Credit cards are an important financial tool and as long as you use them correctly, they can have many benefits and help you manage your financial affairs. But with so many different types of card on the market, with all sorts of interest rates and special offers available, it can often be confusing and hard to know which one would be best for you.
This is why Virgin Money aims to break everything down so it’s really clear and you can tell at a glance the different types of card available and the benefits you can get by using them. Read on to find out more about some of the most popular consumer credit cards around.
Credit Card
Not all credit cards have fancy names and this is one of them, because its reputation and benefits speak for themselves. It’s simply a plain-speaking card that gets the job done. If you are after a credit card with a competitive APR and maximum control over your account, then this is a great option for you.
If you take out this card, you will benefit from an interest free transfer period as well as interest free purchases for the first few months. Credit cards with 0% interest are sought after as they can help you make the most of your credit and make the transition from one card to another as smooth as possible.
You’ll also benefit from the way your balance is paid off: if you pay off the minimum amount every month, then the money goes first towards those items with higher rate interest, meaning that you pay less interest on your purchases overall. Plus, if you pay your balance in full every month, you won’t pay interest at all.
Charity Card
The charity card is a fantastic option for people looking to give something back while getting a great financial deal at the same time. For every purchase you make with the charity credit card, you’ll get cash back that automatically goes to a charity of your choice. If you choose to Gift Aid the cash back, the charity will get even more money, meaning they’ll be able to do even more good work thanks to you. This card is ideal for busy people who want to give something back but don’t necessarily have a whole lot of time to give: donating as you shop is a brilliant alternative.
You can manage your Giving account online, meaning you have excellent control over what happens to your charity donations. You’ll also benefit from a competitive APR, making this one little piece of plastic that certainly works hard for you.
Air Miles Card
Everyone likes a foreign holiday every now and then, don’t they? If you’re looking for a way to get a brilliant deal on your next holiday, then you could benefit from the air miles credit card. This gives you a generous allowance of Flying Club miles when you first use the card and you can earn more as you spend, making it a great way to help you offset the cost of flying. You’ll also benefit from an initial interest free transfer period. This makes it a great option for anyone looking for 0% credit cards and extra incentives to go with it.
Pre-Paid Cards
Of course, not everyone wants to use a credit card all the time and would like to know exactly how much they have to spend without needing to check their statement. This is why Virgin Money has introduced the pre-paid card. One of the main benefits of this is that there are no credit checks involved and you don’t even need a bank account. This card is a great alternative to carrying cash: it’s secure and can really help you to budget your money. The choice of ‘pay as you go’ or ‘pay monthly’ tariffs make it ideal for people looking for maximum control over their disposable income.
These are just some of the great credit card offers and deals you can find today. When you’re looking for your perfect credit card, it’s always a good idea to consider exactly what you want first. Ask yourself if you can afford the APR and what benefits would work best for you – are you looking for product discounts and value added extras, or would you rather focus on getting the best interest rate? Is your credit rating good enough for a certain card? Answer these questions honestly, do your research and you’ll be well on your way to credit card satisfaction.