Asda Money t/a Asda Financial Services Limited

October 03, 2012 01:00 ET

How to Find the Right Credit Card for You

There are a number of credit cards available on the market which suit different lifestyles and different requirements. Asda Money provides a guide to types of credit cards.

LEEDS, UNITED KINGDOM--(Marketwire - Oct. 3, 2012) - There are a number of things to consider when choosing a credit card. This may involve thinking about why you may want a credit card in the first place. Here are a few things to consider when taking out a credit card:

APR

Credit cards can often offer a safety net for those who might need some extra cash in an emergency situation. If you are planning on not using a credit card very often and are simply taking one out to provide a financial security blanket, it could be worth looking into the interest rate levels. The Annual Percentage Rate (APR) is typically the interest you have to pay to borrow money. The lower the APR, potentially the less interest you might have to pay.

Introductory offers

Some providers offer a range of tempting introductory offers. This could be a higher percentage of cashback for a limited time frame. Deals could also include 0% interest on either purchases or balance transfers.

Balance Transfer

The Asda Money Credit Card, for example, offers 0% interest on balance transfers for 12 months*. Those looking to transfer debts might want to consider a credit card with a long term balance transfer at a low percentage rate. Some cards offer 0% interest free introductory rates for those looking to transfer balances across.

Cashback

Those looking to use their credit card more often to make regular purchases might want to consider the different types of rewards that you could benefit from. In some cases, this can be a cashback scheme at a certain percentage. The Asda Money Credit Card, which offers 1% for cashback on Asda shopping in store, online and at Asda petrol stations, could benefit shoppers.

About Asda Money Credit Card

  • 1 % cashback on Asda shopping

  • 1% cashback at Asda filling stations

  • 0.5% cashback on all other spend using this card

  • 0% balance transfers for 12 months*

Representative example:
Standard Purchases: 14.9% p.a. variable.
Representative APR: 14.9% variable.
Total amount of credit: £1200.
This is for illustrative purposes only and actual total amount of credit may differ.

*Balance Transfer Terms and Conditions: Balance Transfer fee of 2.9% (minimum fee £3 per transaction) will be charged in respect of each Balance Transfer. Subject to account status. Account Terms and Conditions apply. You can Balance Transfer up to 80% of the available credit limit within the first 90 days of account opening. Balance Transfers from existing storecard accounts and loans issued by Creation Financial Services Ltd or Creation Consumer Finance Ltd and credit card accounts issued by Sygma Bank UK are not permitted. Minimum value for Balance Transfer is £50. At the end of the promotional period you will be charged the Standard Rates of Interest in accordance to your Account.

Asda Money is a trading name of Asda Stores Limited. Asda Stores Limited uses a selection of companies to provide its products and services. Please refer to www.ASDA.com/money for details of our product partners and the relevant terms and conditions for each of our products and services.

Subject to status. Applicants must be aged 18 or over and UK resident (including Isle of Man and Channel Islands). The Asda Money Credit Card is issued by Sygma Bank UK, Chadwick House, Blenheim Court, Solihull B91 2AA.

Contact Information