#CARDWORKS MANAGEMENT TEAM REGISTRATION#

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#CARDWORKS MANAGEMENT TEAM REGISTRATION#

2065 Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.Visit the Lending Standards Board website. Registered Office: 25 Gresham Street, London EC2V 7HN. Visit /creditcards for more information on credit cards.

So if there’s a problem with your purchase, your credit card provider could help you get your money back. Or, if you have existing borrowing, but see a lower interest rate offer, you could reduce your outgoings by transferring your balance to a credit card with another provider.įor purchases over £100 and up to £30,000, credit cards offer protection under Section 75 of the Consumer Credit Act. So, if you use it responsibly, a credit card can be a helpful tool.įor example, you can furnish your new house whenever you move in, then pay for it over the course of the year. That’s why we recommend paying as much as you can every month. However, if John regularly pays more than his minimum payment, he will clear his balance faster and pay less interest on the money he borrowed. This is the minimum amount his credit card provider will let him pay towards his balance each month. So if one month John’s budget is particularly tight he can choose to pay only the minimum payment. However, if he pays it back over a longer period he’ll pay interest – unless he happens to have an interest-free offer.Ī credit card lets you change how much you pay back each month depending on your circumstances. If he pays off his entire statement balance before that month’s due date he won’t be charged interest at all. Every month, John will get a credit card statement that tells him his overall balance, how much his minimum payment is and the due date he needs to pay by. He can use this to repair his car for £500 then pay this off over time. This is the maximum amount a credit card will allow you to borrow at any given time and is based on your personal circumstances.įor example, say John has a new credit card with a credit limit of £1,000. And other fees, which can be standard or charges for things like late payments.Įvery person gets a credit limit for their card.Interest, which is worked out as a percentage of the money you’ve borrowed.You’ll usually be charged for borrowing in two ways: So it’s important to choose a credit card that’s right for your needs. Unlike a debit card, which uses the money in your account to pay for things, a credit card borrows money, which you’ll then need to pay back later.

Cardworks management team