Cashback Credit Cards - Top Tips for Finding the Right One

Cashback and reward credit cards are rapidly gaining popularity here in the UK. Imagine being paid to spend money. That's the idea behind one of these. As credit cards have gained wider and wider acceptance, card issuers are working hard to convince you that theirs is the best you can carry in your wallet. If you're in the market for a cashback card, here are some tips to help you compare and choose the best one for you.

1. Choose a card that pays you for purchases you'd normally make anyway. The most valuable offers are those that give you cash on ALL of your purchases, no matter where you make them.
2. The highest percentage of cashback isn't always the best deal. Some cards offer you up to 5%, but only on certain purchases, or particular merchants. If those aren't purchases that you'd normally make then it's really not saving you money.
3. Choose the card that works best for you. All cashback cards are not created equal. Some give you immediate discounts on you purchases, some reduce your account balance by the amount you earn and some send you cheques or gift cards periodically. Pick a card that rewards you the way you like best.
4. If you like having a bonus cheque to spend, choose a card that pays out semi-annual or annual dividends. Depending on your spending habits, you can end up with a pretty nest egg to do your Christmas shopping.
5. A petrol cashback card can pay off every time you fill your tank by discounting every litre of petrol that you buy. In addition, many also give you cash back on any purchase made at a petrol station or convenience.
6. Cashback options that pay you for every pence you spend generally have lower percentage points (.5% is common), but can add up to considerably more cash back for you over the long run if you don't typically patronise a select group of merchants.
7. If you DO tend to frequent particular merchants, you may find an option that rewards you for shopping at those merchants.
8. Do compare rel="nofollow" airaid.co.uk/cashback-credit-cardcashback credit cards at comparison websites to be sure you're getting the best APR and rewards you can qualify for. Especially if you tend to carry a balance on your accounts, you may find that interest charges eat up all that lovely cash back.
9. Be wary of 'shoppers clubs' masquerading as credit cards. These are not the same as cards that offer rewards when you use participating merchants. Instead, these are only valid at a select group of merchants. Not only are you confined to the premium prices charged by the member merchants, but you'll refinancing pay premium interest rates.

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IVA Agreements

IVA is the name given in the United Kingdom to the renegotiation of the terms of a debt. In the United States the name is not used, but the principle is the same. It is an agreement between creditor and debtor for the settling of an outstanding debt in a manner different from the original terms of the loan agreement. This is often times because the debtor has become delinquent and is struggling to pay.

In United Kingdom there are Licensed Insolvency Practitioners who mediate such agreements in a very formal process. The United States does not have such a process. But there are financial advisors, lawyers and debt counselors that act in much the same way.

These agreements are an effort to help both parties, creditor and debtor, reach a compromise. It is an effort to avoid total loss for either party. Though it does not result in the perfect scenario for either, it is of benefit to both. Typically an agreement is reached to restructure the terms for repayment and often the creditor will reduce the debt.

The agreements sometimes lower the interest rate, but not in every case. Each agreement is different.

The debtor is benefited because he now has terms to pay back the debt that he can manage. Also, he no longer has the fear of legal action being taken to collect the debt, wages garnished or foreclosure on his home. This gives of measure of peace of mind to the debtor.

There are benefits for the creditor also. Even though the original amount of the debt is reduced, normally payments are spread out over a longer period of time. That means that even if the interest rate is lowered over time the lender will be paid back more money than under the original agreement. At times creditors agree to accept 25 to 50 percent less than the original amount of the debt.

This may seem like a huge loss for the creditor. However, if the debtor really cannot pay under the original terms, and the creditor has the choice of taking less or getting nothing if the debtor is forced into bankruptcy, it is a the better alternative. Washington Lemon Laws it can help the creditor avoid taking expensive legal action against the debtor.

Besides having lower monthly payments and lower interest charges, the greatest benefit for the debtor is staying out of bankruptcy. Bankruptcy puts a horrible black mark on your credit for years and should be avoided if at all possible.

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