By June 10, 2013 Read More →

Test Post for Credit Cards

This is just a quick test post in the general Credit Cards section

Credit cards can be a quick and easy way to borrow money to pay for things. Let’s say you are window shopping and spot a must-have pair of shoes. You have no cash to hand, but it doesn’t matter. You can simply pay with a credit card. Or maybe you need a new dishwasher or washing machine, but it’s still a long way to pay day. Don’t worry! You can put the purchase on a credit card.

There’s another advantage to credit cards. If you buy something that costs between £100 and £60,260 with a credit card and it turns out to be faulty or the company goes bust, you can get your money back from the card issuer.

Penalty charges

Of course, there are downsides to credit cards. If you don’t pay your monthly bill in full, you could start to rack up hefty interest charges. There are also penalty fees for late or missed payments. But if you play your credit cards right, they can be a great way to manage your money, particularly if you regularly shop online.

Borrow money for free

A credit card is not the same as a debit card. When you pay for something with your credit card, you are essentially borrowing money – and credit cards charge interest on the loan. However, most cards come with an interest-free period of up to 59 days, so if you pay off your bill in full each month, you pay no interest. In other words, you can borrow money for free.

Posted in: Credit Cards

About the Author:

Our in house editor who has many years financial services experience, and writes most of the journal entries you read on this site.

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