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There are
many deals available at the moment to try and get you to switch
your credit card. If you’re careful you can make a big
saving by switching. We explain the different deals and explain
how they work. Before we do that it is worth explaining how
credit card companies make money.
 Credit
card companies make money from two sources. Firstly, the charge
the shops that you use your credit card in (also known as Merchants)
and secondly they charge you interest on any money you don’t
repay at the end of the interest free period. As such, credit
card companies make more money from customers who keep a balance
on their cards (i.e. do not pay it off each month).
Lets consider
some of the deals available on credit cards and explain who
you can use them to save the most money and how to avoid getting
caught out.
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