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By Julia Kukiewicz Staff Writer
Friday, 5 September 2008
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Money News Roundup
If you only do one thing with your money this week...
You should compare credit cards to find a Gold card suitable for you.
You'll get higher credit limits, the ability to withdraw more cash and extras such as purchase protection and travel insurance.
You do have to have a good credit rating and salary to get one, though.
Try the Natwest Gold credit card or RBS gold credit card which both offer 0% on purchases for the first six months.
Previous Money News Roundups
See our other recent Money News Roundups and other related news stories:
Money News Roundup (29 Aug 08)
A glance back at this week's personal finance news with guest columnist Russell Cavanagh, including why you should compare credit cards that offer rewards.
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NEWS on Alistair Darling’s empty stamp duty gesture, September student moneysaving, and why credit cards are getting more expensive.
Gee, thanks, Darling – you shouldn’t have!
THERE’S been a lot of hot air blown about this week following Alistair Darling’s announcement that stamp duty will now only apply to houses over £175,000 (rather than the previous £125,000 limit).
The threshold increase kicked in on Wednesday and is scheduled to last a full year.
One wonders exactly where anyone can buy much of a house for under £175,000 – especially as first time buyers will be worrying a lot more about where they can get a mortgage in the first place.
What’s more, with the maximum possible stamp duty savings from the measure only £1,750, we’d have to argue that this move is very unlikely to halt the decline in house prices.
September is for Students
THE month or so before the start of the new academic year is when the banks take a break from telling students that they’re irresponsible and trip over each other to persuade them to borrow huge sums of money.
So far Direct Line have announced that they’re good for student insurance, Halifax – incidentally the bank offering the best student account this year - has released figures which show that Scottish students are most likely to have a credit card and The Guardian has been dispelling common student myths such as declaring bankruptcy to escape student loans.
Minimum gets More
HAVING a credit card will get more expensive for Alliance & Leicester customers in October as the minimum monthly repayment rockets to £25.
'From a customer's point of view, the change is a good thing as the more debt they pay off, the better,' claimed a spokesman for MBNA, the company that runs A&L’s credit cards.
This is true, the quicker you pay off the card the less interest can accrue but when things are getting tight it’s good to have a choice.
Currently customers pay the lesser of 3 per cent or £5 plus interest, now they will pay £25 or £5 plus interest, whichever is the greater.
MBNA and Virgin Money credit card holders will be affected next.
 Compare credit cards
And Finally, if you only do one thing this week...
IF that last piece of news doesn’t worry you this week’s ‘and finally…’ is for you.
Gold cards – contrary to popular belief – aren’t made of real gold which tends to weigh down the wallet. You do have to have a good credit rating and salary to get one, though.
In return you get higher credit limits, the ability to withdraw more cash and extras such as purchase protection and travel insurance.
Try the Natwest Gold credit card or RBS gold credit card which both offer 0% on purchases for the first six months.
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