Credit Cards - Credit cards 'are a handy way to make purchases'
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Latest News Credit cards 'are a handy way to make purchases'
Credit cards 'are a handy way to make purchases'
When used properly, credit cards can prove to be an extremely effective spending tool, it has been suggested.
The numerous benefits of using a credit card have been highlighted by one writer.Stating such products are "a very handy piece of plastic", Rachel Robson points out the wide-ranging benefits attached to credit cards. And they can be particularly effective, she reveals in a lovemoney.com article, for those looking to fund major expenses.
Indeed, should people have an event such as a birthday or holiday coming up and they already know they will be unable to meet such costs straightaway, a 0% purchases credit card could be "a sensible way to pay". By funding expenditure this way, consumers will find they benefit from an interest-free period "giving you plenty of time to pay off the debt".
And those looking to compare accounts in order to get the best deal possible may be interested to hear her points that the Halifax All in One Credit Card offers 0% purchases for a nine-month period, while the Tesco Clubcard Credit Card does not charge interest on purchases for a year.
A cashback credit card could also be advisable for those who pay for day-to-day goods and services on their plastic but manage to pay off what they owe at the end of each month. Indeed, by using such a credit card Ms Robson points out that borrowers can earn back a percentage of what they spend, with the American Express Platinum Cashback Card an especially effective product for this. However, those who are unable to clear off their balance each month were reminded they will face a "hefty interest rate".
Meanwhile, people who they have amassed significant debts may wish to consider shifting money owed on existing cards to a 0% balance transfer credit card. And as seeking out 0% credit card deals means consumers will not be charged any interest on money owed, she states borrowers will have the opportunity to make headway into clearing their debts.
The benefits of taking advantage of 0% balance transfers were recently highlighted by Neil Faulkner in an earlier lovemoney.com piece who claimed such credit cards are "an extremely cheap way to borrow".
Posted by Mark Hornby
Monday, 12 October 2009 00:00
| Card | Balance Transfers | Purchases | Typical APR (variable) | Apply |
|---|---|---|---|---|
| View Full Table > | ||||
 |
Virgin Credit Card | |||
|
0%
16 mths
|
0%
3 mths
|
16.6%
|
||
 |
Barclaycard Platinum | |||
|
0%
15 mths
|
0%
3 mths
|
15.9%
|
||
 |
Egg Visa Card | |||
|
0%
until May 2011
|
0%
until Jun 2010
|
16.9%
|
||
 |
Tesco Clubcard | |||
|
0%
6 mths
|
0%
12 mths
|
16.9%
|
||
 |
MBNA Platinum | |||
|
0%
13 mths
|
0%
3 mths
|
16.9%
|
||
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% for 15 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.
- 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% until May 2011
- Balance Transfer Fee:
- 3%
- Purchase Rate:
- 0% until Jun 2010
Typical APR
- Purchases:
- 16.9% p.a.
- Balance Transfers:
- 16.9% p.a.
- Cash Advance:
- 22.9% 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% 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 51 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:
- 16.9% p.a.
- Balance Transfers:
- 16.9% 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
Balance transfer must be made within 90 days
Introductory Offer
- Balance Transfer Rate:
- 0% for 12 mths
- Balance Transfer Fee:
- 3%
- Purchase Rate:
- 0% for 3 mths
Typical APR
- Purchases:
- 15.9% p.a.
- Balance Transfers:
- 15.9% p.a.
- Cash Advance:
- 27.9% p.a.
Standard Features
- Credit Limit:
- £50,000
- 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 have a bank or building society account
- You have an income over £25,000 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:
- 16.9% p.a.
- Balance Transfers:
- 16.9% 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 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
Balance transfer must be made within 90 days
Introductory Offer
- Balance Transfer Rate:
- 0% for 13 mths
- Balance Transfer Fee:
- 3%
- Purchase Rate:
- 0% for 3 mths
Typical APR
- Purchases:
- 16.9% p.a.
- Balance Transfers:
- 16.9% p.a.
- Cash Advance:
- 27.9% p.a.
Standard Features
- Credit Limit:
- £25,000
- Interest Free Days:
- Up to 56 days
- Online Banking:
- Yes
Approval Criteria
- You are at least 25 Years of Age
- You have an Excellent Credit History
- You are a permanent resident/citizen of the UK
- You earn over £25,000 per year
Introductory Offer
- Balance Transfer Rate:
- 0% until Apr 2011
- Balance Transfer Fee:
- 2.50%
- 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 56 days
- Online Banking:
- Yes
Approval Criteria
- You haven't missed multiple payments on a credit agreement within the last 12 months
- You don't have a CCJ (County Court Judgement) or IVA (Individual Voluntary Arrangement) and haven't been registered bankrupt
- You don't already have a Barclaycard
- 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 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 A RBS CURRENT A/C HOLDER
- 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:
- N/A
- Balance Transfer Fee:
- N/A
- Purchase Rate:
- N/A
Typical APR
- Purchases:
- 7.80% p.a.
- Balance Transfers:
- 7.80% p.a.
- Cash Advance:
- 15.8% 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 21 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 an income over £20,000 p.a
Introductory Offer
- Balance Transfer Rate:
- 0% for 9 mths
- Balance Transfer Fee:
- 3%
- Purchase Rate:
- 0% for 9 mths
Typical APR
- Purchases:
- 11.9% p.a.
- Balance Transfers:
- 11.9% p.a.
- Cash Advance:
- 19.3% p.a.
Standard Features
- Credit Limit:
- Subject to Status
- Interest Free Days:
- Up to 55 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
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 6 mths
- Balance Transfer Fee:
- 2%
- Purchase Rate:
- 0% for 10 mths
Typical APR
- Purchases:
- 18.9% 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 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:
- 5.90% For Life
- Balance Transfer Fee:
- 2%
- Purchase Rate:
- N/A
Typical APR
- Purchases:
- 16.9% p.a.
- Balance Transfers:
- 16.9% 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
Introductory Offer
- Balance Transfer Rate:
- 0% for 6 mths
- Balance Transfer Fee:
- 2%
- Purchase Rate:
- N/A
Typical APR
- Purchases:
- 17.9% p.a.
- Balance Transfers:
- 17.9% 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 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:
- N/A
- Balance Transfer Fee:
- N/A
- Purchase Rate:
- 0% for 6 mths
Typical APR
- Purchases:
- 17.9% p.a.
- Balance Transfers:
- 17.9% p.a.
- Cash Advance:
- 27.9% p.a.
Standard Features
- Credit Limit:
- £50,000
- Interest Free Days:
- Up to 56 days
- Online Banking:
- Yes
Approval Criteria
- I am aged 18 or over
- I have a current UK bank or building society account
- I have a permanent UK home address
- I have a household income of at least £30,000
- I have no history of bad debt
- If self-employed, I have been working for more than one year.
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:
- 16.9% 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:
- 0% for 12 mths
- Balance Transfer Fee:
- 3%
- 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 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
Introductory Offer
- Balance Transfer Rate:
- N/A
- Balance Transfer Fee:
- N/A
- Purchase Rate:
- 4.90% for 9 mths
Typical APR
- Purchases:
- 19.9% p.a.
- Balance Transfers:
- 19.9% 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 A NATWEST CURRENT A/C HOLDERS
- 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:
- 19.9% p.a.
- Balance Transfers:
- 19.9% 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 A RBS CURRENT A/C HOLDER
- 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
