Compare Credit Cards
Posted January 27th, 2009 Like most people, your mailbox is probably inundated with credit card offers. You see them on television, hear about them on the radio and notice them plastered on billboards all over the city. So which one should you get?
It’s important to compare credit cards and see what each one offers. There are several places on the internet that allow you to compare cards side by side, much easier than gathering all the material you’ve been mailed and trying to see the differences!
Some cards appear to have very few differences from each other but have varying terms and conditions. Others offer cash back rewards but one may give you just one percent back while another gives you three percent. These small differences can add up to a lot of money!
You should also look at cards with different types of rewards. If you travel a lot you should probably consider a card with an airline mileage reward program. Other cards might offer a points system that you can convert into gift cards after accumulating enough. Sometimes these points systems are more profitable than the cash back awards!
When you compare credit cards you can also see some of the other advantages they may have. Some cards will give you free trip insurance when you travel or insure any rental car you might need. This is a very useful benefit if you like to travel. There are several extra features you can choose between when you compare credit cards.
Probably the most important thing to look for when comparing credit cards is the interest rate. If you have a good credit score you’ll be able to get a more advantageous interest rate but if you have a poor credit history you will likely have to settle for a fairly high rate of interest. A point or two may not seem like much but if you plan to carry a monthly balance it can be very important. If you carry a balance of $2,000 for a year and pay 18% interest, you’re giving the credit card company $328.76 for the privilege of owing them money! That same debt load at 15% interest is only $269.88, quite a difference for just a few points. So when you compare credit cards, pay close attention to the interest rate you’ll be charged.
Credit card issuers also offer incentives for choosing their card over all the others. Those with points rewards will sometimes offer a one time award of several thousand points just for signing up for the card. There are also credit cards centered on particular companies that let you apply your reward points to a gift certificate from that company. An Avon Visa credit card, for example, lets you get a percentage of your purchases back as an Avon gift certificate.
Whatever credit card you choose, be sure you read and understand all the terms and conditions so that you can get the maximum benefit of using that card.
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Comparison of Top 10 Credit Card Offers
| Credit Card | Card Details | Interest Rate | Cash Advance Rate | Balance Transfer Rate | Annual fee | Interest free days | ||
|---|---|---|---|---|---|---|---|---|
 Halifax All in One Credit Card |
The Halifax All in One credit card offers a great introductory rate, and is perfect for saving you money now as well as in the future. | 15.9% APR | 27.95% p.a. (variable) | 0% for 9 months | No Annual Fee | 59 Days interest free |
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 Virgin Credit Card |
As well as a great rate, the Virgin Credit Card comes with:
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16.6% APR (variable) | 27.9% p.a. (variable) | 0% for 16 Months (2.98% fee on balance transfers) | No Annual Fee | 50 days on card purchases |
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 Capital One Classic Visa |
This card is designed for people with bad credit ratings, this is why the rate is quite high. |
Typical 34.9% APR variable | 34.9% APR | 34.9% APR | No Annual Fee | 56 days for purchases. 0 days for balance transfers and cash. |
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As well as earning Flying Club miles which you can spend on brilliant rewards like flights, upgrades, car hire and more, a Virgin Atlantic Credit Card gives you up to 46 days interest free on card purchases. |
17.9% APR typical rate | 20.9% p.a. (variable) | 0% for 6 months (2% handling fee) | No Annual Fee | Up to 46 days on card purchases only. |
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The Virgin Prepaid MasterCard from Virgin Money is a prepaid Mastercard that you can add funds to, and use these funds for normal purchases. |
N/A | N/A | N/A | N/A | N/A |
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5% cashback on purchases in your first three months (up to £4,000 of spend). Thereafter, earn 0.5% on the first £3,500, 1% on £3,501 to £10,000, and 1.5% after £10,001. |
18.9% p.a. | 27.9% p.a. | 18.9% p.a | No Annual Fee | 56 days for purchases. 0 days for balance transfers and cash. |
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Vanquis Visa Card is designed for people with no credit history or who have previously had bad debt. Representative 39.9% APR (variable) |
Representative 39.9% APR (variable) | 39.9% | N/A | No Annual Fee | Up to 56 days on card purchases only |
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The award winning prepaid card with no credit check or bank account needed. | Funds in your Account will not earn interest | Prepaid only - N/A | Prepaid only - N/A | £59.40 p.a. (£4.95/month) | Prepaid only - N/A |
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