The holidays are often seen as a time for family, but that doesn’t mean that the UK financial industry is going to stop marketing. If anything, it feels like the marketing increases because they know that you’re going to have time off work. They want to have your business and there’s absolutely nothing wrong with that. They provide a service that many people want. You need to build your credit history, but you have to make sure that you’re doing in a smart, systematic, orderly and healthy way as it relates to your overall financial blueprint. If you’ve been looking for some opportunities to build new credit, you might want to take a look at actually getting some of the rewards credit cards that come out.
The idea behind these cards is pretty simple — they want to reward you for actually using the card. It’s going to be hard to not use a rewards card, especially when you know that you can earn points and miles by doing so.
Should you go with a card that awards points, miles, or a mix of the two? This is a classic question that comes up when these cards are mentioned. It’s up to you to figure out which one you would rather have. Most of us here around the money blog prefer to go with miles, because we all travel. It’s very nice getting cheap international tickets, especially when we want to go on summer holiday. However, if you’re not a super traveler, you might as well get points that you can use at other places, or get gift certificates for all of your favorite restaurants.
The best part of it is that you don’t have to search far and wide for these credit cards. They’re going to be clearly advertised, because they are truly that popular. There’s no need to worry that you’re going to be automatically shut down when you apply. Some rejection happens, but overall even people who have had some credit problems in the past can still be approved. It really depends on what type of credit score you have. If you haven’t pulled your credit file in a while, you might want to do so.
If you’re rejected by a rewards credit card, you can pull your credit file for free. This is a good way to make sure that all of the information that they looked at is correct. If the information isn’t correct, then you’re going to have a world of problems waiting for you, which isn’t what you want. Correcting incorrect information is possible, but negative information that is correct will unfortunately have to stay.
We think that rewards credit cards can be a good first, but you will want to read the fine print carefully. A high interest rate just to earn points and miles should be avoided at all costs. You also want to make sure that you’re going with the one that’s going to offer you the best incoming deal. The new customer is valued in the credit card industry, so make sure that you’re getting as many perks as possible from the very beginning. You want to feel valued, because you’re going to be making them money. You might as well get as much out of it as possible.
The time is right to check these things out. Even though you might be gearing up for a very busy holiday season, you have to make time for some things in life!