Credit Cards, Cheap Credit Cards, Low rate credit cards UK

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6 Hot Credit Card Sites

Here are this week's top 6 Credit Card Sites in the UK. Check them out and you'll save yourself hours of surfing around.

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Getting best value

THERE is no doubt that the credit card arena is now a buyer's market. Provided you are prepared to do a little homework, cards may be found to meet all financial needs - whether you want to borrow or simply obtain interest-free credit. But once you have the card in your wallet, ensure it continues to offer value for money. If it becomes uncompetitive, move your business to another credit card.

Over recent years the credit card industry has undergone a dramatic transformation. At one time, the market was dominated by mighty banks such as Barclays (Barclaycard) and Lloyds TSB who believed they could charge customers what they pleased. However, now the credit card market has now become fiercely competitive. New credit card operators, mainly from the United States, changed the credit card scene by introducing cards that charge much lower interest rates than the high street banks. The traditional credit cards were then forced to respond and offer customers much better deals.

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The Dos and Don'ts of Credit Card Shopping

•  DON'T regard credit cards as an easy way to borrow. With interest rates many more times the present bank rate they can be expensive.

•  DON'T take out a card simply because it offers an enticingly low introductory interest rate. Assess the card's true competitiveness by comparing the issuer's standard interest charges with those of other providers. If they appear expensive, take your business elsewhere.

•  DON'T opt for a gold card simply because the provider says it represents an important status symbol. Though a gold card will allow you a higher credit limit, enable you to draw more cash out on a daily basis and many provide free insurance, you will pay for all this through higher interest rates.

•  DON'T fall into the inertia trap. Check the interest rate you pay on your card on a regular basis. If it is uncompetitive consider transferring you business to another card issuer.

•  DON'T use a credit card to pay for expensive items such as a new car or furniture when you want to spread payments over a long period. A personal loan is probably better and cheaper.

•  DON'T be enticed by smooth credit card advertising or attractive mail shots that come through your letterbox. Before signing up for a card, check out its competitiveness.

•  DO remember that when you buy with a credit card the card issuer is jointly liable, together with the supplier of the goods or services you buy, if anything is wrong with the goods. This means that you can claim from the credit card company if the supplier cannot or will not compensate you.

•  DO remember that not all credit cards offer interest-free credit. If this is what you want, apply for a card that charges interest only from the statement date and that imposes this interest only if you do not settle the statement in full.

•  DO report the loss of your credit card immediately. Most card issuers operate a 24-hour emergency telephone services to which you can report the loss. Typically, you will have to pay £50 towards the cost of any fraudulent transactions made before you notified the issuer of the loss. Most card issuers offer cheap insurance that protects your card and any others you may hold against loss or fraudulent use.

•  DO take care of your credit card, especially overseas. NEVER disclose your card personal identification number (PIN) to anyone, NEVER discard transaction slips that display your card number and NEVER give your card details over the telephone to a caller you have never spoken to or dealt with before.

•  DO find out what comes with your credit card. It might include useful add-ons such as travel insurance and life cover.

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