Credit card companies are fiendish in their use of pernickety figures to give potential customers brain ache.
So, rather than consumers making the best choice for themselves, like a mug punter going head to head with a card sharp, they pick the card the issuer wants them to take.
And that card will be the one that gives the issue a better deal than it gives you, the customer.
And that’s where mycreditcardwizard.com comes in.
You see, we know all the little tricks credit card issuers use to squeeze money out of you.
For example, those annoying little fees every time you use your credit card abroad?
Credit card companies would like you to believe these “foreign loading fees” are part and parcel of the rigmarole of converting the currency back to sterling.
But they’re not.
The actual exchange rates are determined by the networks – MasterCard and Visa – and because these networks handle tens of millions of pounds’ worth of transactions daily, their exchange rates are hugely competitive.
But when MasterCard or Visa has done the currency conversion your issuer slaps on 2.75% of the transaction’s value when the currency conversion hasn’t cost the issuer anything.
And that’s only one trick. Another is charging you the full interest on balances you partially clear.
If you buy rack up a large bill and pay half of it off, the card issuer quietly charges you interest on the whole amount – even the bit you’ve paid off. So you pay off some of the money you’ve borrowed and they charge you interest on it. They’re basically penalising you for paying them.
As well as pointing you in the direction of the credit card that’s right for your financial circumstances, you can use our interactive tools to help you shrink your balance faster.
The reason we’ll reveal the way in which credit card companies screw more money out of you it to empower you, the customer. Because if you know how they try to extort money from you, you can take steps to thwart them and keep that money in your pocket.
So if you want the card that costs you the least interest, that has the best perks, that doesn’t hit you with foreign usage fees, that offers zero per cent interest for nine months on balance transfers and a whole host of other things, check out mycreditcardwizard.com.
You’ll be glad you did.