Credit Cards Articles

Shoppers with Virgin Money credit cards could save hundreds of pounds in interest because the firm has become the latest to change its system, so expensive debt is automatically paid off first.

The move comes into force for the firm’s 2.5m customers on September 1, four months earlier than required under new rules announced by the Government and the UK credit card industry last March.

Previously, when customers made a repayment this would go towards paying off their cheapest debts.

Typically, this means 0% purchase and balance transfer deals are cleared first, followed by purchases and cash withdrawals.

Read more…

Overview

Teenagers and American Express. Not two words you typically expect to go together. Until now. The new reloadable pre-paid debit card from American Express, called PASS, is available in bright colors, with the potential to upload a photo onto the card, and is targeted at teens and young adults.

But American Express does not call PASS a debit card — and it really isn’t. This card has several advantages over many prepaid debit cards, which we’ll explore later in the article. Instead, the PASS card is more like a hybrid between a prepaid debit card and an American Express charge card.

It’s a brilliant marketing move on the part of Amex — to begin building brand loyalty at a young age. I’d recom

Read more…

While we have heard and read of all the changes with the implementation of the CARD Act, there are still millions of people that may not know how they will personally be affected. If you are one, fear not; there is information available that can help you get a complete understanding of the new law and your plastic.

Bankrate.com has recently released their 2010 Credit Card Guide to help current and future cardholders gain valuable information when it comes to their credit cards. It also offers useful information on the two features that are drawing the attention of millions of cardholders, which are balance transfers and reward programs.

Read more…

If you carry a balance on your credit card from month to month and are looking for a way to save money on interest payments, you might be interested in balance transfer credit cards. The idea is simple enough. You get an introductory offer with low interest on balance transfers, and that gives you time to pay down your balance while saving money on interest. How can you find the best balance transfer credit card for your needs though?

Here are several factors you should consider when comparing balance transfer cards:

1. Balance Transfer Rates

The balance transfer rate (usually a temporary introductory offer) can be a lower rate than you’re paying now, or even 0% interest. N

Read more…