Balance Transfer. The credit card market-place is highly competitive. You may well find cards in the market that offer rates that are significantly lower than your existing credit card. Indeed, there are several credit cards available that promote interest free periods as introductory offers.

Bank interest rates vary according to a number of reasons. Banks change the rates of interest they offer to customers for two basic reasons. When the Bank of England's Monetary Policy Committee changes base rate, bank interest rates will usually, though not always, be changed to reflect the increase or decrease in base rate. However, bank interest rates, because they reflect the products that the banks are trying to market to consumers, may also be changed to reflect the product mix that a particular bank is trying to promote.

Car purchase. When you buy a car, you can pay for it in one of several ways: Pay cash - the best and 'cleanest' option. Not only will you be avoiding added debt, you'll be in the best position to negotiate a discount. Hire Purchase (HP) - you pay a deposit, perhaps between 10% and 40% and then pay off the debt plus interest in (usually monthly or quarterly) instalments. The asset (car) is not legally yours until the last payment is made. HP is sometimes called 'conditional sale'. Bank loan - you arrange a personal loan from a bank/ building society or other lender and use it to pay for the purchase. Unlike HP, from 'day one' the asset is yours. From then on, you just need to clear the loan making repayments and interest regularly (usually monthly or quarterly). Unlike HP, you don't need a deposit.

Cashback credit cards offer a straightforward cash reward for using them. These loyalty schemes return a percentage of your spending to you in the form of a cash rebate. The exact percentage on offer varies and most cash back credit cards tempt potential users with an introductory period offering a higher percentage return.

Cash cards are plastic cards, issued typically by banks and building societies and used for withdrawing cash from Automatic Teller Machines (ATMs) - also known as hole in the wall machines.

Cash machines are often referred to as 'cash dispensers' or 'hole in the wall machines'. Cash machines are a cross between a cash till and a computer, which enable users to access their bank accounts and carry out transactions such as withdrawing cash.

A Charge Card is your not-so-flexible friend! A Charge Card may look like a creditcard , feel like a credit card and you can spend money with it like a credit card. But, unlike a credit card, the day of reckoning comes each month.

Charity credit cards are simply ordinary credit cards that promote a particular set of causes or one cause. Together with similar cards , they are known as affinity cards. What this means is that a set donation will be made to the charity or charities when you are issued with the card and for every transaction you make on the card a small percentage donation will also go to the charity. In theory it costs you nothing to raise money in this way to support the charity of your choice. Youll see promotional material claiming that charity credit cards allow you to carry a card that shows you really care and that you can make a difference every time you spend money with the card.

CIFAS is a system developed in consultation with the Office of Fair Trading and the Office of the Information Commissioner. It aims to detect and prevent fraud and so protect innocent people whose names, addresses or other details are used fraudulently by others in order to get credit. A CIFAS warning on your file does not mean you are being accused of fraud.

The Consumer Credit Act (CCA) of 1974 applies to most businesses that lend money to consumers or offer goods and services. The Act requires that these businesses obtain a consumer credit license from the Office of Fair Trading (OFT) .