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The right credit card 'could be lucrative'

Choosing the right credit card could be lucrative, it has been suggested.

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18 February 2009

The right credit card 'could be lucrative'”

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As the credit crunch takes hold, credit card holders may be feeling the pressure, according to an article in the Telegraph.

However, Rosie Murray-West and Emma Simon advise possibly applying for an extra one - as it is "unlikely to harm your credit rating and could prove lucrative".

Adding one company includes an introductory bonus of five per cent on everything spent in the first three months, the article suggests card holders can make money before using the spending tool by going for a cashback deal.

Through adopting such methods, the writers reveal they initially made £40, followed by an extra £27 from cashback deals for a successful application and an additional £200 "further down the line".

In related news, a survey has revealed people are still willing to spend money for Valentine's Day.

Undertaken by Barclaycard Payment Acceptance, the poll found flower sales were up 168.8 per cent on the week before, while restaurant takings also rose 20 per cent over the same time.

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
	Virgin Credit Card
	20 months	3 months	16.8^%
16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
	Barclaycard Platinum with BT
	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
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