In 2005 for the very first time ever, plastic purchases topped cash purchases. Are we heading for a cashless society where charge cards replace cash altogether?
If it’s up to the card companies, the clear answer is definitely an unqualified yes. As consumers get more savvy about handling charge cards and interest, the issuing companies for charge cards are finding their profits from lending money shrinking. In defense, they’re wanting to profit by encouraging consumers to use their charge cards for more and more transactions. The existing campaign among all of the major credit card companies is encouraging’small change’transactions, for which merchants end up paying 1-2% processing fees to the company. These’micropayments’are expected to top £20bn globally.
What does it mean for consumers? It means it is becoming easier and easier to cover even the tiniest purchases with plastic. In an effort to woo the UK credit consumers, many cards now offer cashback rewards for each and every little bit of cash that you may spend in your plastic. Paying for everything with a bank card is convenient, easy, enables you to track your expenses and offers you cash rewards for the patronage.
Where does that leave the UK consumer who has no charge cards – or is unable to qualify for among the major rewards cards? There are lots of options available to even individuals with damaged credit to make the most of the convenience and safety of plastic payments. Here are simply a few of the options open for your requirements even if your credit score is below par.
Bad credit charge cards
Most major credit card issuers offer so-called’bad credit charge cards ‘. In general, they carry a higher rate of interest than those issued to’typical’customers with good credit, but because the push to achieve more and more market share continues among the card companies, those limits are being relaxed. You will discover bad credit charge cards with APRs only 12%, though they might carry an annual fee.
Secured Credit Cards
Another option available to consumers with adverse credit ratings is really a secured credit card. Once you apply for one of these brilliant cards, you set an amount of money on deposit in the issuing company’s range of bank 소액결제 현금화.That amount stays there to secure any purchases that you make. Provided that you spend your accounts on time, it isn’t touched – in fact, it will earn interest. You are able to boost your credit limit by the addition of more to the account, and eventually as you build a great payment history, you could receive a present for an unsecured card at a lowered rate of interest.
Stored value cards
If you prefer never to deal in credit, but nevertheless want the capability of paying with plastic – for online payments, for instance – a stored value card could be the clear answer that you need. Stored value cards are like bank debit cards with a bank card logo – except that they’re not associated with many bank accounts. You are able to’load’the card at a merchant’s shop, by mail, via your bank-account or another credit card. You’ll pay a’loading fee’to put money on the card, but you may never pay any interest since you’re not actually borrowing money – just putting your own personal money on plastic.