Most cyclists, perhaps surprisingly, have no kind of insurance against theft or accident, but with numbers of cyclists killed and injured on the roads increasing year on year it is worth spending that little extra for the peace of mind.
With the total cost of a degree averaging out at nearly ?29,000 per student (post-degree debts can be ?10,000 and over) it is vital to mitigate against any unnecessary expenditure. One of your first decisions as a student is to select a bank account, remembering that tempting introductory incentives may blind you to more practical factors, such as the account's overdraft interest rate - important as most students invariably built up large overdrafts during their time at university.
If you are organised, there is the potential to make some quite tidy profits through the cunning use of credit cards and those who provide them. The following is one technique that you may find effective, but it does require you not to have any previous credit card debts outstanding.
Watch The Tricks & Small Print
In our view this card should be used for either the 12 month 0% purchases option OR the 39% life of balance transfer and NOT BOTH.
Why?
Because Credit card companies are inherently sneaky and are always trying to catch their customers out with small print. While we don’t know that this is the case with this Credit Card a likely scenario is the following -
* Use the card to buy ?2,000 worth of goods interest free for a year
* And also transfer ?4,000 to take advantage of the 3.9% life of balance deal
* You intentions are to pay off the ?2,000 (minus whatever has already been paid via the minimum monthly payment) at the end of the 12 months and then repay the balance of the ?4,000 over 3 years
* BUT the credit card will likely view the 2 debts as separate and will not allow you to repay the ?2,000 balance until the ?4,000 has been settled
* And the ?2,000 is now racking up interest of 16.9%
Sneaky yes but not a problem if we all learn to play the games by the credit card company’s rules and not our own.
Summary
Life of balance deals are great for budgeting debt repayments , especially when the interest rate is 3.9%. Is there a better deal on the market right now when Bank of England base rates are 4.75%? We don't think so.
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