Articles & Guides - Shrinking interest-free periods

The length of time between when you make a purchase and when interest is charged on it changes from card to card. And that's a problem. A study by Which? revealed that on two cards, both charging 15.9%, it would cost £83 in interest to pay off a £500 debt on one and just £58 to pay off the same debt in the same way on the other. That's £25 difference in interest, on two cards claiming to charge the same rate, all because of how long – or short – the interest-free period is.

Premium-rate phone lines

You've lost your card or, worse, had it stolen. So you need to call your card company to cancel it. However, while you might think this would cost you nothing, it doesn't. More than that, a string of card firms use 0845 numbers – which not only cost you more, but also make money for the card firm as well as the telephone company.