No one can deny that 2011 was, in many respects, one the toughest ever years financially for people, businesses, and governments around the world. However, it also saw consumers benefit from some of the longest interest free balance transfer periods on credit cards ever seen, the new Consumer Credit Directive change the balance of payments hierarchy for everyone benefit. So given the mix of tasty fruit and banana skins 2011 offered we thought we’d look into our crystal ball to give our view as to what 2012 might hold for UK personal finance.

Double Dip Recession?
The main thing everyone wants to know is whether the UK will slip back into another recession and there are as many answers are there are experts on the subject. Our answer is, “possibly” – although don’t quote us on that! Yes, you want more information than that but it’s impossible to give a definite answer. Some analysts are predicting that whilst the Eurozone may end up in recession, the UK could come out of it relatively unscathed. Whereas others believe that the UK will be just as badly affected, as things will get worse before they get better, with the second dip being even tougher than the first in 2008.

Either way UK personal finances are more likely to be affected this year by Government cuts and public sector job losses. The private sector is not in a position to pick up the pieces and even if it were it would be questionable whether private sector wages would match Inflation, which rose to a record high towards the end of 2011. Although it is thought that this will decrease throughout 2012 it will continue to put pressure on households to tighten their belts and get more finance savvy.

Personal Debt
The total UK personal debt decreased by 0.02% to £1451bn from October 2010 to October 2011 and the average household debt decreasing by just less than 7% to £7,984 (excluding mortgages). The average consumer borrowing on credit cards and other forms of unsecured finance also decreased, down to £4,226 per average UK adult. Despite this slight decline in the amount owed by UK consumers, the Office for Budget Responsibility (OBR) still predicts that household debt will increase to £1823bn by end of 2015, and £2045bn by Q1 2017.

These statistics from Credit Action coupled with the fact that three in ten of us decided to go overboard and plunge into debt for Christmas and New Year, make it look likely that personal debt will deepen further into 2012. Research has shown that it takes most of us around six months to pay off Christmas debt, with 8% of us still struggling with it 12 months later. So, it looks like 2012 will be just as tough on our wallets as last year. Ouch!

The Housing Market
The figures published at the end of 2011 suggested that house prices were on the rise as did the gross mortgage lending reported by the Council of Mortgage Lenders (CML). The CML went on to say that it did not know what to expect for the remainder of 2012 as economic uncertainty was expected to widen. However, there is some good news for mortgage holders though as the Bank of England base rate is expected to remain at 0.5%.

Savings & Investments
If predictions are correct and the Bank of England base rate does stay at its record low for some time, savers could struggle to see the benefit. On the plus side inflation is expected to fall, which is good news as the value of your savings should at least stay intact. Due to the poor savings climate it is more important than ever that you take full advantage of your ISA allowance.

Finance Bill 2012
One of the most important things on the 2012 agenda for personal finance is the Finance Bill 2012. The draft legislation for consultation was released by the Government in December, and is expected to be published after the Spring 2012 Budget in March.

There are a number of changes on personal tax, corporate tax, and charities included in the Finance Bill 2012, a summary of the draft legislation is below.

Personal Tax
• Income tax thresholds and rates will be updated
• Details of the 50% tax relief scheme for SMEs (Seed Enterprise Investment Scheme) will be unveiled
• Statutory resistance test delayed until 2013
• Inheritance tax nil band and capital gains tax exempt amount to increase with RPI from 2015/16 and 2013 respectively

Corporate Tax
• Main corporation tax rate to reduce to 24% in 2013
• Improvements to Research & Development tax relief for SMEs
• Easing of conditions relating to real estate investment trust
• Bank Levy to increase to 0.088% from January 2012
• Changes to UK accounting practice

Charities
• Tax liability reduction
• Rate of inheritance tax to decrease to 36% when 10% of an estate is left to charity
• Withdrawal of Self Assessment Donate Scheme in April 2012.

What can I do?
With all the uncertainty it is tempting to simply shrug our shoulders and say, “…it’s out of my hands.” but that’s not the case. Worry about your little bit. If you can get you finances ship shape when everyone else is struggling there will be opportunities. Perhaps a bigger house, cheaper stocks & shares, bargains in the shops, but you’ll need to be in control of your finances to take advantage – Anything else is simply an illusion.

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With Christmas just a couple of months away, many of us will be thinking about applying for a new credit card, or using an existing one, to help us manage the cost of buying presents, food and other festive essentials. Credit cards with introductory offers, such as 0% interest on purchases, are a great tool you can use to help ease the high cost of Christmas, but they are not the only tool that can help you with money management during the holiday season.

Prepaid cards are a great alternative to the plastic already filling our wallets. These cards offer guaranteed acceptance because they don’t come with credit facilities, making them ideal for people with a poor credit history. They can also help you to budget because you can never spend more money than you have loaded on to the card, so you do not end up paying for this year’s Christmas next year.

Another use for these cards is as Christmas prepaid gift cards. While you could simply slip some money or a gift voucher into someone’s Christmas card, why not give them a prepaid gift card instead so that they can use your present in all stores (worldwide) or for online shopping? Plus, not only will you be giving them the money on the card, you will also be giving them the card itself, which they can continue to use throughout the year to shop online and help them budget. This is especially beneficial for younger kids who are currently reliant on borrowing their parents’ debit or credit cards so they can shop online to get the best deals.

If you decide to give a prepaid card as a gift you will need to check whether the card you choose has a monthly fee because you (or the recipient) may not want to be paying this fee in future months.

How to apply for a prepaid card

It’s incredibly easy to apply for a prepaid card online and you can usually start using the card within 7-10 working days, once your card has been made and sent to you in the post. If you want the card in time for Christmas, either to use for your own Christmas shopping or to give away as a gift, here is a guide to the application deadlines you will need to work to.

These dates are provided by Compareandsave.com as a guide only and are based on the application running smoothly. If demand is unusually high or if there are delays with the postal system, it may take longer for you to receive your prepaid card.

Budgeting for Christmas

According to research from R3, the insolvency trade body, conducted at the start of December 2010, more than five million people had already taken on debt to pay for Christmas 2010, an increase of nearly 50% on the previous year. It was also found that more than one million people believe it will take them more than six months to pay off their Christmas debt.

Whether we admit it or not, we all go overboard at Christmas sometimes, especially when we see the ‘perfect gift’ and we have a credit card burning a hole in our pocket. Prepaid cards can help us limit our spending and prevent a post-Christmas debt hangover.

Prepaid card charges

Prepaid cards do incur charges but these will vary significantly between cards so it is important to look out for them when you compare prepaid cards.

The most common charges found with prepaid cards are:

• Application or set up fees: these usually range from £5-£10, although you can get some cards for free, and are payable upon application
• Monthly fees: these are    sometimes applied in place of the individual fees for reloading and withdrawing cash and can vary in price
• Reload fees: there may be a small fee applied when the user reloads the card, but there is often a free method of topping up the card
• ATM cash withdrawal fees: this charge is either a flat fee of around £1.50 or a percentage of the value withdrawn
• Transaction fee: this fee usually only applies when the card is used abroad but it is an important one to check if you think you, or the recipient, will use the card abroad.

These charges often put people off when they look to apply for a prepaid card but it is important to remember that the alternative could potentially see you paying high interest charges on a credit card, especially if you have trouble with money discipline and budgeting. It could be argued that the fee is a small price to pay to prevent unmanageable debts next year. Also, if the card is a gift, you could imagine that the recipient will save a lot more than the fees by using the card to buy things online at a cheaper price than available on the high street.

There is still time to apply

It’s not too late to change your mind and start using a prepaid card this year. In general, you don’t need to apply for a prepaid card until 7-10 working days prior to the date you require it, but this can differ between providers.

The table above should provide you with a guide as to when you should apply for prepaid cards if you want to be able to use them for your Christmas shopping, or to give to friends and family as Christmas prepaid gift cards.

Remember that external factors such as peaks in demand or delays in the postal system could cause your prepaid card to arrive late. To ensure that you receive your card in time and prevent disappointment, order it as early as possible.

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Let’s face it, Christmas can be an incredibly expensive time, and often a time that our wage packets are unable to handle. In order to prepare for your purchases over the holiday period, you might be looking to apply for a credit card.

Everyone enjoys doing their Christmas shopping in their own way; you could be incredibly organised and have everything bought and wrapped by November, but most of us do it in early December, and inevitably leave some of it until the last minute.

However, with just 35 days  until Christmas Day, you will need to start thinking about applying for your new credit card so that it arrives in time for you to use it for your Christmas shopping.

Of course, there are several different types of credit card available and some take longer than others to arrive due to the way the card application process is handled.

Some credit cards are what’s known as ‘instant decision credit cards’ and they pretty much do what they say on the tin – you apply for the card online and the credit card company comes back to you with its decision within a couple of minutes, unless they need more information from you in order to make the final decision.

Cards that don’t offer an instant decision can take around 7 calendar days to get a decision to you.

Either way, you will still need to sign a credit agreement (some issuers allow you to do this online using a digital credit agreement), and wait for the card and PIN to arrive in the post so it is important that you apply now.

Here are the application deadlines for our top eight Christmas credit cards and have been calculated on the basis that you wish to receive your cards by 5th December, for those organised Christmas shoppers or 18th December 2011, for those who like to leave their festive shopping until the last minute.

It is important that you compare the credit cards available to you before applying to make sure that you choose the one most suitable for your needs (you should only make one application for credit at a time or it will make you look like you are desperate for credit and put off prospective lenders). To ensure that you receive your Christmas credit card in time for you carry out your festive shopping you should apply in plenty of time and account for any potential problems with the application.

Types of credit cards

The way in which you plan to use your Christmas credit card, combined with your credit rating, will affect the credit card you should apply for. Listed below are definitions of the different types of credit cards:

Instant decision

Instant decision credit cards provide many applicants with the result of their application within 60 seconds online. However, these results are not always instant if you do not meet exact criteria. If it is harder for the lender to judge your application, this decision will be delayed. These can be ideal for last minute Christmas shoppers as they are more likely to arrive in the nick of time.

0% purchases

Many credit cards offer customers introductory offers and deals to persuade them to take out their credit card. One of the most common deals for new customers is 0% interest on purchases for a fixed period of time. This is an excellent Christmas credit card because it allows consumers to buy all their festive gifts without having to pay high interest payments too.

0% Balance transfer

This type of credit card is designed to help consumers reduce the cost of their outstanding debt, as they can transfer high interest balances to a cheaper card. This card should not really be used for additional borrowing, but reducing the cost of existing debts. If you are looking for a card to do Christmas shopping a 0% purchases card may be more appropriate.

If you are looking to transfer a balance from another card because your last 0% balance transfer (BT) offer has run out and you need a 0% purchase deal for this year’s Christmas shopping, you can get cards that offer both a 0% BT and 0% purchase interest free period.

Credit-builder

If you don’t have a good or excellent credit rating, you might struggle to get accepted for a standard card. Credit building credit cards are designed to help consumers improve their credit score and their ability to access more affordable credit in the future. This credit card should not really be used to borrow money – you should really just use the card to pay for things and then pay the bill off in full each month to demonstrate to future lenders that you can manage credit sensibly. If you don’t pay your bill off in full each month, you will have to pay high interest charges because the interest rates on cards for building credit are higher than standard cards.

Rewards

These cards reward their customers for spending on their credit cards. Benefits can range from air miles to High Street gift vouchers. The interest rates are usually higher on reward credit cards due to the value of the benefits cardholders can receive. Rewards credit cards are best suited to people who use their credit cards regularly but always pay off the full balance every month. If the balance isn’t paid off in full each month, the interest charged will outweigh the rewards earned.

Christmas credit card tips

• If you have opted for a 0% purchases credit card, make sure you have the ability to repay the outstanding balance before the introductory period expires or you will face interest charges on your remaining balance once the 0% period ends
• Using credit cards for purchases of between £100 and £30,000 will protect you under Section 75 of the Consumer Credit Act, meaning that if a company fails to deliver your items (if it scam you or if it goes bust) you can claim your money back from your credit card company
• Compare credit cards to make sure you are getting the best deal.

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I know I can’t believe I’ve brought up Christmas and it’s only October, but when we spend millions on gifts every single year, preparation is key. The effects of the difficult financial climate and the squeeze on the government’s purse are starting to take their toll as 39% of people plan to spend less money this Christmas.

In addition, figures from ICM Research suggest that more people are shopping online, with 73% of people claiming that they will buy the same amount or more online than they did last Christmas. A possible cause could be that the threat of bad winter weather has forced us online and away from the high street but it is more likely to be because there are significant savings to be made on the web.

This increase in online shopping means that more people are turning to plastic to pay for their goods. Therefore, consumers need to be wary and prepared because too much spending on credit cards can easily turn into a post-Christmas debt hangover.

Prepaid cards are the ideal alternative form of plastic because they can help keep you within your Christmas budget and avoid credit card debts. While it’s not a bad idea to shop with credit cards, particularly if you have plans to earn rewards and pay off the full outstanding balance immediately, this can easily turn into a bad habit, which will ultimately lead to bad debt, if you don’t have the necessary discipline.

The prepaid card market has expanded considerably in recent years and there is now a multitude of cards available all of which come with different advantages and disadvantages. The main two ways that a prepaid card could help at Christmas are with budgeting and online shopping.

Online Christmas shopping

As we have seen in the research from ICM, the number of people who are shopping online is on the rise, and is thought to continue to rise for the foreseeable future as we turn into an internet-addicted generation.

Prepaid cards are not usually linked to personal information or a bank account which means that people with no access to bank accounts or those that have bad credit are still able to shop online. Usually if you don’t have a debit or credit card you are restricted to physically paying with cash at the store, especially as the number of outlets accepting cheques is also diminishing.

Although there are no credit facilities with a prepaid card and all the available funds are pre-loaded, it opens up a new avenue for people wanting to shop online because prepaid cards are issued by companies such as MasterCard and Visa, which means they are accepted on the same sites as most debit and credit cards.

Budgeting Christmas spending

Budgeting is essential for the Christmas period; stocking fillers, selection boxes, the turkey, travel costs, decorations, gifts, cards, parties and everything else all add up.

Prepaid cards can benefit all Christmas shoppers, and not only those that choose to shop online, because they can help everyone budget for their Christmas spends. Prepaid card users can keep track of the money they are spending by using an online service provided by the card issuer, similar to an online bank statement.

Parents will be feeling the increasing financial pressures as kids expectations get higher and the cost of living increases, so how can prepaid cards help? If money is tight this Christmas, work out your spending budget, load it on to the card to make your purchases and get yourself into the mindset that once the money on the card is gone, there’s no more to spend. In a way it is similar to paying for your credit card before you even use it. Once you have spent the loaded funds, you can easily reload the card online, by mobile phone, in-store or over the phone, should you discover that you have a bit of extra money to spend (you could free up some extra cash between now and Christmas by trying to cut your household bills, for example by switching gas and electric providers).

Prepare for next Christmas

If you are extremely organised and have already sorted this Christmas, it’s not too early to start thinking about the next one. By setting aside a certain amount of your wages each month and loading it on to your prepaid card, you could have a large chunk of your budget ready for spending on the card by the time we get to October or November 2012

Prepaid cards are not the only way to budget for Christmas but they can avoid a debt hangover in the early New Year. Avoid struggling with mounting debt in January by using prepaid cards to budget for Christmas.

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With tough financial times both behind us and ahead, many people are dreading the thought of Christmas rather than relishing in the warm spirit that the holiday season brings. This year has seen some of the harshest government cuts since Margaret Thatcher was in power. Meanwhile, petrol and diesel prices are sticking at record highs, energy suppliers have hiked gas and electricity prices by an average of 19%, and there have been warnings that inflation rates could increase even further.

How will all of this impact on our Christmas spending? Will people be more inclined to tighten up their purse strings to avoid causing themselves more financial difficulty?

Christmas spending

Christmas is an expensive time of the year, and it’s not just the gifts that are costing us money; we spend a small fortune every year on the Christmas dinner, decorations, parties, going out, clothes, travelling to see family, and much more.

Research by The Co-Operative Bank found that in efforts to cut back on spending in 2011, 53% of people are no longer going out, with 14% opting to attend house parties instead, while 57% have stopped eating out. Will these habits continue through the Christmas period?

In 2008, GfK NOP established that 38% of people were going to fund their Christmas spending with credit, with another 19% using savings. The research revealed that only 65% of consumers would actually fund Christmas with their normal income. Will Brits be doing the same for Christmas 2011?

With every penny being squeezed further, UK consumers have 2% less disposable income available these days to spend on Christmas. Without having the cash in their bank accounts will consumers turn to spending on plastic instead?

December spending down

Figures from the UK Cards Association suggest that British consumers are actually wary about building up too much debt as the number of purchases and the value of spending has actually decreased every year since 2008. Credit card spending was at £11.3bn in December 2007 but last Christmas was down by 8%* to £10.4bn. In stark contrast, the amount spent on debit cards has actually increased by 18.2% (£3.8bn) over the past four years from £20.9bn in 2007 to £24.7bn in 2010.

Mark Bowerman, a spokesperson for the UK Cards Association, said: “Given the continuing economic downturn we do not expect to see an increase in the use of credit cards this December and the trend has been for people to do their spending on their debit cards rather than their credit cards.”

ICM Research found that 39% of people stated that they would be spending less money on Christmas this year than in 2010, something which was far truer for older people than younger age groups. This research, along with analysis from the UK Card Association, would suggest that more people are cutting back on their Christmas spending this year and only spending the money they have, rather than turning to alternative forms of credit.

Credit cards could help

Spending on credit cards is not as bad as some people fear, but you do have to be disciplined and stick to a budget. Most credit cards offer a grace period between the point of sale and the time you are required to start paying interest on the balance. If you pay off the balance in full before this time is up, you will not be charged any interest.

This could prove to be particularly useful if you use a rewards credit card; these cards offer rewards in return for spending on the credit card. The rewards can vary but you will typically see cashback, gift vouchers and airmiles as some of the rewards offered.

To make the most of a rewards credit card you will need to use it wisely throughout the year. By this I mean that you would need to get in the habit of using it to pay for things you would have ordinarily paid for using your debit card or cash (but only spending the money you know you have and stashing the cash to cover the cost of what you paid for on your card in a savings account), earning the rewards as you go. Then, the most important step is to make sure you pay off the full outstanding balance each month, with the money you stashed, before you are charged interest. When you claim your rewards you could either use them as Christmas gifts, or redeem them against your own Christmas shopping.

Plus, you will earn interest on the money you stash in your savings account and get a tick on your credit report each time you make your monthly credit card payment by the due date.

Alternative ways to spend

Debit cards and credit cards are not the only way to spend this Christmas; prepaid cards are an excellent alternative for consumers looking for a way to budget. Prepaid cards are similar to pay as you go mobile phone in the sense that unless funds have been loaded it cannot be used. This means that cardholders can load their pre-budgeted amount on to the card and hit the High Street without any concerns of over-spending, emptying their bank account or getting an unwanted credit card bill.

Consumers backing away from credit

It seems that Brits are doing everything they can to avoid having huge outstanding balances on credit cards in the New Year by using money they have available rather than seeking other forms of finance. It is predicted that credit cards will be used less again this Christmas as the continued difficult economic climate makes it difficult for consumers to access credit and make the repayments. This is a change in direction from three years ago when four in ten consumers used credit for splashing out at Christmas.

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Do you plan to make a late New Year’s Resolution?

According to a survey published in the Daily Telegraph in 2008, four in ten of us planned to make New Year’s Resolutions in 2009. And, among these, sixty per cent intended making a resolution relating to their finances, with 48 per cent planning to get out of debt or reduce the cost of their borrowings.

The New Year is a great time to finally organise your finances and to shop around for a better deal.

Spring clean your finances

It’s not unusual to start the New Year in debt. A recent survey from ING Direct found that the average cost of Christmas in Britain was £490 with the average person ending up £380 in debt after the festive season.

So, if you have credit cards, expensive unsecured loans or other hire purchase or finance, it is worth considering consolidating your debts and paying less interest.

Search for the lowest loan rates

Credit card interest can be as high as 15 to 20 per cent while many unsecured loans and hire purchase schemes also charge a high interest rate. However, there are dozens of unsecured loans on the market which charge low rates of interest, potentially saving you hundreds of pounds.

The best place to find the lowest loan rates is on the internet. Many websites allow you to compare personal loans in order to find the best deal for you.

Simplify your finances and reduce your money stress

Another great reason to consider consolidating your various unsecured debts into one personal loan is to simplify your finances. Rather than having lots of small debts, which you have to manage every month, you can simply take one larger loan and repay all of your other borrowings.

You will end up with one creditor, one direct debit and one loan. This will save you an awful lot of time compared to managing lots of small credit cards and unsecured loans.

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How much did you spend at Christmas? And how much of that was on your credit card?

Recent research from ING Direct found that, in 2009, the average person ended up £380 in debt covering the cost of the festive season. Brits spent an average of £490 over the holidays and it took them, on average, eight weeks to pay off the debt.

However, half a million Brits were still paying off their Christmas debt the following December. So, what are the best ways to manage your Christmas spending?

0% balance transfer credit cards

If you used plastic to fund your Christmas, the total cost of your festive season could end up being significantly higher than you think. If you end up paying interest on your balance for a few months, your Christmas could end up being extremely expensive. Many credit cards charge interest rates of between 15 and 20 per cent.

So, why not consider transferring your credit card balance? There are lots of interest free credit cards in the market and these cards offer you a 0% balance transfer cards (typically 12 to 16 months). By using interest free credit cards you can clear your Christmas debt without paying a fortune in interest.

Head online to compare credit cards

The best way to research and compare credit cards is to head online where there will be the best range of 0% balance transfer credit cards for you to consider. When looking at interest free credit cards, make sure you take into account:

• How long the 0% interest rate is for (and make sure you expect to be able to pay your Christmas balance within that period)
• Whether there are any fees for transferring the balance
• What the standard ‘go-to’ interest rate of the card is (in case you don’t manage to repay the balance by the end of the interest free period)

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The New Year sales will be here before you know it and, if you plan to take advantage of the savings to make big purchases, using your credit card may be the best way to pay, even if you have enough cash on hand to cover the costs. But, make sure you compare credit cards to obtain the best deal.

Paying with a credit card offers you what is known as “Section 75 protection”. This refers to Section 75 of the Consumer Credit Act, which applies to transactions you make in the UK as well as overseas and online. If the seller refuses to give you a refund due to defective goods or fails to send you what you have paid for, or sends you something that is greatly different to what you were expecting, you can have your credit card company dispute the charges with the seller and even get the credit card provider to issue you a refund.

While you can certainly receive refunds when you pay with cash, if there is a dispute over the delivery or quality of goods or services, you don’t have the recourse with cash that you do when you use your credit card.

You can get 0% purchase cards that you can use solely to make your big New Year’s sale purchases. As long as you pay off your balance before the 0% period ends, you won’t pay interest charges. Plus, since you’ve paid with a credit card, you can take advantage of your Section 75 protection, should you be unable to obtain satisfaction with a merchant when pursuing a refund.

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Christmas can be an expensive time. The BBC reported that the average cost of Christmas in Wales in 2009 was a cool £784, with a quarter of households planning to spend between £1,000 and £5,000 on their Christmas.

So, if you are looking for a cost effective way to spread the cost of Christmas, why not consider 0% purchase credit cards?

Spread the cost of Christmas with interest free credit cards

0% purchase credit cards allow you to borrow interest free. You typically benefit from a period of between 6 and 12 months where you will pay no interest on the money you spend on your credit card.

Interest free credit cards are therefore perfect if you want to spread the cost of Christmas gifts over several months. You can buy your Christmas gifts now and pay the money back over the next few months without incurring huge interest charges.

Make sure you repay your spending before the 0% period runs out

While interest free credit cards are a great way of spreading the cost of Christmas, you should be careful to ensure that you repay your balance before your 0% period runs out.

If you don’t repay your balance by the end of your interest free period you are likely to pay your card provider’s standard interest rate, which could be between 15% and 20%.

Head online to compare credit cards

When looking for interest free credit cards, the best place to search for your new card is on the internet. With dozens of 0% purchase credit cards available, it is vital that you research your options to find the best card for you.

When you compare credit cards, look for:

• The length of the 0% interest rate period
• Any charges or fees
• Whether there is a minimum limit to qualify for 0% deals (do you have to spend a minimum amount per transaction to qualify?)

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1. Thou shalt promptly dispute erroneous charges on thy credit card bill by “Recorded Signed for” Royal Mail to the bank that issueth thy card, with a description of the billing iniquity, and thou shalt enclose copies of sales receipts or other supporting documents, so that thou may be satisfied.

2. Thou shalt be wary of retail store cards that may tempt thee during the holiday season, for they often carry higher interest rates, retroactive interest charges, and can smite thy credit score if thou already hast too many cards.

3. When thou shoppeth online with thy credit cards, thou shalt first ensure that thy computer is equipped with the latest anti-virus software. Likewise, thou shalt shop on trustworthy sites and beware of the sinful practice of “phishing,” which seeketh to separate thee from thy private bank account details.

4. Thou shalt know thy rights under the portion of the law known as “Section 75 of the Consumer Credit Act,” which applieth to transactions both at home and over the seas and alloweth thou to claim thy money back on goods and services that beareth afflictions that causeth their function to cease.

5. If thou abuseth thy credit card, using it to charge here and charge elsewhere until thy balance approacheth thy card limit, thou shalt cast thy card from thy sight for 30 days and 30 nights, and pay down part of thy debt before accepting thy card back into thy wallet.

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