A VIDEO GUIDE TO CREDIT CARDS | HOW TO USE A CREDIT CARD TO YOUR ADVANTAGE | HOW TO AVOID PROBLEMS

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hello and welcome to option loans this brief video comes a guide to charge card charge card are among the most flexible types of finance and are utilized by millions of individuals around the world every day every time you utilize a charge card whether you are buying something withdrawing money from an atm or making a payment you are obtaining money from a finance company they are not the exact same as debit cards which are utilized to pay for goods and services by withdrawing cash from your own individual savings account the versatility that charge card provide originated from how you manage your payments a cardholder can select to repay the balance monthly meaning that they will not face any interest charges or they can roll over the balance and make only the minimum payment or a large part of the balance so how precisely do credit cards work when you effectively make an application for a charge card you'' ll have access to a predetermined credit line you'' ll have the ability to use the card at any store merchant or trader which shows the Visa or MasterCard logo you can continue to utilize your card up to your charge card limitation offered that you make at least the minimum monthly payment the flexibility that charge card provide originates from the method that the repayments work a cardholder will usually get a bill and be provided a set amount of time to make a payment which this can be approximately 45 days after the card was utilized if you utilized this to pay back the whole balance of your card then you'' re in effect making the most of a month and a half of interest-free credit this does not consist of money withdrawals made on the card which normally bring in a money advance fee and are not included in any 0% office so why would someone obtain a credit card if you use a debit card a lot you may find that there are more benefits from using a credit card if you are sensible and repay what you owe on it each month not just we get to 45 days of interest totally free credit however in a lot of cases your purchases will be protected under section of 75 of the Consumer Credit Act this stipulates that credit card companies and merchants take joint obligation for 40 per so needs to you pay for something on your credit card valid in between hundred and thirty thousand pounds your purchase will be secured on the occasion that is malfunctioning or if you do not receive the products or services that you'' ve ordered in such cases you may be qualified for a refund from your credit card service provider credit cards can also be a great way to fix your credit rating or build on up if you have not had any form of credit before there are charge card specifically designed to assist individuals with less-than-perfect credit ratings lots of card providers provide an or % transfer offers where you can move an existing balance onto the card and not pay any interest on that balance for the first six or twelve months so you'' re probably wondering what are the downsides it'' s really appealing when you first receive a credit card to think that you'' ve suddenly entered a large quantity of cash and go on a spending binge that you can'' t truly manage this is a proven way to run up a big financial obligation which would be much more difficult to repay and might lead you to monetary problem really rapidly it'' s also very simple to pretend that your card balance doesn'' t really exist and that the card is only costing you the minimum payment every month if you do this then you will wind up paying a huge quantity of interest on your borrowing and you might never ever pay off the balance at all every card company will explain that it'' s much more reasonable to make a big payment than the minimum one required every month this way you are constantly lowering the exceptional balance and pay much less in interest charges most likely not to use your charge card to withdraw money due to the fact that not only will this sustain an advance charge however many providers charge a higher rate of interest for these deals so in conclusion as long as you clear your balance monthly a charge card can be a low-cost and versatile way of obtaining money in the short-term credit cards can likewise secure you through the consumer credit act where you can reclaim money from the card service provider for defective purchases as of any form of credit you must ensure that you can stay up to date with the repayments and be able to settle the money you borrow youAs discovered on YouTube – Creative Commons License

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License: Creative Commons