Attractive Credit Card Deals Could Tempt Consumers Away from Loans
With personal loan rates at their highest since 2000, leading credit card comparison website www.compareprepaid.co.uk urges consumers to take advantage of some great credit card deals and extended balance transfer rates in order to save money.
According to money website Moneyfacts, the average rate on a £5,000 loan stands at 12.7 percent, 12.7%, compared to a low rate of just 7.8% in 2006.
Raffick Marday from the UK's leading website for prepaid credit cards explains;
“Loan rates are exceptionally high at the moment. The economy is stalling and the banks as a result see lending money to individuals as particularly risky at the moment. But anyone looking for a relatively small loan could do better by considering alternatives such as the current batch of credit card offers on the market.
“There are many credit card offers on the market with 0 percent interest on balance transfers and purchases for an introductory period. The Natwest Classic Credit Card offers 13 months interest free on purchases and balance transfers, so you have over a year to pay off the money you borrow without earning any interest.
“If you have not managed to clear your balance after this period, or have an outstanding balance elsewhere, Barclaycard offer a record 20 months interest free period on balance transfers on their Barclaycard Platinum Credit Card.
“This offer also enables customers to get £10 off the balance transfer fee if they transfer more than £2,500. On purchases there is a 0 percent interest period for three months from account opening, and a 3.2 percent handling fee.
“These are just some of the great deals available at the moment in the credit card market and we urge consumers to shop around and compare credit card prices and deals before making a purchase. Visit our website for a full comprehensive list now.”
To Compare Credit Cards visit: www.compareprepaid.co.uk
Notes:
Raffick Marday is available for interview. Please contact Dale Lovell on 01753 859 588 or email: dlovell@searchnewsmedia.co.uk to arrange an interview.
Compare Prepaid is the leading comparison site which provides information, reviews and news on prepaid cards, credit cards and bank accounts available in the UK. Visit: www.compareprepaid.co.uk for more information.
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