Credit Cards
One advantage of using a credit card to finance a foreign holiday is that plastic is convenient. Tourists who carry large wads of cash around with them on vacation do so at considerable risk of being robbed. Crime can occur in any place at any time and locals often prey on outsiders. People who keep significant amounts of money in a bag, wallet or pocket are also at risk of simply losing it.

Of course, credit cards are not impervious to such hazards. A stolen credit card is just as much a nightmare as lost money, but credit cards can be cancelled over the phone in a matter of minutes. Credit cards also enable tourists to purchase items and pay for services without worrying about converting currencies or fiddling around with coins and notes they do not recognise.

Credits cards are accepted in most countries – certainly all the major tourist destinations will take MasterCard and Visa. Travellers ought to check the foreign exchange rate and withdrawal fees charged to their cards before setting off on a foreign adventure. Especially exorbitant fees could make some credit cards too expensive an option to consider seriously. Also, credit cards should only ever be used if cardholders are committed to repaying the balance as quickly as possible upon their return to Britain.

Quick Money Transfer
Sometimes credit lines run dry and pockets become empty. Running out of cash on a foreign holiday can be more than inconvenient, which is why contingency measures should be in place to help out in a crisis. The quick money transfer is one option that all travellers should keep available to them because having immediate access to cash might be required to buy an emergency plane ticket home, new hotel accommodation or a few more drinks at the bar.

Prepaid Travel Cards
A prepaid travel card can be used in much the same way as a credit card. Travellers can buy products and services abroad by having their cards swiped at point of purchase. The only difference is that the tourist has already loaded funds on to the card. Whereas credit cards provide travellers with a limited source of finance that must be paid off later with interest, prepaid travel cards keep spending in check because a specific amount of money has been reserved for expenses. Using prepaid cards can encourage travellers to adopt a more sensible approach to spending money on holiday.

Traveller’s Cheques
The traveller’s cheque is no longer a popular choice among tourists, largely because credit cards offer more flexibility, but it can still be useful at times. Traveller’s cheques are ideal for people who feel uncomfortable carrying cash but do not want to overspend on credit cards

Here is a selection of current 0% APR credit card deals.

Barclaycard are currently offering a Platinum Credit Card with an extended balance transfer. You will pay a 2.9% handling fee on balance transfers for 22 months from account opening and pay 0% interest on
transferred balances. You can also pay 0% interest on purchases made within the first 3 months from the account being opened. You can also choose to have paperless statements and manage your account online.
You can also earn 1% cashback with freedom rewards.. After 3 months the APR on new purchases will rise to 17.9% APR.

Royal Bank of Scotland are currently offering a Platinum Credit Card with an extended balance transfer. You will pay a 2.9% balance handling fee on balance transfers for 20 months from account opening and pay 0% interest on transferred balances. You can also pay 0% interest on purchases made within the first 6 months from the account being opened. Customers with a Royalties or Royalties Gold RBS Bank Account can also get a 1% discount on the APR for at least 12 months once the 6 month new purchase period has passed. You can also get an interest free credit period of up to 56 days if you pay your balance in full and on time and have done the same on the previous months payment.

HSBC are currently offering a credit card for their current account holders with an interest free period. You will pay a 3.3% balance handling fee on balance transfers for 23 months from account opening
and pay 0% interest on transferred balances. You can also pay 0% interest on purchases made within the first 3 months from the account being opened. You can also get a discount of up to 8% off holidays booked through the HSBC travel service. Additional cards are available on this account and there are numerous benefits available including an emergency cash advance services if your card is lost or stolen and you can get 24 hour Worldwide assistance. There is no annual fee to pay and you can manage your account online.

Natwest are currently offering a credit card with an extended balance transfer. You will pay a 2.9% balance handling fee on balance transfers for 20 months from account opening and pay 0% interest on transferred balances. You can also pay 0% interest on purchases made within the first 6 months from the account being opened. Balance transfers are limited to 95% of the credit limit. Balances from other
RBS group cards is not permitted. After the initial 0% interest free period the APR will rise to 17.95%.

Credit card deals can change almost weekly with some companies so if you want the most up to date 0 credit cards deals then be sure to look at uSwitch for the most current deals.

The biggest difference between a pre-paid card and a credit card, is that with a credit card you are borrowing money which you have to pay back with interest, while with a pre-paid card, you load it with your own money before you begin spending and therefore do not borrow any money and do not have any money that you need to pay back, which is great if you have any debt problems as it makes it easier to manage your money.

A pre-paid card can be used to help you to budget your money in a safe and secure way that gives you all the advantages of being able to shop online or by phone, but with none of the disadvantages of using a credit card.
You can load your money on to the card knowing that you will never be able to overspend because the pre-paid card won’t let you.  It is as safer to use than a credit card too because as well as using the chip and pin system that a credit card uses, it’s not linked to any bank account or borrowing so that if it was somehow stolen and misused, there would never be any chance of the thief running up any debt in your name.

Pre-paid cards can be used to help you or even your teenager to learn budgeting skills.  By being able to use a credit style card without any risk of getting into debt, you can avoid all the pitfalls involved with credit cards, but still shop around for the best value and bargains.

Establishing good money management skills and budgeting skills is much easier when you have the ability to shop around by card, but without any risks while doing so.  You still need to pay attention to what you’re spending, and how much money you have left on the card, and there are still fees involved, but they’re much easier to deal with as you can see up front what they are, and you only ever spend money that you already have instead of buying things on credit and having to worry about paying them back.  As long as you take the fees for the card into account, and budget them into your spending, you’ll be able to manage your money much more easily this way.

This particular debit card must be linked to a Metro Bank Current Account and, in order to get one, you must visit one of the eight Metro Bank Branches around London in person. They reckon that it will take you around 15 minutes to sign up, but to be on the safe side it’s best to allow one hour. You will also need to take two forms of ID with you and allow them to run a credit check on you while you wait.

Once you’ve got the new current account open, you don’t need to pay any money into it immediately or to pay you salary into it or anything like you do with a number of accounts these days. In fact, if you want to you can just pay in the right amount of money to cover just your holiday spending.

To get the actual debit card, you literally wait in branch having just opened your account and they create the card for you while you wait! Once you have the card, you will benefit from all of the following:

Free Exchange Loading.
Zero charges when you withdraw money at an ATM machine.
Zero spending charges on purchases.
0% interest charges when you make a Cash withdrawal.

Obviously these features make it an excellent card to use when you travel abroad either for business or on holiday as you won’t find yourself losing huge chunks of money through exchange rates, or as you withdraw the money or make purchases.

You can find Branches of the Metro Bank in Holborn, Earls Court, Fulham Broadway, Borehamwood, Tottenham Court Road, Kensington High Street, Bromley and Croydon. There are also four further branches opening soon in Uxbridge, Houndslow, Ealing and High Wycombe. All branches are open Monday to Friday 8am till 8pm, Saturday 8am till 6pm and unlike most banks they are also open on Sundays between the hours of 11am and 5pm.

The MeCard can be owned by anyone age 13 or above, and is designed in such a way that you get 24 hour access to your account online where you can see transactions and balance, you can add credit to your PAYG mobile phone from your MeCard with a single text, and you can be sent money by mum or dad, or even by friends and family on your birthday or other special occasions.

The MeCard looks and feels very much like a debit card, and functions in much the same way using chip and pin technology. The difference is that with this card, you must pre-load money onto it before you can spend anything, so there’s no way you can go overdrawn.

Because the MeCard is designed for teen use, money can be sent from a registered parent MeCard to the teen MeCard by a simple text. This allows parents to hold money on a parent card and then send it to their child’s card easily. This means that if you wish to let your child have money in a controlled way, or only on pocket money day you can. It also means that if your teen goes away on holiday, or a school trip, or perhaps when they first go off to university, they can text you if they have urgent cash needs, and you can text cash back to them.

Because the MeCard IS aimed at teens, it comes with a few features you wouldn’t get with most pre-paid cards. For a start, it has its own MeCard page on facebook and twitter that MeCard owners can sign up to. MeCard members also get special access to concerts and other events and discounts on all sorts of things from online games to clothes, shoes and even everyday things like books for college etc.

Of course there are some fees associated with the card like there are with all pre-paid cards, such as loading fees, however on the MeCard because you have a parent card and a teen card it works slightly differently.
The Parent card has a minimum loading amount of £10, and a maximum of £500 at PayPoint and Post Office, £300 online by debit card, £3,000 by BACS or wages transfer, and its maximum balance is £3,000.

The Teen card can ONLY be loaded from a parent card. The maximum money share (i.e. the amount passed from the parent card to the teen card in one transaction) is £500 and the maximum balance is £500.

http://www.mecard.co.uk/

This card offers all the convenience of a credit or debit card, but without any worries about going overdrawn or building up large debts. Because you can only spend the amount you’ve chosen to load onto the card, you can stay easily in control of your money and spending.

You can load your card in different ways including loading cash on to it at any PayPoint, or via bank transfer or standing order. You can also ask your boss to pay your wages directly into your speed-e-card account.

There are some charges to be aware of – you’ll pay £7.95 for your card, and if you need to replace the card it will cost you £5.99. If you need your PIN reissued they will charge you £2, and it costs £1.50 per transaction to withdraw money from a UK ATM machine and £2.50 from an international ATM machine.

Point of sale transactions in the UK cost 75p each, and international point of sale transactions cost £2 each. Topping up your card by BACS however is free, as is a card to card transfer. All these fees may sound quite a lot, but you need to balance this against the advantages of never being able to go over drawn, and not paying any interest as you would with a credit card.

Overall, used carefully these cards can be very useful. They are available to many people who can’t get a debit or credit card and make it possible for you to make purchases on the internet safely without risking your credit, debit or bank details getting into the hands of identity thieves.

This card is NOT a credit card. In order to use it you have to load it with money first – this is one of the things which makes it so ideal for use by those under 18.

The card can be used around the world wherever the MasterCard acceptance mark is found. This means that it can currently be used in over 30 million locations including topping up mobile phones, book concert and cinema tickets, train and coach tickets, download music and games, buy dvds, clothes, pay bills and much more.

Topping up the card is easy. You can top up for free with cash at any Phones4U store, at any Post Office branch for a 99p fee, at any PayPoint location for a 3% fee. You can have the card topped up directly from your wages, or by parental top up using a credit or debit card.

Parents may be interested to know that the card is blocked from purchasing certain items – it can’t be used to buy alcohol, cigarettes or adult material which means you can be worry free in allowing your teen to have one. It’s also easy to lock and unlock the card via SMS message so if its misplaced you don’t need to worry, you can just lock it, have a good search and then unlock it when found, or even lock it between purchases for added security.

Because it can’t be used for certain purchases, it also makes it a great way to help out your teen who’s away at university. If they say they’re low on funds for food for example, you can be sure they won’t be wasting any money you put on this card on the ciggies or booze.

There are a few fees involved in owning this card – UK purchase transactions are free, but UK ATM withdrawals cost 99p each, while overseas, purchases are free and you can’t withdraw at ATM machines. The card also costs £9.99 to purchase.

Because the ClearCash card is not a credit card, you can only spend money which you have already loaded on to it and will never incur interest charges for money you spend. This means that you can’t get into debt with it. The card works very much like a credit or debit card when you use it, in that it comes with Chip and PIN for security.

Loading money on to your card is easy and can be done in a number of ways. You can load money by bank transfer, top up at a PayPoint location or at any Post Office branch, or you can have money loaded onto it directly from your employer if you want.

The card comes with two different tariff options – pay as you go, or pay monthly. With the pay as you go option, there is no monthly fee, and it’s ideal for occasional use as you just pay a simple 2.5% fee per transaction and you earn cashback on your purchases. With the pay monthly option, you get free unlimited purchases making it ideal for everyday use, instead paying a simple £9.99 monthly management fee which is taken from the balance of the card each month. You can have your salary paid onto it and you get free purchase protection too.

Checking your balance on your card is easy to do, and it’s important to make sure you do keep an eye on the balance to avoid any embarrassing situations at the checkout. You can check your balance by logging into your account online, registering your mobile phone with the system and texting a simple balance request to a given number which replies with your balance.

Overall, using this card is simple and it lets you do almost anything a credit or debit card can do. It does cost to use it, but by picking the right tariff for you, you can keep these costs low, and as you’re not borrowing money you avoid the risk of getting into deep debt that can occur with a credit card.
To apply for a card, you must be over 18, live in the UK and be able to provide evidence of who you are and where you live.

But what are credit records and credit scores, and how do they affect you?

When you apply for loans, credit cards, mortgages or other forms of personal finance, chances are that the lender will look at your credit records and your credit score. These two checks will play a large part in determining whether your application is successful, and possibly the interest rate you will be charged. Generally, the higher risk you are perceived to be, the higher your interest rate will be.

Credit record
This is simply a record of your financial and credit activities. It will list any loans, credit card accounts, overdrafts, graduate loans and store cards you have, or any other form of borrowing you have done. Usually, it will show your initial balance, your current balance and your payment history. It will track how regularly you make payments and will show if you have missed any monthly payments on any form of finance. It will also record any court judgements against you, for example if you have failed to pay your council tax, and whether you have been made bankrupt. Records are generally kept for six years.

Most financial institutions use one of two credit reference agencies, Equifax or Experian. Anyone is legally entitled to see the information each company keeps on them. For £2 (each), the company will send you the details they have on you.

Credit score
This is a statistical analysis of the risk you present to a potential lender, drawn from your credit record. The higher your score, the less of a risk you are. The score is made up of a number of factors, including your credit record. However, not every lender uses credit scoring and many lenders will also assess applications based on other factors as well as a credit score. A poor score can limit your ability to borrow money or reach your financial goals.

Improving your score
Since your credit score can influence your financial opportunities and can even affect your ability to buy a home and get a job, it’s well worth trying to improve your score and repair bad credit. Here are five tips that could help you:

1. Make sure you’re on the electoral roll: This is one of the key factors credit reference agencies look at. If there is no public record of where you live, your score could fall. You can register at the Electoral Commission.
2. Pay your bills on time: If you have a good track record of making payments, you will be more attractive to lenders. Likewise, if you have a history of missing payments, or defaulting on debts, fewer firms will be prepared to lend to you again.
3. Open a higher than average interest credit card: for which you are more likely to be accepted.  Make sure you manage it properly to help rebuild your credit rating. This means repaying every month in full, spending a little each month for six to twelve months. For most credit cards, this method will only work if you just use your credit card for purchases.  It is important to make sure you make your payments on time and stay within your credit limit or otherwise it will have a negative effect on your credit rating.
4. Check your credit file: Unfortunately, sometimes mistakes do happen, and occasionally fraudsters may try to use your details for their own gain. Make sure the details the credit reference agencies have for you are accurate.
5. Close unused accounts: If you have a credit card or bank account that you no longer use, close it. You are much more likely to forget to contact the company when you move house, or notice if cards or statements go missing, which means you could become a victim of fraud as a result.

It can be used to pay for goods and services in shops, restaurants, hotels etc. just as you would your regular debit or credit card, and you can also use it to withdraw money at ATMs in the country you’re visiting too.

Cash Passports can be obtained in seven different currencies – British Pounds, Euros, US Dollars, Australian Dollars, Canadian Dollars, New Zealand Dollars, and South African Rand, and can be used in any country where these currencies are used. When you load your card, you can lock in the rate of exchange, and the cards can be bought online or in any Thomas Cook or Going Places store.

Because the Cash Passport isn’t linked to your bank account it’s secure to use, and if the worst was to happen and it got lost or was stolen, it comes with 24/7 global emergency assistance so that the card will get cancelled, and replaced with a new one giving you peace of mind that you won’t be left without cash, and you won’t need to worry about informing you bank or anything else while you’re away.

The Cash Passport is convenient too as millions of ATMs worldwide and millions of stores and other locations will accept it – where ever you see the Visa or Plus logo or MasterCard Acceptance Mark (depending on which type of Cash Passport you have) in fact. You don’t need any bank details to obtain one, all you’ll need is photographic ID such as your passport or driving licence.

You can manage your card balance online too, and find out where your nearest ATMs are as well as loads more. Unspent funds can either be withdrawn at an ATM, or you can cash them out, or you can just leave them on there for your next trip. What’s even better is that you can save for your holiday through the year by loading cash onto the card every month or just when ever you have a bit spare if you want to. Each Cash Passport card is valid for four years and can be re-loaded as many times during that time as you want. You can even register your mobile phone number in the ‘my account’ details online so that you can be sent low balance text alerts when the card balance drops below £100.

http://www.cashpassport.com/1/en/thomascook/