Plastic - Your Flexible Friend... Right, you're in town and Byrite are having a massive sale. You need cash quick, but didn't bring enough out. Hmm...what you need is a way of getting money out of your bank without the hassle of filling in any forms. You need plastic, my friend.
 Since you were little, you've probably wanted one, whether it's to save keeping your money under the bed, or to make your wallet/purse look a little more impressive. However, there are several types that serve different purposes - some for plain cash withdrawal from machines, or others for ordering that full set of James Bond videos off the internet: Types: - Cheque Guarantee Card: If you want to pay for goods by cheque from your current account, you'll probably need one of these to back up your cheque.
- Cash Card: Gets you cash from the holes in the wall, or ATM's (Automated Teller Machines) as they like to be known.
- Debit Card: This works like a cheque and cheque guarantee card all in one, taking the money out of you account when you pay for your goods. Many banks now offer these, but not all stores accept them - you have to look out for the little symbols like 'electron' or 'plus'.
- Charge Card: Any store card is usually a charge card. You get a set limit and you have pay off a minimum amount towards it each month.
- Combined Card: Cheque guarantee, debit and cash cards all rolled into one; very useful and very easy to spend loadsa money.
- Credit Card: Pretty much all of these require you to be over 18, or even over 21. They allow you to spend money you don't have without any interest being charged on it for a certain length of time. This might sound good, but if you don't pay it off in time, the interest rate on your 'borrowed' money will go up and you end up with all sorts of hassle. That's why they make you wait a few years until you get one.
Make sure you know the good and bad points of a particular bank's card before you go for it, such as the interest rates charged on the credit and charge cards. Interest Rates are one of the most important factors, and that's what most TV adverts try to sell a card on. It can sometimes end up being more than you think, especially as the interest is charged monthly on the outstanding balance (or 'the stuff you haven't paid pack yet'...). As some of you might already have found out, running up big debts on these cards can be very expensive and damaging to your financial health! So, now you have a card that gives what you want; some of the above let you use it in a hole in the wall. This require a PIN number (don't try it without...), which should have been given to you with the card, if it's possible for you to use yours in an ATM. PIN means Personal Identity Number. It's yours and yours only; So memorise it like you would your mum's birthday, and don't give it to anyone else. It's real bad news if you forget it and can put your card out of use for some time. But don't write it down and keep it next to your card in your purse/bag or wallet; MEMORISE!! Lost or Stolen Cards: Losing your wallet can be so depressing, and even more so if you had a plastic money card in it. If this happens or if you can't find your card and think it has been stolen, it's best to get the card voided in case someone finds it and starts buying stuff with your money. Phone the helplines listed either at the bank, with you account documentation or even in the telephone book. Do it immediately; no make it quicker than that: and report it to the police! Read:
- Kieren
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