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Important!
Debt, in any form, should not be considered lightly. If you are already experiencing debt problems, we would strongly urge you to get a debt consolidation loan review before seeking further credit. Whilst consolidation loans can help in some circumstances they can also further exacerbate debt problems. Alternatives, such as changes in lifestyle and IVAs may be better suited to your needs, and you should seek expert advice in these circumstances.
Great loans and credit cards
Hannah Ricci from MoneyWise 19.04.07
Whether the warm weather has inspired you to make home improvements or you're organising a trip away - an unsecured personal loan or credit card could help make your plans more affordable. However, being on a bad deal could send your repayments through the roof so in such a competitive market it's important to find the cheapest provider to borrow from.
Asda has recently stormed into the personal loan market offering very competitive rates. It currently offers the best deal for borrowing £10,000 over five years, with an APR of 5.9% and monthly repayments of £192.16 without insurance. If you want to clear the debt quicker Masterloan also charges 5.9% on £10,000 with monthly repayments of £303.07 without insurance over three years. Asda also charges just 5.9% on a £5,000 loan over three years, with monthly repayments of £151.64 without insurance.
Company Loans
If you are thinking about starting a company, along with the routine tasks such as registering with the Inland Revenue and finding a company registration company, most people will also need to find a company or business loan to cover those ever growing startup costs.
When looking for a company loan, you need to go with a bank / broker you can trust. You will need to be sensible about the amount you need to borrow, and provide a business plan which proves that your business will be profitable enough to pay the business loan back.
Credit cards
Barclaycard is currently topping the tables in the credit card market. Its Platinum Special card offers 0% on balance transfers for 13 months and 0% on purchases for three months, before reverting to a typical APR of 14.9%. While the Barclaycard Purchase card offers 0% on purchases for 10 months but 5.9% on balance transfers.
Barclaycard is also top for the lowest standard rate which is useful if you don't want to keep switching cards to take advantage of 0% rates; its Simplicity card has an APR of 6.8% on purchases for the life of the card with 56 day interest free period.
The best credit card for use overseas is the Post Office Classic card, which charges 14.9% on purchases; 16.81% on cash withdrawals with 2% withdrawal fee, and no foreign usage loading.Financial Healthcheck...
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