The European Health Insurance Card

The European Health Insurance Card

If you think of going on a trip to Europe, a free European Health Insurance Card should be on your must-bring items. This guide tackles on what they cover and on how you can apply to get one.

What Can EHIC Cover?

European Health Insurance Card is a free card that provides you access to medically essential, state-provided healthcare during a short-lived stay in any of the 27 EU countries, Iceland, Liechtenstein, Norway, Switzerland and the UK, beneath the same circumstances and at the same value as individual protected in that country.

Moreover, the EHIC will not cover you if the principal objective of your travel is to obtain medical care or treatment.

An EHIC includes:

tickAccess to free medical care or reduced medical expenses from state healthcare providers

tickTreatment of any chronic or pre-existin European Health Insurance Cardg medical state during your holiday stay

tickRegular maternity care for as long as you do not stay in the country for the sole purpose of giving birth

tickProvision of routine medical care

What Is NOT Covered By EHIC?

The EHIC does not include coverage on:

tickThe expenses concerning private healthcare which is not related to the state healthcare system

tickThe expense of re-entry in the UK

tickGoing abroad for the sole purpose of giving birth or getting medical treatment or care.

The EHIC is not a replacement of your travel insurance and does not include cover concerning your belongings or properties.

Is the EHIC yet available following ‘Brexit’?

EHIC is currently available following Brexit. Your card will still be valid until at least 31 December 2020, or beyond.

The negotiations may involve having the EHIC or prolonging the current transition period. Furthermore, if the UK continues as part of the EEA, then the EHIC has to be accessible beyond Brexit.

As your EHIC might not be valid from after 31 December 2020, make sure to compare travel insurance that covers healthcare necessities.

How To Apply?

The following are the three ways on how you can apply for an EHIC:

tickComplete the NHS European Health Insurance Card application form online

tickPhone an automated application line on 0300 330 1350

tickSend your finished application form to the NHS Business Services Authority

You are required to give details such as:

tickFull name

tickDate of birth

tickNational Insurance number

You can likewise apply for an EHIC for someone else’s sake for as log as you have the relevant information required. This means you can apply for your spouse and any children under 16 years of age.

Remember: Always apply through the NHS and renew your EHIC card online for up to six months prior to the expiry date, given there are no changes with your details.

If there are changes, or your card has expired, applying for a new EHIC is your option.

Simple Ways To Cut Your Travel Insurance Costs

Simple Ways To Cut Your Travel Insurance Costs

Travel insurance is vital to ensure that you’re protected when you’re overseas. It implies you’ll be able to receive financial assistance when you need it. Also, it is beneficial when you want to safeguard your belongings while on a trip. In this guide, we’ll show you the most efficient ways on how you can cut the costs of your holiday insurance.

Get Travel Insurance Quotes From Several Providers

The most ideal way to find a good policy that suits your needs is by getting travel insurance quotes from several providers and find for the best option.

The cost can differ between different insurance providers, so it pays when you shop around before you get the right policy for you.

Moreover, you should be careful about getting a cheaper deal because it may not give you the cover that you need. Look for the policy that offers the cover you need at a favourable price.

Avoid Travel Agents

The truth is that several of the alternatives offered by the travel agency are more expensive than elsewhere. Never accept the offer without shopping around and comparing travel insurance quotes. It’s always worth looking for a standalone policy before accepting offers right away.

Buy Online

If you need products or services these days, the best way to look for it is going online. By shopping online and comparing deals you can have so vast options to choose from. Check for comparison sites where you can find out all about the various insurance premiums available, the costs associated.

Also, you’ll have a broad selection of policies granted that some of the insurers only operate online. A lot of insurance providers offer discounts ranging from 10% or 20% if you process application online.

Save with Annual Policy

You have to choose between a single trip and annual trip travel insurance policy and determine which one suit your needs. This can help you cut costs since a single trip will only protect you for one holiday.

This means it might save you money if you are covered the whole year under an annual policy if you think of going on a trip several times in a year.

On the contrary, if you’re travelling once or twice a year, then a single trip policy would work on your favour.

Learn more about whether you need a single trip or an annual travel insurance policy through our the guide.

Get What You Need

You can also save costs when you only get the covers that you need. It is crucial that you are fully covered when going on a trip, so you can avoid thousands of bills in case something might go wrong.

You can check to find out if you’re paying extra cover that you don’t actually need. Additional cover such as extreme sports cover might not be suitable as an add on to your cover if you don’t have any plans to do such activities or sports.

Avoid Paying Twice

Check whether you already have a cover as an added feature of your current account or credit card. Make sure to check the policy thoroughly as they may just normally offer a basic level of cover. If you can’t upgrade the policy to accommodate your holiday needs then check whether you can get a separate cover.

There are policies that allow you to remove the extra cover when you are insured by other means. For instance, you can remove personal belongings or baggage cover, if you have home insurance that covers your possessions overseas.

Saving with Family Policy

If you’re going on a travel with your family, it can save you when getting a family cover rather than getting it individually. You can check for family travel insurance that covers everyone. This can be a lot cheaper than getting separate policies for each member of the family.

EHIC Card

You can get a European Health Insurance Card or EHIC that cover some medical expenses in most of Europe. It allows you to access state-provided healthcare when you travel to the European Economic Area (EEA) countries. 

Learn more on how you can  get the best travel insurance here…

Remember: An EHIC is not a replacement for travel insurance. However, you can use with your policy and your provider may waive the remainder for a medical claim if you utilise your card.

To secure complete travel essentials in one place, visit: Our Travel Deals


 

A Simple Guide On Extreme Sports Travel Insurance Cover

A Simple Guide On Extreme Sports Travel Insurance

A conventional insurance policy may just cover low-risk activities, so a venture that includes sky diving or rock climbing, requires a different level of cover under extreme sports insurance.

Extreme Sports Cover Explained

Extreme Sports Cover is a financial safeguard toward injury when participating in extreme sports or activities while abroad.  It is ideal for adrenaline enthusiasts who enjoy the high action sporting activities

Some extreme sports and activities are covered automatically in a normal single trip or annual travel insurance policy. In case it’s not included, you can add them by paying additional fees.

Additionally, travel insurer will impose pricey rates for extreme sports cover due to higher chance of claiming you have a higher chance of claiming.

What Can Extreme Sports Insurance Covers?

tickMedical Expenses –  This embraces the expenses of your medical procedure and treatment at the event of injury.

tickRepatriation – The expenses of your return or re-entry home are covered when it’s medically necessary.

tickPersonal Injury – This reimburses you a lump sum if you undergo permanent disability due to accident that occurs while you’re on holiday.

tickPersonal Liability – This includes you if you harm someone, or lose or break somebody else’s belongings.

This guide explains the coverage of travel insurance policy and lets you shop around for better deals…

Activities Included In Extreme Sports Insurance Cover

This will rely on the type of policy you get. Most policies cover some sports or activities as standard and others are classified as extreme.

Sports That Needs Extra Cover

These sports activities are also referred to as extreme or adventure sports. These activities have a higher risk of accident or injury. This is the reason why you need to pay additional fees id you plan to venture on this during your holiday. Some of these activities are:

tickRock climbing

tickWhite water rafting

tickZorbing

tickQuad biking

tickRock climbing

tickScuba diving

tickWhite water rafting

If you plan to go on a skiing holiday, you should add for a winter sports cover to your existing policy.

Winter Sports Cover

Most travel insurance providers offer the alternative of adding a particular winter sports cover package during your application. This can cover:

Winter Sports

tickskiing

ticksnowboarding

ticksledging

ticksnowblading and 

ticksnowmobiling

Winter Sports Gear

tickaccidental loss

tickdamage or theft, and can include the cost of hiring replacement equipment during your trip

tickCheck your policy for exclusions for details such as you may not be covered if you do not notify the robbery within 24 hours.

Piste closure 

The cover safeguards you if you are incapable to ski for a consecutive duration of more than 12 hours. This can be due to loss of snow or bad climate. It may also include transport expenses when you need to go to a different location to ski.

You may also secure cover for ski pass when you’re incapable to use it because of sickness or injury acquired on your trip, along with an avalanche cover if your holiday is interrupted by an avalanche where you stayed.

Review the exclusions and cover sums thoroughly. Some has extended medical excess for some sports if you’re guided by an instructor.

Activities Covered As Standard

These are activities that are classified as less risky when applying for extreme sports insurance:

tickCycling

tickHill walking on a particular altitude

tickSnorkelling

Some providers exempt personal accident and liability cover for more hazardous activities, like:

tickAbseiling

tickGo karting

tickKite surfing

Remember: Every travel insurance policy differs. Always review if it covers your activity and check for any restrictions in place.

Get The Right Extreme Sports Insurance Cover

Comparing travel insurance is ideal to determine the best policies that can give you cover.

Check each policy to make sure of the coverage. If the ventures aren’t, call the provider and confirm if they can add it individually. Alternatively, you could affix an extreme sports package to the policy when you get a quote. You can compare each policy to determine the best deal for you.

Plan If It Fits to Get Annual Cover

Your annual policy will include any trip you necessitate throughout the policy term. This means you need to ensure if you intend to include activities you might attempt to try. Besides, if you’re not certain of the sports you desire before taking the policy, you can update later, but this can raise the price.

This guide describes how you can keep travel insurance updated.

What Are The Types Of Travel Insurance?

What Are The Types Of Travel Insurance?

If you happen to get sick or have a mishap while in a foreign land, the notes can be enormous, hence it pays to have an insurance policy. Here are the types of travel insurance policy that sets the amount to cover expenses concerning medical expenses, repatriation or stolen and lost belongings. In this guide will focus on the types of travel insurance policy and the factors that affect its price.

Types Of Travel Insurance Policy

Single Trip and Annual Travel Insurance

tickThe single trip cover will cover you for an individual trip to a particular destination for a set period

tickThe annual cover will cover you multiple times within 12 months.

Winter and Extreme Sports Cover

If you are preparing an action-packed holiday, ensure that the activities you desire to undertake are covered. If not, you may be unable to claim if you undergo an injury while on the said sport.

You can learn more details about the extreme activities that you must consider your policy and how to be certain that you are covered.

Backpacker Travel Insurance

This kind of insurance is also recognised as:

tickGap year travel insurance

tickLong stay travel insurance

This is a specialist type of travel insurance that offers coverage for travels that are up to 18 months. This is much longer than a single trip or annual policies. Besides, you can also secure cover for different countries under the same travel insurance policy. This means there’s no need to update your policy or look for a new cover before you set off. 

Check and compare deals on Travel Insurance Policy HERE…

Family Travel Insurance

If you’re initiating off on a journey with your better half and kids, you can save money through a group policy. Most family policies cover two adults and up to four children, although some of which will cover more.

The family cover could provide tremendous coverage for things like cancellation and lost baggage over individual policies. However, there can be restrictions in terms of the number of children that can be covered, if they can include single-parent families, or should the family be living on the same address.

Some providers allow free cover for children, but you must get an individual quote and check on the costs. Also, you can save with a couple’s policy if you’re both over 18 years and residing on the same home address.

Compare travel insurance here…

What affects the price?

The price of your travel insurance will be determined by:

Age

When you’re approaching retirement, the value of travel insurance will be higher. Read our guide to understand how to get affordable cover as an older traveller.

Health

If you have pre-existing conditions you’ll likely to get sick while on holiday travel which could result in expensive medical costs, which can put your price higher

Your Destination

If you are travelling to a dangerous region (an area of civil unrest for example), or somewhere that has expensive healthcare, it will also increase the price you pay.

Trip Duration

The longer you are away, the more expensive your cover will be.

Extra Cover

Upgrading your cover limits or restrictions and adding additional cover such as an extreme or winter sports can make it even more pricey.

Getting Insurance To Ride Your Bike Abroad

Getting Insurance To Ride Your Bike Abroad

Your bike remains protected when you get the appropriate insurance policy for taking your bike overseas.Here is how you can stay covered while enjoying a bike ride on foreign land.

How Can I Insure My Bike If I Take It Overseas?

If you wish to take a holiday trip and take your bicycle abroad, you can get an insurance policy that covers its use abroad. Several bicycle policies cover the usage abroad as standard. This usually offers 60 or 90 days cover around the globe.

On the contrary, check the terms and conditions of your policy and find out whether it’s included or not. If it’s not, you may have to pay extra to get full coverage.

What’s Covered With My Bicycle Insurance Policy?

Travelling in foreign countries is included in a bicycle insurance policy. This means your insurance will be extended when using it overseas. It also follows that you’ll be covered with:

tickTheft

tickAccidental damage

tickVandalism

tickPersonal accidents

tickThird-party liability

tickLoss or damage accessories

tickBike hire replacement

Some of the policies may also offer new for an old replacement when you necessitate claiming for a new bike and as a cover for breakdown and recovery.

There are also extra benefits that come along with some of the bicycle insurance policies. These benefits include:

tickCover when damaged and lost while in transit

tickClaiming into a set amount for a replacement bike hire.

tickCover to transport your bike back onto your home, if you can’t take it due to injury.

However, you must be aware that not all insurer provide similar cover. You have to read on the agreement when getting bike insurance and scrutinize your policy paperwork to find out what is covered and what’s not.

Types Of Bike That Is Covered Abroad

Almost all sorts of bikes will be covered when you travel abroad. Examples are road bikes, electric bikes, or mountain bikes. We also suggest checking the policy terms and conditions before getting bike insurance policy to ensure that all associated costs are covered in case of damage on in case something might go wrong on your trip abroad.

What’s Not Covered In Bike Insurance?

You have to carefully check your terms and conditions when getting bike insurance. This will help you determine which circumstances are excluded. Some of the common exclusions are as follows:

In the event of theft wherein, you failed to secure your bike with an approved lock

tickWhen using your bike for trade or monetary gain

tickDamaged that are results of the general wear and tear

tickDamages caused by competition unless this was included and paid for under your policy

Do I Still Have To Get Travel Insurance?

You need to ensure that you get tailored to fit travel insurance to cover yourself. This could mean being protected financially in case you’re injured or when something went wrong while you’re away.

Moreover, you have to choose the travel insurance that suits your activities and whereabouts overseas. For instance, if you’ve joined biking activities, sports or any others. You will have to pay additional fees to have this covered.

Besides, most travel insurance policies won’t cover your bike; so, you may need to get a bicycle insurance policy along with your travel insurance.

Check and compare for the best offer on travel insurance here…


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Driving Abroad: The Cover You Need For Your Trip

Driving Abroad: The Cover You Need For Your Trip

If you plan of driving overseas to set off, notify your insurance company that you’ll be driving your car overseas to ensure that you get the same level of insurance coverage when driving outside the UK. Here is how you can prepare for the right insurance before taking your vehicle abroad.

Finding The Right Cover For Your Trip

You may need to prepare for your trip in advance if you plan of taking your car abroad. To start, decide whether you prefer taking your car or hiring a car for your trip. You can make a checklist to make sure that you have adequate car insurance an breakdown cover.

Taking Your Car

When you prefer taking your car abroad, you have to check what exactly you’re covered for. You should not assume that you will have the same cover abroad as you have in the UK. Make sure that your policy covers for damage, personal liability, theft and fire. You can upgrade your policy and ensure that you’ll be covered in the destinations you’ll be driving through.

Also, you have to consider these two when you are driving your own car:

tickEuropean car insurance

tickEuropean breakdown cover

Hiring A Car

If you’re renting a vehicle for your trip, you should consider:

tickCar hire excess insurance

Do I Need To Get Car Insurance For Driving Abroad?

You must be fully insured if you’re driving a vehicle regardless of whether you’re driving your own car or renting.

Before Taking Your Car To Drive Overseas

Before you set off and take your car to drive abroad, you must consider:

tickCheck Your Existing Policy

You have to verify with your car insurance company and inform them about your plan of driving abroad. When you plan to drive outside the UK, you can ask your insurer to determine if your destination is covered.

tickChoose The Right Cover

Choosing the right cover for you depends on the legal documents and requirements of the country you’ll be driving in. The same as the UK, you have to have at least third party car insurance to drive a vehicle in most EU countries.

Most policies with European cover will just give you third party cover except when you upgrade and pay extra to get comprehensive insurance. Find out what each cover type protects against here.
You must also check the number of days your policy will cover you. Several insurers offer up to 180 days of European cover a year, but there may be constraints on how long personal trip can last.

tickGetting a Green Card

A Green Card provides the minimum cover that is required by the country of your destination. It is recognized internationally as a certificate of insurance.

Most countries do not ask for this certificate any longer, granted you have your certificate of motor insurance that is already enough to prove you’re covered. However, countries such as Belarus, Morocco, Russia, and Turkey still require a Green Card.

Should you need travel insurance find the best deals here…

Before Hiring A Car To Drive Overseas

When renting a car to drive overseas, your hire agreement will include a basic third party level of insurance, which is a legal requirement for you to hire and drive a car abroad. You can also consider:

tickExtending The Cover

There are some car hire companies that give you the option to extend your standard cover and ensure that it covers for damage, personal liability, theft and fire. You can upgrade your policy and ensure that you’ll be covered in the destinations you’ll be driving through.

tickGetting Excess Insurance:

Getting into an accident due to your own personal liability is not included in your cover; hence, you have to pay the excess amount. This can costs you around £2,000 depending on the car you hire.

The company where you hire the car might offer you excess insurance to make sure that you are covered. This can be costly, so its best to compare policies elsewhere to get a better deal.

Travel Insurance: What Does It Do?

Travel Insurance: What is it and What does it cover?

If you have an unfortunate accident while on a trip, you might be struggling to meet the huge expenses; so, it’s worth to have insurance in place to cover the costs. We’ll show you the basics on how you can get the right travel insurance policy.

What Can Travel Insurance Do?

Travel insurance protects you financially in cases of emergencies or accidents while you’re abroad or in a foreign land.

Whether you’re away for a holiday, a business trip, or any reason to travel, it is an essential factor to make sure you’re covered if in case something goes wrong.

What Does Travel Insurance Cover?

 Following are some of the things that travel insurance can cover:

tickCritically ill while away

tickInjured abroad

tickCancelled holiday plans or was cut short

tickCrime victim while overseas

If an unexpected incident happens and it’s under the coverage of your policies, travel insurance policy can pay out a lump sum up to a fixed amount. This is used to cover expenses like medical bills, repatriation, or if something is lost or stolen.

Medical Expenses

Your travel insurance can cover medical bills in case you are injured or when you get into an accident. The medical costs can include the following:

Emergency Medical Expenses: These are appropriate treatment and services needed cash as surgical and hospital treatment as well as costs for an ambulance.

Re-entry or Repatriation: This will cover your safe return home during an emergency, or if your medical treatment means you cannot use your return ticket.

Accommodation and Travel Expenses: This applies when a close relative or friend has to stay with you if you can’t return as planned. This will be determined if essential.

Emergency Dental Treatment: This is for instant relief of pain only.

If you are going to Europe make sure you get a European Health Insurance Card (EHIC) when you need to get an extra cover.

The Costs:

You can expect for at least £2 million of medical expenses cover. However, several policies can cover up to £10 million. Besides, you can’t claim for medical expenses if you are qualified for free NHS healthcare.

Cutting Short or Cancelling Your Holiday

If an emergency entails the need to cancel your holiday, it might be possible to claim the costs you spent on the trip through your travel insurance policy.

For further information, you can check our guide that explains what is cancellation cover.

The Costs:

You can try to find a policy that will cover your holiday costs. Some can offer up to £10,000. for the coverage of these possible costs.

Personal Belongings and Baggage

This includes the unexpected loss, robbery or damage of your properties, including your luggage. There is a cover limit for each item or the total item.

Single Limit

This represents how much you can claim for a single item such as repair of cameras. For instance, if a single item costs £400, your single item cover might let you get £300. This means you won’t be getting your money back.

Total Claim Limit

This represents the maximum amount you can claim for several items under every single limit. This means if your cover is equivalent to £2,000 cover limit for the total claim, you can only claim up to this combines amount for every single item.

The Costs:

Most policies will give you a ravel insurance offer that covers up to £2,000 for a total claim limit, while single covers are usually £250. However, you can shop around and look for a higher coverage especially, if you think your items are worth more than what is offered.

Additionally, you will be get covered for any lost or stolen belongings. However, most insurance providers established constraints for UK trips. Some of which include:

tickcertain restrictions on the distance, allowing you to claim or be covered if you’re 25 miles away from home.

tickthe length or duration of your trip that has to last the set minimum duration.

Travel Insurance Cover for Delayed Flights

Your travel insurance cover should also include delayed flights for more than 12 hours. Most insurance cover such delays in cases like:

tickStrike or industrial factors

tickWeather conditions causing the delay

tickMechanical malfunction

The Costs:

You can normally get £40 for the first 12 hours, £20 for every 12 hours following, up to a limit of within £200 and £400. This is intended to cover additional expenses due to delayed flights. 

Personal Injury

Your cover includes injury abroad that results in permanent disability. Your insurance provider will be able to pay out when:

tickYou can’t walk due to your disability

tickYour limb(s) are permanent loss

tickYou’ve lost sight in one or both eyes

tickDeath

The coverage also applies when you’ll become disabled within 12 months or 2 years; however, this will depend on your policy.

The Costs:

Most utmost policies will give cover within £15,000 up to £25,000 for injury. The cover for death will customarily be nearby £5,000, but can much lesser if you’re over 65 years.

Compare Holiday Insurance here…


 

Ways On How To Improve Your Credit Score

Ways On How To Improve Your Credit Score

A Credit Report is a review of your financial performance and history. It is what lenders will use to help them determine whether to approve or reject your application for a loan, credit card or mortgage, and other credit or loan.

Improving Your Credit Score

By being diligent with your payments and making sure that you’re protected against fraud, you are assured to improve Credit Score. Here are some tips to assist you to achieve your goal in repairing or rebuilding your credit.

Register On The Electoral Roll

Be certain you are registered at the electoral roll for your present residence, as some lenders or creditors may refuse your application if they can’t verify where you reside.

When you sign up to your Local Electoral Registration Office, you’ll be a registered voter and you’ll have an official record of your residence.

Using Your Credit Card

By paying your credit card balance on time, you can improve your credit rating and build your credit score. It will imply that you are reliable in paying for your debt.

However, you have to avoid credit card charges and avoid securing cash money through your credit card since it’s an expensive way to borrow.

Find the ideal credit card offer here…

Avoid Missing A Repayment

Missing payments on your utility bills, mortgage, or any other forms of debt will be recorded on your credit file. This can have negative feedback on your credit score, so you have to ensure that you budget your income and resources to satisfy your priority bills.

 Check Your Credit Record

You must check your credit report regularly to be certain that all the information posted are up to date. If there are inconsistency or wrong information, you must file a dispute and correct it.

Learn more about your credit records here…

Avoid Payday Loans

If you need to secure cash right away, you should not consider a payday loan. You must explore your options for a much better alternative. Besides, when you apply for a payday loan, your credit score will be hurt once you get accepted. Instead, you can check for other means of borrowing.

Avoid Overdrafts

Most current accounts allow you to go on overdraft. This overdraft can affect your credit score. An authorised overdraft is the absolute amount that you can go on a negative balance. There have charges in using this type unless you ensure paying it off. On the contrary, an unauthorised overdraft is when going on a negative balance without your bank’s approval, this can cost you daily interest that will be visible on your credit record.

If you keep on going over your spending, you need to contact your bank and ask for an authorised overdraft when necessary.

Avoid Applying Several Times

Each time you apply for credit, this will show on your credit record. This is the reason why you need to wait for a few months before trying your luck to reapply.

Moreover, making multiple credit applications imply how much bad you need to secure credit, which can also affect your credit score.

Before you apply for a credit application, it’s always best to check the Eligibility Checker and find out the chances of getting accepted. This way, a soft search review will not affect or harm your credit score.

The Importance Of Credit Record And How To Improve It

The Importance Of Credit Record And How To Improve It

Your credit record is important to determine your creditworthiness and capacity to pay your creditor or lender. Having a negative record on your credit file could make it hard for you to secure for credit or loan. Let us show you the significance of your credit report and on how you can improve it.

What Is A Credit Record?

A credit record contains your financial file or history. It contains information about your debt, arrears, missed payments and the payments you’ve made to your credit or loan.

What Are Posted On My Credit Report?

Yoru credit report implies your ability and attitude towards debt payments. It portrays your financial history that includes the bills you paid on time, the total debt you have and how frequent you applied for a loan or credit. It will show if you have arrears, or when you made partial payments to your debt. Any insolvency record or County Court orders are also listed on your report.

Your personal details are also listed on your credit record. These include:

tickYour current or past home address

tickCredit applications or appeals for a court order

tickCredit review by lenders and creditors

tickFinancial association with anyone such as in joint debt and loans

Your credit record is used by creditors and lenders to evaluate risks in accepting your loan or credit application.

How Is My Credit Record Created

Thre are three main crediting agencies that administer and manages your credit record. These are:

tick(CRA) Experian

tickEquifax

tickTransUnion

Lenders or creditor, as well as banks and utility companies, had to report matters concerning finances on these three agencies. This is the main reason why any arrears on your utilities, or consumer credit debt can affect your credit record.

Should you need to build your credit, check for a CreditBuilder cards here…

Who Can Check My Credit File?

Potential lenders or creditors are likely to perform a credit check when you apply for a loan or credit to decide whether to approved or reject your application. Your credit report implies your ability and capacity to afford your credit or loan. This can help creditors and lender determine the chances of recovering their money back.

Additionally, any negative impact on your credit file, makes it hard for you to obtain credit or loan; but, you can try to pursue qualifying for credit products that are designed for people with bad credit.

When Can Someone Check My Credit?

Someone who needs to review your creditworthiness may resort in checking your credit record. These are your potential lenders or creditors who have to decide whether to accept or decline your application. Their decision will be based on what your credit record implies.

Following are some of the application that requires credit check:

tickCar finance or conditional sale

tickMobile contracts

tickInsurance policies that are paid each month

tickCredit cards

tickMortgages

tickLoans

tickCurrent Accounts

Also, each time a company does a hard credit search, it can show up on your credit history. This can imply to lenders and creditors that you do not have enough money on your account reason why you are desperate to secure funds.

Where to Find My Credit Record

You should check your credit record and review if the data are all accurate. This can be done by checking your credit record with a credit reference agency such as :

tickcheckmyfile

tickClearScore

tickCredit Report

tickEquifax

tickNoddle

These credit reference agencies offer a detailed or comprehensive view of your credit history, known as a statutory report, for a small fee. 

Find out more about how you can improve your credit…

Money Transfer Credit Card: The Benefits That You Can Get

Money Transfer Credit Card: The Benefits That You Can Get

Paying cash straight to your current account can be seamlessly easy through money transfer credit card. Some can even charge you with 0% interest on the cash you transferred for a set period. Read this guide to learn more about how money transfer credit card works.

What Is Money Transfer Credit Card?

A money transfer credit card is a type f credit card that allows you to transfer money straight to your current account. It works the same way as your balance transfer cards. However, instead of transferring the outstanding balance between credit cards, the transfer goes to your bank account.

How Does It Work?

If you have a money transfer credit card, you’ll have the liberty to transfer cash from your credit card to your current account. The costs for processing the transfer is paid over an agreed period, which could be more than two years.

This process works like an interest-free cash loan using a money transfer credit card. You also have to pay for the money transfer transaction which is known as the money transfer fee.

What Are The Benefits Of Money Transfer Credit Card?

Money transfer credit cards are useful in paying off your overdrafts or loan due to its 0% interest over a fixed period. This means if you’re working out on how you can settle your overdrafts, this type of credit card will work on your favour.

Besides, you can also use it in paying for large purchases that you can’t place in your credit card.

You can get more details about a 0% money transfer card here…

How Can I Find A Money Transfer Card?

A standard credit card does not allow you to transfer money to your bank account unless it’s a special money transfer cards. Also, standard credit cards will charge you with sky-high interest when paying it off. Unlike a 0% money transfer card, you don’t have to pay for interest over a set period.

Find your money transfer credit card here…

How Much Does A 0% Transfer Card Cost?

You do not have to pay interest on a 0% transfer card unless when the period ends and your outstanding balance remains unsettled. However, you have to pay for fees in processing the transaction to transfer the money to your bank account. This can cost approximately 2%-4% of the amount you initiated to transfer.

For instance, if the transfer fee costs 3% on a £2,000 transfer, it will cost you £60. If the interest -free period is adequate for you to pay off the entire amount, you could possibly get a lesser fee on these charges.

Keep in mind that a money transfer credit card is a type of credit card; hence, they can have similar charges as well. We’ve created a guide for you to help you understand credit card charges even more.

Is Money Transferred Credit Card Right For Me?

Should it crossed your mind to consider getting this type of card, you must try to weigh your options and determine if it suits you best.

To help you decide whether it fits you, scrutinize the following factors when comparing money transfer credit card:

tickInterest Free Period

Check on the length of interest-free period and try to compare which one gives you more time to pay off your balance. You have to ensure that you can afford paying for the amount before the agreed 0% period ends.

tickMoney Transfer Fee

You should consider checking the fees for transferring money to your bank account. The usual fees tat you ca get ranges between 2% to 4% of the amount transferred.

tickTime Frame For Transfers

Several money transfers necessitate you to make a transfer within 60 days of the receipt of the card. If you failed to comply, you could be at risks of losing the 0% introductory rates.

tickFees or Charges

When choosing the right card, you have to consider confirming the fees for transactions and terms. This include charges for transactions outside the UK. You can check on the charges for exceeding credit limit, or fees for foreign usage.


FAQs:

How long will the transfer take?

The duration of when the funds are transferred will depend on the provider. Some providers initiate an instant transfer while others will take a few days.

Does my credit rating matter?

Lenders or creditors are to conduct a credit check to decide whether to approved or decline your application. They’ll assess your credit limit based on your creditworthiness as well.

Is withdrawing it in cash much better?

You should not withdraw cash by credit card since this can cost a lot. Check our guide on credit card charges.

Is there a limit for my transfer?

Yes, most providers allow you around 60 days from the date you receive the card to set up the money transfer.