In 2005 for initially ever, plastic purchases topped cash purchases. Are we heading for a cashless society where charge cards replace cash altogether?
If it’s as much as the card companies, the solution can be an unqualified yes. As consumers have 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 trying to profit by encouraging consumers to utilize their charge cards for more and more transactions. The current campaign among all of the major bank card companies is encouraging’small change’transactions, which is why 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? This means that it’s becoming easier and easier to fund even the tiniest purchases with plastic. In an attempt to woo the UK credit consumers, many cards now offer cashback rewards for every bit of cash that you spend on your plastic. Investing in everything with a bank card is convenient, easy, lets you track your expenses and offers you cash rewards for your patronage.
Where does that leave the UK consumer who does not have any charge cards – or is not able to qualify for among the major rewards cards? There are numerous options open to even individuals with damaged credit to make the most of the convenience and safety of plastic payments. Here are just a few of the options open for your requirements even if your credit score is below par.
Bad credit charge cards
Most major bank card issuers offer so-called’bad credit charge cards ‘. In general, they carry a greater rate of interest than those issued to’typical’customers with good credit, but as the push to achieve more and more market share continues among the card companies, those limits are increasingly being relaxed. You’ll find bad credit charge cards with APRs as low as 12%, though they may carry an annual fee.
Secured Credit Cards
Another choice available to consumers with adverse credit ratings is a secured credit card. Whenever you apply for one of these brilliant cards, you place an amount of money on deposit in the issuing company’s choice of bank 소액결제 현금화.That amount stays there to secure any purchases that you make. So long as you spend your accounts on time, it isn’t touched – actually, 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 an excellent payment history, you could receive a supply for an unsecured card at less rate of interest.
Stored value cards
If you want not to deal in credit, but still want the capability of paying with plastic – for online payments, as an example – a stored value card could be the solution that you need. Stored value cards are like bank debit cards with a bank card logo – except that they’re not linked with many bank accounts. You are able to’load’the card at a merchant’s shop, by mail, via your banking account or another credit card. You’ll pay a’loading fee’to place money on the card, but you’ll never pay any interest since you’re not actually borrowing money – just putting your own personal money on plastic.