Get a better deal with Moneywise Compare & Buy
At Moneywise, we aim to bring you the best impartial news and advice about personal finance, from savings accounts and mortgages, to insurance products and pensions, and all our editorial is completely independent and free of bias.
However, we also want to provide you with a range of tools and services that not only improve your access to great financial products but also potentially save you money.
Our range of interactive Compare and Buy tools enable you to search for the most competitive products that are tailored to meet your requirements. We recently relaunched our savings finder to include fixed-rate bonds as well as instant access deals.
And our cash ISA, credit card and personal loans tools have been given a polish as well to make it easier and quicker for you to find the best deals available, with all their relevant information accessible in a clear and easy-to-understand way.
So, if you think you might be paying too much for your loan, credit card – or want to boost your returns by finding a better paying savings account or cash ISA – then check out Moneywise’s new and improved Compare and Buy service.
Invidivual Savings Accounts were introduced on 6 April 1999 to replace personal equity plans (PEPs) and tax-exempt special savings accounts (TESSAs) with one plan that covered both stockmarket and savings products, the returns from which are tax-exempt. The ISA is not in itself an investment product. Rather, it’s a tax-free “wrapper” in which you place investments and savings up to a specified annual allowance where the returns (capital growth, dividends, interest) are tax-exempt (you don’t have to declare ISAs and their contents on your tax return). However, any dividends are taxed within the investment, and that can’t be reclaimed.
Used by the holder to buy goods and services, credit cards also have a monthly or annual spending limit, which may be raised or lowered depending on the creditworthiness of the cardholder. But unlike charge cards, borrowers aren’t forced to pay the balance off in full every month and, as long as they make a stated minimum payment, can carry a balance from one month to the next, generating compound interest. As the issuing company is effectively giving you a short-term loan, most credit cards have variable and relatively high interest rates. Allowing the interest to compound for too long may result in dire financial straits.