Bread Crumb Trail

Credit Cards

Credit Cards for Balance Transfers & Purchases

CardIssuerBalance TransfersPurchasesTypical APR (variable)Apply
RateDurationFeeRateDuration
Virgin Money Card
16 months 0% Balance Transfers
& 3 months 0% Purchases
0% 16 mths 2.98% 0% 3 mths
16.6%
Apply >
More Info
Egg Visa Card
0% Balance Transfers until August 2010 & 0% Purchases until
September'09
0% until Aug 2010 3% 0% until Sep 2009
16.9%
Apply >
More Info
Barclaycard Platinum
0% Balance Transfers until August 2010
& 3 months 0% Purchases
0% until Aug 2010 2.50% 0% 3 mths
12.4%
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More Info
Tesco Clubcard
6 months 0% on Balance Transfers
& 12 Months 0% Purchases
0% 6 mths 2% 0% 12 mths
16.9%
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More Info
MBNA Platinum
13 months 0% on Balance Transfers
& 3 months 0% on Purchases
0% 13 mths 2.90% 0% 3 mths
17.9%
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More Info
MBNA Rewards
£1 = 1 Reward point, Redeem for holidays, electricals, etc
0% 13 mths 2.90% 0% 3 mths
15.9%
Apply >
More Info
NatWest Platinum
15 months 0% Balance Transfers
& 3 months 0% Purchases. AVAILABLE TO NATWEST CUSTOMERS ONLY
0% 15 mths 2.90% 0% 3 mths
16.9%
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More Info
RBS Platinum
15 months 0% Balance Transfers
& 3 months 0% Purchases. AVAILABLE TO RBS CUSTOMERS ONLY
0% 15 mths 2.90% 0% 3 mths
16.9%
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More Info
HSBC Credit Card
15 months 0% on Balance Transfers
& 3 Months 0% Purchases
AVAILABLE TO HSBC CUSTOMERS ONLY
0% 15 mths 2.90% 0% 3 mths
16.9%
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More Info
Post Office Mastercard
12 Months 0% BalanceTransfers
& 3 months 0% Purchases
0% 12 mths 2.98% 0% 3 mths
16.9%
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More Info
Halifax All In One
9 months 0% on Balance Transfers & Purchases
0% 9 mths 3% 0% 9 mths
15.9%
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More Info
Bank of Scotland All In One
9 months 0% on Balance Transfers & Purchases
0% 9 mths 3% 0% 9 mths
15.9%
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More Info
BT Credit Card
13 months 0% Balance Transfers & Money off BT Phone Bill
0% 13 mths 3% 0% 3 mths
18.9%
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More Info
NatWest Gold
8.9% on Balance Transfers for Life & 9 months 8.9% on Purchases
8.90% For Life N/A 8.90% 9 mths
16.9%
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More Info
RBS Gold
8.9% on Balance Transfers for Life & 9 months 8.9% on Purchases
8.90% For Life N/A 8.90% 9 mths
16.9%
Apply >
More Info
NatWest Classic
9 months 4.9% on Purchases
& Foreign currency cash withdrawal
N/A N/A N/A 4.90% 9 mths
16.9%
Apply >
More Info
RBS Classic
9 months 4.9% on Purchases & Foreign currency cash withdrawal
N/A N/A N/A 4.90% 9 mths
16.9%
Apply >
More Info

Introductory Offer

Balance Transfer Rate:
0% for 16 mths
Balance Transfer Fee:
2.98%
Purchase Rate:
0% for 3 mths

Typical APR

Purchases:
16.6% p.a.
Balance Transfers:
16.6% p.a.
Cash Advance:
24.9% p.a.

Standard Features

Credit Limit:
Subject to Status
Interest Free Days:
Up to 50 days
Online Banking:
Yes

Approval Criteria

  • You are at least 25 Years of Age
  • You have a Good Credit History
  • You are in full time employment
  • You are a permanent resident/citizen of the UK
  • You have a Bank or Building society account

Introductory Offer

Balance Transfer Rate:
0% until Aug 2010
Balance Transfer Fee:
3%
Purchase Rate:
0% until Sep 2009

Typical APR

Purchases:
16.9% p.a.
Balance Transfers:
16.9% p.a.
Cash Advance:
24.9% p.a.

Standard Features

Credit Limit:
Subject to Status
Interest Free Days:
Up to 45 days
Online Banking:
Yes

Approval Criteria

  • You are at least 18 Years of Age
  • You have a Good Credit History
  • You are a permanent resident/citizen of the UK
  • Any Income Considered

Introductory Offer

Balance Transfer Rate:
0% until Aug 2010
Balance Transfer Fee:
2.50%
Purchase Rate:
0% for 3 mths

Typical APR

Purchases:
12.4% p.a.
Balance Transfers:
12.4% p.a.
Balance Transfer Fee:
2.90%
Cash Advance:
27.9% p.a.

Standard Features

Credit Limit:
Subject to Status
Interest Free Days:
Up to 56 days
Online Banking:
Yes

Approval Criteria

  • You are 21 years or over
  • You are a permanent UK resident
  • You have no history of bankruptcy, had an IVA's or CCJ's.
  • You haven't missed a payment on either a credit card or mortgage in the last 12 months.
  • You have a regular income of more than £20,000 per annum
  • You have not been declined for credit in the last six months.
  • You do not have debts on other credit cards greater than £20,000

Introductory Offer

Balance Transfer Rate:
0% for 6 mths
Balance Transfer Fee:
2%
Purchase Rate:
0% for 12 mths

Typical APR

Purchases:
16.9% p.a.
Balance Transfers:
16.9% p.a.
Balance Transfer Fee:
2%
Cash Advance:
24.9% p.a.

Standard Features

Credit Limit:
Subject to Status
Interest Free Days:
Up to 46 days
Online Banking:
Yes

Approval Criteria

  • You have an excellent Credit History
  • You are at least 18 Years of Age
  • You are a permanent resident/citizen of the UK
  • You have a bank or building society account
  • You have an income over £10,000 p.a

Introductory Offer

Balance Transfer Rate:
0% for 13 mths
Balance Transfer Fee:
2.90%
Purchase Rate:
0% for 3 mths

Typical APR

Purchases:
17.9% p.a.
Balance Transfers:
17.9% p.a.
Cash Advance:
24.9% p.a.

Standard Features

Credit Limit:
£50,000
Interest Free Days:
Up to 50 days
Online Banking:
Yes

Approval Criteria

  • You are currently employed
  • You are over 23 years of age
  • You are a homeowner
  • You have an income of over £20,000
  • You do not have any recent credit defaults (CCJ's, current arrears or missed payments) on credit cards / loans / mortgages
  • You are a resident in the UK and can prove residential addresses for the past two years
  • You have not applied for an MBNA or Virgin Credit Card within the last 6 months

Introductory Offer

Balance Transfer Rate:
0% for 13 mths
Balance Transfer Fee:
2.90%
Purchase Rate:
0% for 3 mths

Typical APR

Purchases:
15.9% p.a.
Balance Transfers:
15.9% p.a.
Cash Advance:
24.9% p.a.

Standard Features

Credit Limit:
£50,000
Interest Free Days:
Up to 56 days
Online Banking:
Yes

Approval Criteria

  • You are currently employed
  • You are over 21 years of age
  • You are a homeowner
  • You have an income of over £20,000
  • You do not have any recent credit defaults (CCJ's, current arrears or missed payments) on credit cards / loans / mortgages
  • You are a resident in the UK and can prove residential addresses for the past two years
  • You have not applied for an MBNA or Virgin Credit Card within the last 6 months

Introductory Offer

Balance Transfer Rate:
0% for 15 mths
Balance Transfer Fee:
2.90%
Purchase Rate:
0% for 3 mths

Typical APR

Purchases:
16.9% p.a.
Balance Transfers:
16.9% p.a.
Cash Advance:
24.9% p.a.

Standard Features

Credit Limit:
£25,000
Interest Free Days:
Up to 56 days
Online Banking:
Yes

Approval Criteria

  • YOU ARE AN EXISTING NATWEST CUSTOMER
  • You are at least 25 Years of Age
  • You have a Good Credit History
  • You are a permanent resident/citizen of the UK
  • You earn over £25,000 per year

Introductory Offer

Balance Transfer Rate:
0% for 15 mths
Balance Transfer Fee:
2.90%
Purchase Rate:
0% for 3 mths

Typical APR

Purchases:
16.9% p.a.
Balance Transfers:
16.9% p.a.
Cash Advance:
24.9% p.a.

Standard Features

Credit Limit:
£25,000
Interest Free Days:
Up to 56 days
Online Banking:
Yes

Approval Criteria

  • YOU ARE AN EXISTING RBS CUSTOMER
  • You are at least 25 Years of Age
  • You have a Good Credit History
  • You are a permanent resident/citizen of the UK
  • You earn over £25,000 per year

Introductory Offer

Balance Transfer Rate:
0% for 15 mths
Balance Transfer Fee:
2.90%
Purchase Rate:
0% for 3 mths

Typical APR

Purchases:
16.9% p.a.
Balance Transfers:
16.9% p.a.
Cash Advance:
24.7% p.a.

Standard Features

Credit Limit:
Subject Status
Interest Free Days:
Up to 56 days
Online Banking:
Yes

Approval Criteria

  • YOU ARE AN EXISTING HSBC CUSTOMER
  • You are at least 18 Years of Age
  • You have a Good Credit History
  • You have been a permanent resident/citizen of the UK for atleast the last 3 years
  • You have a bank or building society account
  • You have an income over £10,000 p.a

Introductory Offer

Balance Transfer Rate:
0% for 12 mths
Balance Transfer Fee:
2.98%
Purchase Rate:
0% for 3 mths

Typical APR

Purchases:
16.9% p.a.
Balance Transfers:
16.9% p.a.
Cash Advance:
19.16% p.a.

Standard Features

Credit Limit:
Subject to Status
Interest Free Days:
Up to 56 days
Online Banking:
Yes

Approval Criteria

  • You are at least 18 Years of Age
  • You have a Good Credit History
  • You are a permanent resident/citizen of the UK
  • You have an income over £8,000 p.a

Introductory Offer

Balance Transfer Rate:
0% for 9 mths
Balance Transfer Fee:
3%
Purchase Rate:
0% for 9 mths

Typical APR

Purchases:
15.9% p.a.
Balance Transfers:
15.9% p.a.
Balance Transfer Fee:
3%
Cash Advance:
27.9% p.a.

Standard Features

Credit Limit:
Subject to Status
Interest Free Days:
Up to 56 days
Online Banking:
Yes

Approval Criteria

  • You are at least 18 Years of Age
  • You are a permanent resident/citizen of the UK
  • You have NOT been declined for a Halifax or Bank of Scotland Credit Card in the last 6 months
  • You DO NOT any CCJs or have been made Bankrupt
  • You have NOT missed payments on your current store cards, credit cards, loans or mortgages
  • You ARE in employment (receiving an annual salary)
  • You can provide a telephone number that you can be contacted on

Introductory Offer

Balance Transfer Rate:
0% for 9 mths
Balance Transfer Fee:
3%
Purchase Rate:
0% for 9 mths

Typical APR

Purchases:
15.9% p.a.
Balance Transfers:
15.9% p.a.
Balance Transfer Fee:
3%
Cash Advance:
27.9% p.a.

Standard Features

Credit Limit:
Subject to Status
Interest Free Days:
Up to 56 days
Online Banking:
Yes

Approval Criteria

  • You are at least 18 Years of Age
  • You are a permanent resident/citizen of the UK
  • You have NOT been declined for a Halifax or Bank of Scotland Credit Card in the last 6 months
  • You DO NOT any CCJs or have been made Bankrupt
  • You have NOT missed payments on your current store cards, credit cards, loans or mortgages
  • You ARE in employment (receiving an annual salary)
  • You can provide a telephone number that you can be contacted on

Introductory Offer

Balance Transfer Rate:
0% for 13 mths
Balance Transfer Fee:
3%
Purchase Rate:
0% for 3 mths

Typical APR

Purchases:
18.9% p.a.
Balance Transfers:
18.9% p.a.
Cash Advance:
24.9% p.a.

Standard Features

Credit Limit:
Subject to Status
Interest Free Days:
Up to 50 days
Online Banking:
Yes

Approval Criteria

  • You are currently employed
  • You are over 23 years of age
  • You are a homeowner
  • You have an income of over £20,000
  • You do not have any recent credit defaults (CCJ's, current arrears or missed payments) on credit cards / loans / mortgages
  • You are a resident in the UK and can prove residential addresses for the past two years
  • You have not applied for an MBNA or Virgin Credit Card within the last 6 months

Introductory Offer

Balance Transfer Rate:
8.90% For Life
Balance Transfer Fee:
N/A
Purchase Rate:
8.90% for 9 mths

Typical APR

Purchases:
16.9% p.a.
Balance Transfers:
16.9% p.a.
Cash Advance:
24.9% p.a.

Standard Features

Credit Limit:
£20,000
Interest Free Days:
Up to 56 days
Online Banking:
Yes

Approval Criteria

  • You are at least 18 Years of Age
  • You have a Good Credit History
  • You are a permanent resident/citizen of the UK
  • You earn over £20,000 per year

Introductory Offer

Balance Transfer Rate:
8.90% For Life
Balance Transfer Fee:
N/A
Purchase Rate:
8.90% for 9 mths

Typical APR

Purchases:
16.9% p.a.
Balance Transfers:
16.9% p.a.
Cash Advance:
24.9% p.a.

Standard Features

Credit Limit:
£20,000
Interest Free Days:
Up to 56 days
Online Banking:
Yes

Approval Criteria

  • You are at least 21 Years of Age
  • You have a Good Credit History
  • You are a permanent resident/citizen of the UK
  • You earn over £20,000 per year

Introductory Offer

Balance Transfer Rate:
N/A
Balance Transfer Fee:
N/A
Purchase Rate:
4.90% for 9 mths

Typical APR

Purchases:
16.9% p.a.
Balance Transfers:
16.9% p.a.
Cash Advance:
24.9% p.a.

Standard Features

Credit Limit:
£10,000
Interest Free Days:
Up to 56 days
Online Banking:
Yes

Approval Criteria

  • You are at least 18 Years of Age
  • You have a Good Credit History
  • You are a permanent resident/citizen of the UK
  • You earn over £10,000 per year

Introductory Offer

Balance Transfer Rate:
N/A
Balance Transfer Fee:
N/A
Purchase Rate:
4.90% for 9 mths

Typical APR

Purchases:
16.9% p.a.
Balance Transfers:
16.9% p.a.
Cash Advance:
24.9% p.a.

Standard Features

Credit Limit:
£10,000
Interest Free Days:
Up to 56 days
Online Banking:
Yes

Approval Criteria

  • You are at least 18 Years of Age
  • You have a Good Credit History
  • You are a permanent resident/citizen of the UK
  • You earn over £10,000 per year

Credit Cards for a Poor Credit History

CardIssuerTypical APR (variable)Credit LimitCCJ's AcceptedApply
Capital One Classic
High Chance of Acceptance with a Poor Credit History
34.9%
£100 - £2500
Yes
Apply >
More Info
Vanquis Abacus
For Poor Credit History Including recent CCJ's
39.9%
£250
Yes
Apply >
More Info
Virgin Pay Monthly Mastercard
100% Acceptance - £4.75 per month for unlimited transactions
N/A
N/A
Yes
Apply >
More Info

Introductory Offer

Balance Transfer Rate:
N/A
Balance Transfer Fee:
N/A
Purchase Rate:
N/A

Typical APR

Purchases:
34.9% p.a.
Balance Transfers:
34.9% p.a.
Balance Transfer Fee:
3%
Cash Advance:
34.9% p.a.

Standard Features

Credit Limit:
£100 - £2500
Interest Free Days:
Up to 56 days
Online Banking:
Yes

Approval Criteria

  • You are at least 18 Years of Age
  • You have had a Poor Credit History
  • You are possibly new to credit or have recent CCJ's
  • You are a permanent resident/citizen of the UK
  • You have a bank or building society account
  • Any Income Considered

Introductory Offer

Balance Transfer Rate:
N/A
Balance Transfer Fee:
N/A
Purchase Rate:
N/A

Typical APR

Purchases:
39.9% p.a.
Balance Transfers:
39.9% p.a.
Cash Advance:
39.9% p.a.

Standard Features

Credit Limit:
£250
Interest Free Days:
Up to 56 days
Online Banking:
Yes

Approval Criteria

  • You are at least 18 Years of Age
  • You have had a Poor Credit History
  • You are possibly new to credit or with recent CCJ's
  • You DO NOT need to be permanent resident/citizen of the UK
  • You DO NOT need a bank or building society account
  • Any Income Considered

Introductory Offer

Balance Transfer Rate:
N/A
Balance Transfer Fee:
N/A
Purchase Rate:
N/A

Typical APR

Purchases:
N/A
Balance Transfers:
N/A
Cash Advance:
N/A

Standard Features

Credit Limit:
N/A
Interest Free Days:
N/A
Online Banking:
Yes

Approval Criteria

  • 100% guaranteed acceptance
  • No bank account needed
  • Available for your family aged 13 and over

Credit Cards for Cash Back

CardIssuerCash Back RateCash Back PaidPayment MethodApply
IntroDurationOngoing
Amex Platinum
Platinum
5% 3 mths 1.50%
Annually
Deposit on Card
Apply >
More Info

Introductory Offer

Balance Transfer Rate:
N/A
Balance Transfer Fee:
N/A
Purchase Rate:
N/A

Typical APR

Purchases:
18.9% p.a.
Balance Transfers:
18.9% p.a.
Cash Advance:
22.9% p.a.

Standard Features

Credit Limit:
£50,000
Interest Free Days:
Up to 56 days
Online Banking:
Yes

Cashback

Intro Cashback Rate:
5% 3 mths
Standard Cashback Rate:
1.50%

Approval Criteria

  • You are at least 18 Years of Age
  • You have a Good Credit History
  • You are a permanent resident/citizen of the UK
  • You have a bank or building society account
  • You have a Household income of over £20,000.pa

Credit Cards for Rewards

CardIssuerRewardsApply
BT Credit Card
Get money off your BT Phone Bill every time you spend on your card.
Apply >
More Info
British Airways American Express
  • Collect Airmiles to use with BA.
  • Get 3000 bonus miles if you spend £2k in 1st 3 months!
  • £1 = 1 Airmile
Apply >
More Info
MBNA Rewards
  • Get 2000 FREE MBNA Points If you use Card
  • £1 = 1 MBNA Point - Get Holidays, Wine, etc
Apply >
More Info

Introductory Offer

Balance Transfer Rate:
0% for 13 mths
Balance Transfer Fee:
3%
Purchase Rate:
0% for 3 mths

Typical APR

Purchases:
18.9% p.a.
Balance Transfers:
18.9% p.a.
Cash Advance:
24.9% p.a.

Standard Features

Credit Limit:
Subject to Status
Interest Free Days:
Up to 50 days
Online Banking:
Yes

Approval Criteria

  • You are currently employed
  • You are over 23 years of age
  • You are a homeowner
  • You have an income of over £20,000
  • You do not have any recent credit defaults (CCJ's, current arrears or missed payments) on credit cards / loans / mortgages
  • You are a resident in the UK and can prove residential addresses for the past two years
  • You have not applied for an MBNA or Virgin Credit Card within the last 6 months

Introductory Offer

Balance Transfer Rate:
N/A
Balance Transfer Fee:
N/A
Purchase Rate:
N/A

Typical APR

Purchases:
19.9% p.a.
Balance Transfers:
19.9% p.a.
Cash Advance:
27.9% p.a.

Standard Features

Credit Limit:
Subject to Status
Interest Free Days:
Up to 57 days
Online Banking:
Yes

Approval Criteria

  • You are aged 18 or over
  • You have a current UK bank or building society account
  • You have an Annual Household Income of £20,000 (ie. your personal income plus partner's income)
  • You have a permanent UK home address
  • You have no County Court Judgements for non-payment of debt
  • If you are self-employed your company has been trading for more than a year

Introductory Offer

Balance Transfer Rate:
0% for 13 mths
Balance Transfer Fee:
2.90%
Purchase Rate:
0% for 3 mths

Typical APR

Purchases:
15.9% p.a.
Balance Transfers:
15.9% p.a.
Cash Advance:
24.9% p.a.

Standard Features

Credit Limit:
£50,000
Interest Free Days:
Up to 56 days
Online Banking:
Yes

Approval Criteria

  • You are currently employed
  • You are over 21 years of age
  • You are a homeowner
  • You have an income of over £20,000
  • You do not have any recent credit defaults (CCJ's, current arrears or missed payments) on credit cards / loans / mortgages
  • You are a resident in the UK and can prove residential addresses for the past two years
  • You have not applied for an MBNA or Virgin Credit Card within the last 6 months

Credit Cards for Travel

CardIssuerOfferApply
Post Office Mastercard
12 Months 0% BalanceTransfers
& 3 months 0% Purchases
  • Get 0% Commission card use abroad (usually 2.75% charge).
  • Post Office travel insurance and travel money services also available
Apply >
More Info
Post Office Travel Money Card
You can buy a Euro, US Dollar, or Sterling Travel Money Card. Simply load-up and spend!
  • Load the card from £50 - £2,500 by phone or in a branch in Post Office branch.
  • If your card is lost or stolen your money is protected.
Apply >
More Info
Caxtonfx Pre-paid Travel Card
3 Travel Card options: Eurocard for countries using the Euro. Dollarcard for the USA & The Global Traveller Card for the rest of the world.
Free Card, No oversea ATM fees, No monthly fees, 0% commission, Easy to load and use, No fees on purchases when used outside the UK.
Apply >
More Info

Introductory Offer

Balance Transfer Rate:
0% for 12 mths
Balance Transfer Fee:
2.98%
Purchase Rate:
0% for 3 mths

Typical APR

Purchases:
16.9% p.a.
Balance Transfers:
16.9% p.a.
Cash Advance:
19.16% p.a.

Standard Features

Credit Limit:
Subject to Status
Interest Free Days:
Up to 56 days
Online Banking:
Yes

Approval Criteria

  • You are at least 18 Years of Age
  • You have a Good Credit History
  • You are a permanent resident/citizen of the UK
  • You have an income over £8,000 p.a

Introductory Offer

Balance Transfer Rate:
N/A
Balance Transfer Fee:
N/A
Purchase Rate:
N/A

Typical APR

Purchases:
N/A
Balance Transfers:
N/A
Cash Advance:
N/A

Standard Features

Credit Limit:
N/A
Interest Free Days:
N/A
Online Banking:
Yes

Approval Criteria

  • 100% Guaranteed Acceptance for everyone

Introductory Offer

Balance Transfer Rate:
N/A
Balance Transfer Fee:
N/A
Purchase Rate:
N/A

Typical APR

Purchases:
N/A
Balance Transfers:
N/A
Cash Advance:
N/A

Standard Features

Credit Limit:
N/A
Interest Free Days:
N/A
Online Banking:
Yes

Approval Criteria

  • You must be over 18
  • A permanent resident in the UK
  • Hold a current UK debit card

Latest Credit Card News RSS Feed

White paper 'could benefit credit card borrowers'
The government's recently published consumer white paper will prove to be of benefit for credit card borrowers, it has been claimed. Writing in a lovemoney.com article, Cliff D'Ar ...
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Fri 3rd Jul, 2009
Ban for Credit Card Cheques
Credit card cheques are to be banned by the government as part of a new consumer protection scheme. ...
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Thu 2nd Jul, 2009
Longest balance transfer deal 'should be sought'
For those consumers struggling to get to grips with their finances, 0% credit card deals can prove to be an effective tool, it has been suggested. Writing for lo ...
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Thu 2nd Jul, 2009
Tackle credit card debt 'as quickly as possible'
In taking steps to clear off money owed on credit cards as soon as possible, people should find they have more cash to spend on purchasing items, it has been reported. Claiming mo ...
Read More >
Tue 30th Jun, 2009
Virgin Credit Card 'offers holiday savings'
By making use of a Virgin Credit Card, holidaymakers could find that they can go abroad for a much more competitive price. In a Guardian article, the ...
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Thu 25th Jun, 2009

Popular Searches

Make sure you choose the right Credit Card 4u

Finding the right Credit Card 4u depends on your how you intend on how you use your card. We have identified 5 different types of credit card users. Please click on the description that best fits with your planned or actual use of credit cards and follow the corresponding advice accordingly.

The 0% Surfer

You have a balance on one or more credit cards which you currently are trying to pay off. You do not have the funds available to clear the balance at this time, so instead you make a balance transfer from one card to the next, taking advantage of the 0% Balance transfers durations on offer. This way you insure that you pay the minimum amount of interest so that the maximum amount of your monthly payments goes to paying down what you owe.

The Monthly Revolver

You use your credit card to pay for the majority of your purchases through out the month, including food, shopping, eating/drinking out, utility bills and subscriptions. You generally pay off most, if not all of your balance with your salary at the end of the month. Occasionally in some months you may leave a small balance on the card.

The Big Spender

You make a series of large purchases with your card, in most months spending on average above £10k. You are a confident credit user allowing you to completely clear large balances at the end of each month, or if the situation demands, exercise the option to leave large balances until a more appropriate time.

The Traveller

You make regular trips over sea’s spending in several different currencies in one year. You pay off the expenses incurred during your travels either immediately on your return, or within the next 2 months.

The Poor Credit Experience/First Timer

You are either new to credit or you have had credit in the past but have had difficulties in meeting the agreed repayments.

The 0% Surfer

If you are currently trying to pay off your credit cards 0% balance transfer periods can be a useful tool in helping you reduce your balance without incurring too much interest. Essentially you are looking for the maximum 0% Balance Transfer duration, with the lowest possible Balance Transfer Fee. Credit card companies had to introduced a fee ( usually 2-3% of the balance) to try to reduce the number of customers that were simply jumping from card-to-card taking advantage of the 0% balance transfer duration offer, before they moved on. The good news is the balance transfer fee’s are simply applied to your balance by your new credit card company as they transfer your balance to their card. You DO NOT have to pay physically pay this fee. You then have up to 15 Months at 0% APR with which to pay down your balance. It is important to note that you still need to make your minimum monthly payments (usually 3% of the Balance) during the 0% Balance Transfer offer duration. We would actually recommend setting up a standing order to pay the maximum you can afford each month for the duration of the 0% offer.

If by the end of your 0% balance transfer period you still have not paid off your Balance you have 2 choices;

  • Leave the balance where it is and continue to pay the card offer, but incur the standard rate of interest (usually between 10 – 17% APR),
  • Apply for another credit card and transfer your balance across. You will of course incur another Balance Transfer Fee in doing this which should be considered. You also need to ensure you have had a good credit history before considering this. If you have had over 3 months of missed payments then you may find that another credit card company will not accept you. Always keep up your minimum payments, and contact your card company if you are having difficulties in doing this.

If handled correctly 0% surfing can be the least expensive and least risky solution to reducing what you owe. If you compare this to the other options of talking out an Unsecured Personal Loan, which will charge in the region of 11% APR, or a Secured Personal Loan, which will charge around 7%APR, but has the disadvantage of your home being at risk, then 0% Surfing look like a very attractive solution!

The Monthly Revolver

Since you do not have any previous balance’s to transfer, steer clear of the cards which have a focus on this. Instead look towards the cards that intend on capturing your business by offering Rewards for your spend. Credit card companies offer some very attractive incentives such as Reward Points, Air Miles or Cash Back related to the amount you spend. This is obviously with the aim of encouraging you to spend more, in the hope that you will leave some of this spend on the card to accrue interest. The trick is to be strict as you can be with yourself, pay off the card when each statement arrives. This will allow you to derive the maximum benefit from your spend.

The most appropriate reward credit card for you will depend on the value you place on offers available. For example, if you are a keen traveller then receiving Air miles every time you spend would mean that you can save to pay for flights or accommodation when you go away. If you are a shop-a-holic then receiving Rewards Points that can be exchange for gift vouchers, or exchange directly for goods and services may be best. If you simply want to receive a percentage back on everything you spend then a Cash Back Credit Card would be best. Some cards offer between 3% - 5% cash back for the first 3 months and then between 0.5 – 1.5% thereafter. Cash back is normally paid via a deposit back to the card once a year. It can be surprising how much this can add up to be!

Finally, another benefit of some cards is that they offer protection from Fraudulent shopping sites on the Internet, or even give you a guarantee (on top of the manufactures guarantee) on all purchases you make. Resulting in an extra layer of protection that you wouldn’t get if you were simply processing your monthly spend through a debit card.

The Big Spender

If you have a requirement for large amounts of credit at any one time then you need to apply for a Platinum credit card or Gold credit card. These cards will provide you with credit facilities up to £50,000 as standard (providing that you pass their stringent credit checks). If you require access to a greater amount of credit then it is possible to request limits above this amount but this is evaluated on a case-by-case basis.

If you are a large spender an important benefit to using credit cards are the Cash Back credit cards or Rewards credit card offers available on the market. If you are processing large amount through the card these can really add up! For example with a Cash Back credit card you can earn 1.5% of your monthly spend back. Assuming that your using your £50k credit limit fully that’s £750 cash back! Why would you spend on a Debit Card when you get paid to spend with a Credit Card?

Reward credit cards also offer equally attractive incentives. For example if you spend £50k on an Air Miles credit card you would get a FREE return flight to New York! There are some fantastic reward point programs now available as credit card companies try to discourage you from jumping from card to card, and encourage you to keep their card in your wallet. Why shouldn’t you take advantage of their generosity?

The Traveler

Cash can be a very risky thing to carry with you (in large quantities) when you are travelling. Credit Cards therefore make the ideal travelling companion. Chip and Pin technology offers safe and easy access to funds with which to make foreign purchases. It is very hard these days to find a shop, store or restaurant anywhere in the world, that doesn’t have the ability to accept both Mastercard and Visa. The exchange rates on offer by the credit card companies are very competitive (usually far better than your airport or holiday resort cash exchange bureaux). Most Credit Cards will however charge you 2.75% Commission on Foreign Purchases. We however have Travel Credit Cards listed that DO NOT have this charge for example the Post Office credit card.

If you are travelling regularly perhaps for business and pleasure then an Air Miles credit card could also provide the best solution. Simply by using these cards to pay for your trips abroad and the purchases you make whilst on them, you will find that you will earn points which if saved can be used to pay for future flights or accommodation. However, you will earn Air Miles at the expense of incurring the 2.75% Foreign Purchases commission (this is fine if you can claim back your expenses in any case).

The Poor Credit Experience/First Timer

It’s a strange situation but having No Credit History in some cases effects you in the same way as having a Bad Credit history. However, both problems are solved in the same way. It’s all about improving, or building a good track record. All Credit Card Companies share information about their customer behaviour with credit reference agencies called Equifax or Experian. These agencies are then referred to when you go to apply for a new credit card. If you have missed payments, had defaults or been made bankrupt within the last 5 years this information will be stored. The good news is that under the Data Protection Act you are entitled to have access to this information If you are curious as to what information is held on you get a Free Credit Report from Credit Expert now.

If you have Bad Credit History or No Credit History we have a list of bad credit credit cards that can help. They balance out their risk by charging higher rates of interest than standard cards (in the region of 35% APR). However, this isn’t as bad as it may seem, as if you can pay off the amount you have place on the card within 56 days you will not incur any interest. This way you can start building/rebuilding your credit history as each on-time and in-full payment will be recorded with Experian/Equifax. After a period of 9-12 months you may then be able to apply to another credit card company that offers a better rate of interest and/or features such as Rewards, Cash back and Air miles.