Five credit improving deals

Consider these credit deals and help improve your overall financial outlook while taking advantage of great finance offers.

10:22 07 December 2013

Credit, it is the staple of our economic stability. We purchase our houses with it, our cars; pay our daily living expenses with it. It is important to make sure that you can make the most of this essential economic element.

Here are a few ways you can make the most of this financial staple.

1.    Pay no interest. You see this everywhere. You see it in stores, card offers, furniture stores, and car dealerships. Essentially, this deal comes in two forms.

• 0% financing – You can find this just about anywhere, on cards to furniture. It provides you with a grace period where interest is not calculated. If you pay off the bill by the time the interest free period ends, you do not have to pay interest.

 

• Deferred payment – this is not the same as 0% financing since this type of payment does not even show up on your account until the deferment period is over.     

2.    Peer to Peer Lending - The internet has become a great place to find the help you need with your credit. You can post a request for funds and find those who are willing  to lend.
The interest rate is only 4.8% (representative rate).

3.     Bonus offers – Bonus offers are deals that you can obtain by switching to a particular bank or service. There may be other qualification terms. The bonus amount ranges but is generally around £100.

4.     Current accounts – Current accounts can earn a rate of 5% interest instead of the average of less than 1% on savings accounts. In addition, you can enjoy virtually no limits for withdrawal of money.

5.    Cash back offers – Look into cash back offers. They can be a great use of your credit. You can purchase what you need at supermarkets, department stores and petrol stations and earn points towards other items or even receive cash for your purchases. This is generally set at around 1% to 3%.