How Are Interest Rates Set?

Interest rates affect all of us, whether we borrow money from a bank, carry a balance on a credit card, or have a savings account. When we borrow money, we pay interest on our repayments, calculated as a percentage of the total amount we owe. […]

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Credit Card Charges Explained

If you miss a payment for your credit card, or carry out international transactions or even simply withdraw funds from the card at an ATM, the results are very costly as charges begin to apply. Charges will also apply if you go over credit card […]

What’s The Difference Between A Credit And Debit Card?

One of the best ways of purchasing different services and products you need on a daily basis is a credit card or debit card. Both credit and debit card are the same in that regard considering they help you purchase the different items you require. […]

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What Is An Early Redemption Penalty or Charge?

Early Repayment Penalty also refers to Early Repayment Charge (ERC) and indicates a fee you might be required by a lender in case you paid off your mortgage or loan prior to the credit facility’s scheduled term. A redemption penalty is usually equal to one […]

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How To Improve Your Chances Of Getting A Loan If You Have A Low Credit Score

According to This Is Money, approximately 30% of people in the UK are at risk of not getting the best deals when it comes to loans because of their credit rating. The lower your credit rating, the lower your chances of being approved. Thankfully, there […]

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Does A Payday Loan Negatively Affect Your Credit Score?

Every type of lending or financial product can have a negative impact on your credit score if they are not managed properly, and payday loans are no different. Payday loans are a form of short-term finance that is designed to bridge the gap between paydays […]

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Section 75: What You Need To Know About The Consumer Credit Act

Have you ever purchased a product and discovered it’s faulty? Or booked a holiday only for the hotel to go bust? If you used a credit card to pay for these transactions, then you have the right to a refund even if the retailer declines, […]

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What Is A Continuous Payment Authority?

Recurring payments – continuous payment authorities – are regular outgoings that leave your financial accounts in the same way that a direct debit would work. While they look like direct debits, they definitely aren’t. Continuous payment authorities (CPA) allow companies and external money providers to […]

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What Happens When You Are Made Bankrupt?

Declaring bankruptcy is a way for you to become debt free when you can’t pay your creditors. It’s a big decision, one that can have long-term effects on your daily life and may not be right for everyone. What You Need To Know About Declaring […]

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What Do APR And APRC Mean?

If you’re thinking of taking out a loan, mortgage or applying for a credit card, you’ll probably encounter the terms APR and APRC. Both relate to the interest you will end up paying, and it’s essential you understand what they mean, why they are used […]

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Mortgage Market Review (MMR) Explained

After the 2008 credit crunch and the financial crash that followed, the UK government carried out a thorough review of the mortgage market, implementing changes that came into force in 2014. These changes were the result of the conclusion drawn by the government that mortgages […]

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Loan Sharks – What Are They And How To Avoid Them?

Finding the money to deal with unexpected costs in a time where peoples’ financial situations are at their worst is tough. Often, people will undertake desperate measures to make sure that they don’t go without. More and more people are opening themselves up to the […]

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How To Deal With Creditors

If you’ve fallen behind with your payments, you can directly arrange repayments with creditors. Firstly, you will need to work out an achievable and realistic personal budget. Then you will have an idea of the amount you can pay towards your debts, after paying your […]

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7 Ways To Fix A Low Credit Score

If you’re planning on applying for a loan, mortgage, or credit card, your credit score will have an impact. It will determine whether you are approved and the interest rate you’ll have to pay. The lower your score, the less likely a lender is to […]

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Free Credit Report? Top 3 Places to Get Your Free Credit Score

Whether you are planning on applying for credit or just like to keep track of your finances and credit score, getting a free credit report is often a good idea. There are hundreds of websites out there offering credit reports and other services and knowing […]

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How To Get A Loan After Being Refused Credit

Being turned down for credit can leave you wondering where to turn to next. If you are in a situation where you need to borrow some money, getting refused credit can be very frustrating, and leave you feeling as though you are out of options. […]

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What Negatively Affects Your Credit Rating?

Your credit rating is a number that lenders will use to decide how risky you are to lend money to. Whenever you apply for a credit card, loan or another type of finance agreement, the lending company will run a credit check on you before […]

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8 Easy Ways To Improve Your Credit Rating

Credit ratings are often misunderstood and a mystery to most individuals, and when you have a bad credit rating it can be both stressful and costly. Having a healthy credit score can open up a range of financial options when you do need to obtain […]

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How To Borrow Money Without A Credit Check?

If you have a poor credit rating and are unable to resolve it quickly, it can feel like you have no options when it comes to borrowing money. It is possible to get some forms of finance without the lender having to run a full […]

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What Is The Consumer Credit Act?

Every time a new loan, credit card or finance product is arranged, it is covered by the Consumer Credit Act 1974. The Consumer Credit Act was explicitly designed to give consumers some protection when they take out financial products such as loan agreements and credit […]

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