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November 2008

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10 Good Reasons to Avoid Store Cards

Store Cards are similar to credit cards branded with the name of the store that issues it and can be used only to purchase goods from that chain. They are often promoted heavily in stores and can initially appear attractive, but beware there are many more disadvantages attached to them. Here are 10 very good reasons to avoid them....

  1. They charge excessive rates of interest.

    The interest on most store cards is often double that of ordinary credit cards. Read more »

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Making APR (nearly) as simple as ABC!

 

Are you one of the many that gets confused and turned off when lenders start talking about APRs?  If so, here's a brief explanation that takes it back to the basics and hopefully helps you understand what has become a common piece of financial jargon. All lenders are obliged to tell you what the APR is when you apply for a loan, so you can't avoid it!

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Secured or Unsecured that is the Question.

In today’s economic climate, many people are looking for additional finance in the form of a loan, which come in two main forms - secured and unsecured. But what’s the difference?

 

Secured loans require you to provide the lender with some form of security. Most often, the security levied is your property – regardless of whether it is mortgaged or is owned outright. A loan secured on a mortgaged property is known as a 'second charge', whereas a loan secured on a property that is owned outright is known as a 'first charge'. Read more »