Hear ye all students! Use your student loan wisely. Try reigning in your spending and get a part-time job. Look for interest-free overdrafts and borrow from your parents. This is the Foolish way. If, however, you have absolutely no alternative but to get a credit card, you’ll need to understand which is the best for your needs. Don’t just go to your bank, as they probably won’t have the right deal for you. You should compare credit cards, or, as we more truthfully prefer to call them, debt cards. Here are some ideas:
Tag: Banks
Motley Fool: Get Ready For The Banking Wars!
Last week, in Bad News On Overdrafts, I revealed that three banks (Lloyds TSB, NatWest and Smile) increased their overdraft interest rates from 1 September by as much as 2.5% a year.
MoneyExpert: Credit Card Companies Slash Fees
The banking industry has formally agreed to Office of Fair Trading (OFT) demands that it slash the penalty fees applied to credit cards, the majority of them by a half.
MoneyExpert: MPC Decides Against Further Rate Surprises
Interest rates will remain at 4.75 per cent for at least another month, the Bank of England’s Monetary Policy Committee (lowercase – DN style) (MPC) has announced.
Motley Fool: Earn Thousands From Your Bank
A relative of mine switched current accounts recently. He neglected to consult me, and got an account paying 4.25% interest. I thought: “Hmm, that could be worse.” Then he told me it was the Nationwide Flexaccount. I hadn’t heard of it, which was not a good sign, as I work for a website with the slogan: Independent Financial Comparison. It turns out that the sneaky devils only pay 4.25% on the first £3,000, but just 0.25% on any higher balances. As he has £50,000 in his current account, that means he’ll earn £196 interest after tax this year, when he should earn thousands!
MoneyExpert: RBS And NatWest Halt Credit Card Cheques
The Royal Bank of Scotland (RBS) has announced that it is to abandon credit card cheques following a public and political outcry over the ways in which they are marketed.
Motley Fool: Curb The Cost Of Motoring
According to a new report from Sainsbury’s Bank, the cost of motoring has risen by around a fourteenth (7.2%) in the past twelve months. For the record, here’s a breakdown of what a typical driver will spend on motoring this year:
Motley Fool: Bad News On Overdrafts!
I have some bad news for people who have current accounts with Lloyds TSB, NatWest and Smile (a division of Co-operative Bank): your overdrafts have just become more expensive!
Motley Fool: Ten Tricks To Boost Your Savings
We Brits have become enthusiastic borrowers in recent years. Indeed, our personal debt (including mortgages) has grown by 9% a year over the last thirteen years. Alas, we haven’t done quite so well when it comes to saving. According to the Bank of England, since the end of 1997, our savings have increased by an average of 7.5% a year.
Motley Fool: How, When And Where To Invest
Many people are scared of investing. They prefer the safety of leaving their cash in a bank or building society. While it’s true you won’t see the value of your savings lurch up and down on a daily basis, we’re going to show why failing to invest can cost you money in the long term. And we’re not talking about a few pence, we’re talking about thousands and thousands of pounds!