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Moneyfacts Weekly Product News – 22.07.21

Eleanor Williams

Finance Expert & Press Officer
Published: 22/07/2021

The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market. 

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Moneyfacts Weekly Product News – 15.07.21

The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.

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What to consider when comparing 0% balance credit card deals

When comparing 0% balance transfer credit cards many borrowers focus on how many interest-free months are being offered. This introductory interest-free term is important as it is the period that borrowers have to repay the debt before interest is added to the outstanding balance. As such, it makes sense for borrowers to choose with a card with a long interest-free term as this will likely make repaying the debt within this period more manageable. Saying this, if borrowers just focus on this aspect of the card they could find that transferring their credit card debt could be more expensive and instead they should consider the total cost of borrowing.

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Five reasons not to panic about your credit score

Being aware of credit scores can be a good way of assessing the likelihood of being accepted for a loan, credit card or mortgage, but consumers who see small sudden falls in their score should not let it deter them from applying for credit. Instead, it is important to understand how lenders view credit scores, other factors they consider when lending money and why it is important not to panic if the credit score falls unexpectedly.

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The best reward credit cards – June 2021

The easing of lockdown has resulted in an increase in spending as consumers are able to once again socialise and travel within the UK. For those able to repay their balance in full each month, now could be a good time to use a rewards credit card to enable them to earn rewards while also enjoying the regained freedoms.

Many reward credit cards allow shoppers to earn cashback, reward points or other benefits simply by spending on the card. They work in the same way as other types of credit cards, but borrowers will likely need a good credit score to be accepted for these types of cards. Another factor to keep in mind when looking at reward credit cards is that some charge a monthly or annual fee, but there are some highly competitive deals on many cards without a fee.

Although a rewards credit card can be a good way of earning benefits while spending, these types of credit cards can have a high APR, which means that they are not suitable for those who are unable to repay the balance in full each month. Instead, borrowers who may struggle to repay their balance in full may want to consider a 0% purchase credit card, alternatively, those who already have an outstanding credit card balance may want to consider transferring the balance to a 0% balance transfer card.

To help make it easier to choose the best rewards credit cards, below we have highlighted some of the best deals currently available on the market.

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Recent News

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How to get a credit card quickly

18th June 2021

Whether looking to clear debts by moving outstanding credit card balances to a 0% balance card or looking to make a large purchase using a 0% purchase card, there are many reasons why a credit card will need to be received quickly

Whether looking to clear debts by moving outstanding credit card balances to a 0% balance card or looking to make a large purchase using a 0% purchase card

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Cost of borrowing falls year-on-year

15th June 2021

The cost of taking out a personal loan has fallen year-on-year as lenders have cut the interest rates on loans

The cost of taking out a personal loan has fallen year-on-year as lenders have cut the interest rates on loans

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Moneyfacts Weekly Product News – 10.06.21

10th June 2021

The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market

The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market

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Moneyfacts Weekly Product News – 02.06.21

3rd June 2021

The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market

The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market

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Most Popular Credit Card News

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Moneyfacts Weekly Product News – 22.07.21

22nd July 2021

The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market

The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market

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Moneyfacts Weekly Product News – 15.07.21

15th July 2021

The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market

The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market

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The best reward credit cards – June 2021

23rd June 2021

The easing of lockdown has resulted in an increase in spending as consumers are able to once again socialise and travel within the UK

The easing of lockdown has resulted in an increase in spending as consumers are able to once again socialise and travel within the UK

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What to consider when comparing 0% balance credit card deals

8th July 2021

When comparing 0% balance transfer credit cards many borrowers focus on how many interest-free months are being offered

When comparing 0% balance transfer credit cards many borrowers focus on how many interest-free months are being offered

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