CHARGE CARDS

Which Way To Pay has compared and reviewed a range of charge cards, so that you can enjoy a balanced view of each one. What are the main advantages and disadvantages of charge cards? Charge cards are usually aimed primarily at people with higher income – the cards provider may even set a benchmark income per year, so that if you earn less than this you will be refused. Use the chart below to compare key factors when considering what charge cards to apply for, such as fees and balance transfers. The annual fees associated with charge cards can be expensive which may put some people off. However, many feel that the benefits outweigh this. You may also find that charge cards are not as flexible as credit cards as you may not be able to withdraw money from an ATM with a charge card. Is there a credit limit to the card or does this card offer unlimited spending? Always read the terms and conditions fully before you apply.

If you wish to speak to someone: Contact Us or Enquiry Line: +44 (0) 207 386 5300

CARD NAME	ISSUER ISSUER Card issuer	FEES FEES Annual fees	CREDIT LIMIT CREDIT LIMIT Amount of credit offered	CHIP & PIN CHIP & PIN Chip and Pin facility	CASH ADVANCES CASH ADVANCES Cash advance offered	BALANCE TRANSFER BALANCE TRANSFER A credit card balance transfer is the transfer of the balance (the money) in a credit card account to an account held at another credit card company	NEW PURCHASE NEW PURCHASE New purchase rate available	REBUILD CREDIT REBUILD CREDIT Credit rebuild facility	REWARDS REWARDS Rewards available with charge card	MORE INFO
Barclaycard Business Charge Card		£32	Ask On Application		3% of amount or minimum £3.		38 days		Rewards
Barclaycard Business Charge Card	With the Barclaycard Business Charge Card you can enjoy cashflow support and more control over your business finances with a simpler way to manage you anc your employess's spending. You can get a gold or platinum card and Enjoy up to 38 days interest-free credit. You can also get up to 55% off usual AA membership rates. Before you apply for a credit card it is important that you consider your financial circumstances carefully. Work out which credit card is best for you. Make sure that you read the terms and conditions. DETAIL INFORMATION >>									Acceptance Criteria Acceptance Criteria You are eligible to apply for the Barclaycard Business Charge Card: 1. If you've not been declared bankrupt or had any county court judgements in the past 6 years 2. If you have always made payments on time 3. If your expected gross income is more than £10,000 p.a. Advantages Advantages 1. Up to 38 days interest-free credit 2. Set individual card limits 3. Online expense management system 4. Cardholder misues protection 5. Option of Platinum Card Insurance Benefits: 1. 90 day purchase protection 2. 12 months extended warranty cover 3. Personal travel accident cover Disadvantages Disadvantages 1. Charges for late or missed payments 2. Annual Fees apply 3. 3% Cash witdrawal fee 4. 3% foreign exchange fee
American Express Gold Business Charge Card.		£95 p.a.	Ask On Application		£3 or 3% of total amount				Rewards Every time you use the Preferred Rewards Gold Card, you’ll earn Membership Rewards points to redeem against your choice of a huge range of travel partners including bmi, British Airways, Eurostar, Hilton, Sheraton, Virgin Atlantic and many more. Get 1 point for virtually every £1 you spend and, double points for travel spend.
American Express Gold Business Charge Card.	Every time you use the Preferred Rewards Gold Charge Card, you’ll earn Membership Rewards points to redeem against your choice of a huge range of travel partners including bmi, British Airways, Eurostar, Hilton, Sheraton, Virgin Atlantic and many more. Get 1 point for virtually every £1 you spend and, double points for travel spend. Earn 40,000 Membership Rewards points when you spend £3,000 in the first 3 months of Cardmembership. That’s enough to whisk two people to Europe and back with British Airways. DETAIL INFORMATION >>									Acceptance Criteria Acceptance Criteria 1. I am aged 18 or over 2. I have a current UK bank or building society account 3. I have a permanent UK home address 4. I have a household income of at least £20,000 5. I have no history of bad debt 6. And if self‐employed, I have been working for more than one year 7. If you satisfy these requirements, an application takes less than 10 minutes and you can get a response in 60 seconds – so apply now for your Preferred Rewards Gold Card Advantages Advantages 1. First year bonus‐ double Membership Rewards points when you buy your everyday purchases. 2. Travel Inconvenience Benefit‐ £200 for meals or hotels if your flight is delayed for over 4 hours. Or if you're left without luggage for more than 6 hrs, get up to £750 for toiletries and clothes 3. Travel Accident Benefit‐ up to £250,000 in the event of loss of life, sight or limb when public transport travel tickets are charged on the Card 4. Purchase Protection Benefit‐ if something you bought with your Card gets stolen or damaged within 90 days of purchase, reimbursement for repairing or replacing it up to a maximum of £2,500 per eligible item 5. Refund Protection Benefit‐ reimbursement for unwanted items bought with the Card within 90 days of purchase, up to a maximum of £300 per item 6. 24hr Customer Care 7. Accepted Worldwide Disadvantages Disadvantages Only 39 Days purchase interest free period Full balance has to be paid monthly.
American Express Platinum Charge		£450 p.a.	Ask On Application		£3 or 3% of total amount				Rewards The Membership Rewards Programme earns you 1 point for virtually every full £1 spent on the Card.
American Express Platinum Charge	The American Express Platinum Charge Card offers you a helping hand towards your next adventure. There is no pre-set spending limit with this card and you can get a response on your application within 60 seconds. This card is the one thing you will want to take away with you when you travel. Earn 30,000 Membership Rewards points when you spend £2,000 in your first 3 months which is enough for 2 return flights to Barcelona! Before you apply for a credit card it is important that you consider your financial circumstances carefully. Work out which charge card is best for you. Make sure that you read the terms and conditions carefully. DETAIL INFORMATION >>									Acceptance Criteria Acceptance Criteria 1. I am aged 18 or over 2. I have a current UK bank or building society account 3. I have a permanent UK home address 4. I have a household income of at least £40,000 5. I have no history of bad debt 6. And if self-employed, I have been working for more than one year. Advantages Advantages 1. No interest charges - just pay your balance in full every month. 2. Unlimited access to over 1,000 airport lounges in 83 countries around the world 3. Elite tier membership with Starwood, Accor, Carlson, Hertz and Avis. 4. Your dedicated Platinum Travel and Concierge Service can take care of travel plans, tickets and dinner reservations. 5. Comprehensive worldwide travel insurance for you, your family, your Supplementary Card members and their family. Disadvantages Disadvantages 1. £450 annual fee 2. You must pay all charges in full when you receive your Card account statement

If you wish to speak to someone: Contact Us or Enquiry Line: +44 (0) 207 386 5300

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Charge Cards

Charge Cards can offer you the benefits of credit cards with no credit limit.

What is a Charge Card?

Charge cards are different to credit cards because they give you financial flexibility and no pre-determined spending limit. You can still use the card as you would any other credit card, making purchases online, over the phone, in shops, restaurants and they have worldwide acceptance. But with a charge card you must make sure that you pay off the balance in full each month.

What are the benefits of a charge card?

Charge cards can aid you in rebuilding your credit rating if you have had financial difficulties in the past

As many charge cards do not come with a set credit limit you are able to buy almost anything and make far more significant purchases in comparison to what you would with credit cards which have set spending limits. You will not have to deal with expensive fees for going over your credit limit in the way that you would with a charge card.

There are a huge variety of rewards that you can earn with charge cards including discounts and offers in a variety of outlets, airmiles and deals on hotels .A lot of charge cards also often come with additional benefits such as insurance, extended warranty, 90 day purchase protection and much more.

What are the risks?

The annual fees associated with charge cards can be expensive which may put some people off. However, many feel that the benefits outweigh this. You may also find that charge cards are not as flexible as credit cards as you may not be able to withdraw money from an ATM with a charge card.

Finding the right Charge Card?

You are more likely to be approved for a charge card if you have a very good credit score.

It is important that you shop around and take the time to research the market to find the card that best suits you. Use the table above to compare different charge cards. Before applying make sure you read the terms and conditions fully, are aware of any fees involved and that you understand what the consequences are of missing payments.