These days, having a less than perfect credit record or an irregular income, shouldn't stop you from taking out a mortgage or getting access to other borrowing. If this were the case, a quarter of the UK poulation would be refused credit according to recent research, so it's not a problem confined to the minority.

If you are thinking of using a loan to consolidate credit card debt, you need to think carefully about how you have built your credit card debt up and how you are likely to spend money in the future. It is a fact that many people who take out a credit card debt consolidation loan end up further in debt in a few short years rather than getting out of debt.

Your credit card can be a powerful tool to help with your debt management. Credit card debt management means you should seek out a long-term low interest rate credit card to allow you to pay down debt that costs you less overall. Do remember NOT to keep on spending, however. Alternatively you could create a breathing space for yourself by opting for a credit card with a long 0% introductory offer on a balance transfer, to cut your outgoings down in the short term. You may also want to consider clearing your credit card completely by using a personal loan to restructure your debt.

Credit card fraud cost the banking industry £504.8 million in 2004 but the introduction of chip & PIN knocked that figure sharply lower in 2005. While the ultimate financial cost of credit card fraud is usually carried by the banks, the impact on you in time, inconvenience and frustration can be considerable. There are different types of credit card fraud:

When you take out a credit card , or loan of any kind, you will normally be offered Payment Protection Insurance ( PPI ). This credit card protection will pay your debt if your circumstances change and you are unable to repay it. For example, it could come in handy if you are made redundant, suffer a serious illness or an accident. But compare conditions carefully when taking out a policy, to make sure you understand the clauses and that they suit your circumstances. For example, the self-employed are typically excluded.

You may think credit card reward schemes are a great idea, a way of getting something extra while youre using your credit card. On the other hand you may think credit card reward schemes are an insidious way of trying to persuade us to spend more on our plastic. Theres perhaps a grain of truth in both arguments.

Credit cards, perhaps the symbol of consumer freedom, allow you to spend whenever you want regardless of what's in your bank account. Credit cards are issued by all the major banks and many other companies, including newspapers, charities and clubs. They provide flexibility and convenience, especially when you are away from home.

When you first receive your credit card, your card issuer will have set you a credit limit. This is the maximum amount you are allowed to spend on the credit card. Remember, this is a limit not a target! The credit limit is determined by the information supplied on your application form and its own credit scoring process. The card issuer will, as a matter of course, have checked out your credit record with a credit reference agency.

Credit scoring is a system employed by lenders to calculate the statistical probability that a loan they grant to you will be repaid. Different lenders have slightly different rules for assessing risk. Each lender works out the characteristics of 'good' and 'bad' customers, based on their past experience and credit score.

Do you understanding exactly how the 2 cycle average daily balance method of calculating balance works? Most people don't and just look at the apr when they are trying to choose a low apr credit card. However, the method of calculating your monthly balances is one of the fineprints you have to look out for in the terms and conditions of a credit card.