British Gas signals major price hikes - FIX NOW?
Others likely to follow | Consider urgently fixing to prevent rises | Switch NOW, save £200
Company financial results often contain coded messages but on Monday British Gas' wasn't subtle: "Wholesale prices ... are currently around 25% higher than last winter, with end-user prices yet to reflect this." This is a strong signal that unless markets change, up to £150/yr hikes for a typical home are imminent. Energy companies are like sheep, where one leads, the rest follow.
 Fix NOW if you can't risk rises. A fixed tariff (or cap) guarantees your rate won't rise for a set period, eg, two years. As the price hike risk has soared, consider it insurance against prices rising. As cheap deals are disappearing left, right and centre in anticipation of hikes, if you want to lock-in, speed is crucial. Fixes are available to all but pre-pay customers.- How much can I save? A typical household on a standard tariff pays around £1,150 a year, while the current cheapest fixes are around £1,000, so many will instantly save. Yet these deals are undercut by super-cheap non-fixed online tariffs at around £930.
However, it would only take a small hike before fixes become worth it, and current predictions are for big hikes. So while there is no guarantee fixing will be best long-term, for those who can't cope with jumps, it's the peace of mind option. If prices don't rise, you can ditch it early but many charge a £20-£40 penalty.
- Find YOUR cheapest deal and get cashback. The company you're with matters less than which of its many tariffs you're on. Comparison sites let you compare (if you want to fix, just click the 'show only fixed tariffs' tab). Top Pick: Energyhelpline* pays £15 cashback per switch whether to single fuel (gas or electricity) or both. Dual Fuel: MoneySupermarket* pays £30 in cash, Uswitch* offers a crate of wine, SimplySwitch* £40 cash.
Much more in the Updated Guide: Cheap Gas & Elec Related: Current Fix Ending?, Cheap Water Bills
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Last Chance! Free BA Europe return (worth c.£200)
Ends Thurs! Easy credit card freebie on spending OR 0% balance transfer card
It's possible to get a BA European return to France, Italy, Spain etc, including ALL taxes and charges, without it costing a penny. As it's a credit card freebie, you'll be credit scored.
 Lloyds Airmiles Duo card. Get accepted for a Lloyds Airmiles Duo after applying before 12 May via the Lloyds website*, and for the first 3mths, you earn a huge one Airmile per £1 spent on the Amex (you also get a Mastercard) rather than the normal one per £10. The max boost is 1,500 miles, enough for a free return. So just do normal daily spending, but ensure you always REPAY IN FULL so you're not charged the 15.9% representative APR.
- Earn the flights from a 0% balance transfer. Alternatively, the card also gives the 1,500 Airmiles if you shift £1,500 of debts from another card to it. Then you get 6mths 0%, effectively for a 1.5% fee - the lowest around (it's 3% but transfer by 30 June and half's refunded). If you can clear the debt in 6 months it's a cracker.
Longer Balance Transfers: If you need longer to repay, the 1.5% fee above £1,500 transfers also applies to the Lloyds* Platinum 0% for 14mths deal (15.9% rep APR after). Need even longer and Barclaycard* is 20 months 0% with a 3.2% fee (17.5% rep APR). Safety warnings in Best Balance Transfers guide (see Official APR Examples).
FULL help & credit score impact in the Updated Guide: Credit Card Freebies Related: 0% for 15mths on Spending
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| Financial self-defence class
Mastercard confirms it has hidden protection, just like Visa | Protect yourself
The Focus DIY crisis is a sobering reminder that even big companies fail, leaving customers to foot the bill. Remember Woolworths & MFI? That's why it's crucial to understand the hidden protection you're holstering with plastic. Here are the key self-defence rules:
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 Black Belt! For £100+ pay by CREDIT card. Spend £100 to £30,000 on a single item here or abroad and Section 75 laws mean the card company's jointly liable with the retailer. If goods are faulty or the retailer goes bust, it's responsible too. Even if goods cost £20,000 and you pay £1 by card, it's liable for the whole amount. To avoid interest, set up a direct debit to fully repay each month and consider a Top Cashback Card for added benefit.
- Brown Belt! Visa AND Mastercard debit or credit card chargeback. This is nowhere near as strong as Section 75 protection, but it's a useful back-up. We've long known Chargeback Rules apply to Visa debit, credit and prepaid cards, but we've recently had firm confirmation it works for Mastercards too.
If there's a problem, ask your bank or building society to reclaim cash from the retailer's bank (£10 min on Mastercard), provided it's within 120 days (180 for Visa overseas).
- No Belt! Cash or cheque. You get no additional protection, your only recourse is to the retailer.
FULL info, and what to watch for in the Updated Guide: Section 75 & Chargeback Related Guides: Consumer Rights, How To Complain, Prepaid Cards
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