Sainsbury’s increases interest free period on credit cards
October 5, 2007 by admin
Filed under News, News-Credit-Cards
The supermarket giant Sainsbury’s has been offering a range of financial products and services over the years, including some very competitive deals on credit cards.
According to recent reports the retail giant has now announced that its credit cards – which already offered an attractive ten months interest free credit on purchases – will now be offering an increased interest free period of twelve months, which is likely to attract increased custom as well as placing the cards amongst the top of the best buy tables.
Officials from Moneyfacts have stated that the cards are all the more attractive because they also offer a low rate life of balance transfer facility, so in addition to enjoy twelve months of interest free credit on purchases customers can also transfer costly existing credit card balances and enjoy a low rate of interest for the life of the transferred balance – the rate currently stands at 5.94%. The standard variable rate on the credit cards is 15.9%.
One official from Moneyfacts stated: “The standard and platinum deals were already competitive, but extending its offer to 12 months pushes its standard card to hold joint top position of the moneyfacts’ best buys, along with Halifax and HSBC, with all three offering a standard revert to rate of 15.9% APR. The Platinum card offer is market leading, with the next best interest free offer at 11 months. These cards also come with the added benefit of a lifetime balance transfer deal at 5.94% pa, which in today’s market is a pretty competitive. Combined with the 0% offer, these deals are a very attractive overall package.”
She added that the Sainsbury’s credit cards were now looked upon as a five star deal, as they offered savings on both transferred balanced and purchases, making them great value and convenient.
Tom Smith
5th September 2007
Smokers lose money on insurance premiums
July 5, 2007 by admin
Filed under News, News-Insurance
Most smokers realize that by kicking the habit they could save a fortune each year, with many smokers spending thousands of pounds each year on cigarettes.
However, many forget that in addition to saving money on the cost of cigarettes, which can then be used for anything from luxury holidays to investments for the future, they can also save money in areas, one of which is insurance.
There are many different types of insurance cover, and the main ones on which smokers can save money include medical or health insurance cover, life insurance cover, and home insurance cover.
Smokers are classed as an increased risk when it comes to these types of insurance cover, and as a result of this increased risk most smokers pay considerably larger premiums than non-smokers, which adds to the overall cost of being a smoker.
When it comes to medical and health insurance, smokers are more likely to make a claim because of the health risks and illnesses associated with smoking, and therefore have to pay higher premiums. With life insurance, smokers are more likely to contract a terminal illness such as cancer due to smoking, and again as a result of this the cost of premiums are pushed up.
And in terms of home insurance, smokers are classed as an increased risk when it comes to fires in the home, and this also pushes up the cost of insurance premiums.
It is also thought that the number of people in the UK smoking in their homes, and therefore being classed as an increased fire risk, will increase, as the smoking ban in public places has now come into force in the UK.
Although many smokers now aim to give up altogether, which could boost their finances in many areas, many others will resort to staying in and smoking in the home rather than going out to pubs and clubs where they can no longer smoke.
Tom Smith
5th July 2007
