate card cardmember are not eligible for this 15% cash back campaign.

Bangsar Shopping Centre Bangsar Village & Bangsar Village II IKANO Power Centre Mid Valley Mega Mall 1 Utama Shopping Centre Pavilion Kuala Lumpur Starhill Gallery Sunway Pyramid Suria KLCC the Curve The Gardens Mall Tropicana City Mall

All transaction must be made at participating merchants that accept American Express Card.

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