Credit Card Compare Blog - The Credit Letter

Credit Card Compare Blog – The Credit Letter Optimise your wallet

Search Form

5 Things That Damage Your Credit Score

  • 18th Jul 2011

damage credit score

You credit score. Is it just a nominal number not worth worrying about, or is it a number you should take an active interest in? For many in Australia the credit rating system is something not to be taken seriously, but that little number can have a significant and direct bearing on your life. Would you like to buy a new car and use a loan to finance it? Your credit score will determine whether you can get it or not. Would you like to buy a new home or refinance your existing home loan? The bank will check your credit score to make sure you can pay it off. These are only two of the many scenarios when your credit score can affect your quality of life in a very real way. So it pays to acquaint yourself with how this score can be damaged!
Read More

What to do When You Reach Your Credit Card’s Credit Limit

  • 11th Jul 2011

maxed out rejected

It can happen to anyone! You’ve been out shopping and swiped your card at the checkout only to be told that unfortunately your credit card has been declined. Immediately you are embarrassed. Recollections of previous spending sprees may come to mind along with the realisation that up until now you’ve only been making the minimum monthly payment. So when you reach your credit card’s credit limit, what can you do? Here’s some helpful tips if you’ve found yourself in this awkward position.
Read More

How Long Does it Take to Process a Balance Transfer?

  • 4th Jul 2011

balance transfer how longThe balance transfer is one of the most useful features of any credit card, allowing the cardholder to transfer their expensive debt to a new credit card and take advantage of a much lower interest rate. It’s a fantastically useful tool for getting control of your debt and eventually breaking free. But when you instigate a balance transfer, how long does it actually take for the balance to transfer from your old card to your new one?
Read More

What Your Credit Card Says About You

  • 1st Jul 2011

Lately I’ve started noticing the brands and types of people’s credit cards. A little sad I know but I have a feeling that I’m not the only one! Most people have non de-script credit cards that just get the job done, while others have elite looking cards that must have a lot of perks and privileges.

I feel like different cards do hold ‘power’ over us – you can be cool or somewhat exclusive if you have the right card – and we all want to be cool and exclusive, right?

Read More

Do I Need a Credit Card to Shop Online?

  • 30th Jun 2011

shopping online

If the convenience of shopping online, not to mention the better deals, appeals to you but having to use a credit card doesn’t, you might be wondering if you can shop without one. In short, the answer is yes! You definitely don’t have to have a credit card to shop on the internet.
Read More

A Guide to Balance Transfer Limits

  • 29th Jun 2011

balance transfer limits

All the credit card mumbo-jumbo floating about can get very confusing sometimes so let’s take a simple look at some of the issues surrounding balance transfer limits in language we can all understand.

What is a Balance Transfer Limit?

A balance transfer limit is the limitation set on how much debt or ‘balance’ you can transfer from an old credit card (or cards) to a new one. When you apply for a new card there will usually be an introductory offer of some description where you’ll be offered a good interest rate for a set timeframe for balance transfers. So in other words, if you choose to transfer some debt from an old credit card to a new one, you might enjoy a much lower interest rate than what you’re currently paying for a time period of say 6 months on that debt/balance. It varies from card to card. There will, however, be a limit on how much balance you can transfer from old card/s and this is called the balance transfer limit.
Read More

Spavers of the World, Chill Out

  • 28th Jun 2011

spaver

With the mornings getting colder, and my caffeine tolerance getting higher and higher, to get out of bed each morning I rely more and more heavily on the knowledge that there will be an inbox full of daily deal emails awaiting me.

Australian deal sites use a similar model to that developed by the US giant Groupon, which is one where buyers can take up deals on anything from hair treatments, restaurant meals and chiropractic appointments to cases of wine and consumer electronics. The deals only come into effect when a certain number of people have signed up to buy and it’s also only available for a limited time – usually a day.

These online discount shoppers have given given me a new lease on the portmanteau ‘spaving’, combination of ‘saving’ and ‘spending’.

But just as a ‘bromance’ is really a buddy movie, a ‘belieber’ is just a teenage girl with a celebrity crush, and ‘Brangelina’, ‘TomKat’ and ‘Bennifer’ are monsters in the caste of Cerberus, spaving is nothing new.
Read More

How You Can Improve Your Credit Card Application

  • 27th Jun 2011

credit card application

It’s well known that the banks are very strict in how they analyse a credit card application, especially after the ruination of the global financial crisis. However, applying for a new credit card doesn’t have to be a stab in the dark. If you can take care of some basic things, it is possible to improve your application and boost your chances of instant approval.
Read More

Cygnett iPhone Case Doubles as a Wallet

  • 24th Jun 2011

Cygnett Lavish iPhone4 Wallet

Recently, I dropped my iPhone4 and cracked the screen. It did have a little, rubber back-n-side protector but it fell face down. After a few days of battling on with cracked glass it was time to have the phone sent off to be fixed. And, when it came back I decided it was time for a better case…one that would really protect my phone and fit into my pocket.

I chose the black leather iPhone wallet from Cygnett. What I really like about this phone case is that it doubles as a wallet. My credit card, debit card, drivers license and few other cards fit neatly into the pouch inside the flip-down screen cover.

Read More

Maximising a Balance Transfer Card’s Benefit: How to

  • 23rd Jun 2011

Maximising a Balance Transfer Card's Benefit: How to

If you’re in debt and want to make a break toward being debt free, there may be a window of opportunity to help get you there quite simply. When you sign up for a new credit card, you can make a balance transfer. This means you transfer your debt from another card or elsewhere to the new card. The advantage in this is that many cards offer great introductory balance transfer rates and periods that can help you make some headway. The interest you’ll pay on your transferred debt can be as low as 0.00% p.a for a period of up to 6 months. This has got to be better than what you’re paying now! Alternatively you might get a rate of 2.99% p.a for 12 months. There are many variations depending on the card you go for.
Read More