Best UK Credit Cards

A credit card can be useful in a number of different situations. You’ve got the one off emergency – that crack in the car windscreen or the broken down washing machine. Or perhaps the big treat – the holiday in the sun or the new TV. A credit card can even be used for day to day shopping. People use credit cards in many different ways. And banks provide credit cards to cater for this.

If you’re in the market for a new credit card then the best advice is to shop around. There are plenty of options out there to suit different uses. Think about how you’re going to use it, and this will help you select the card to match your needs. Credit cards vary widely in their interest rates, but this won’t be a concern if you plan on paying the card off in full each month. If you are going to use the card to borrow, then think about the kinds of transactions you’ll be primarily using, since interest rates on purchases are often different to interest rates on balance transfers. If you’re planning on using the card abroad, pay attention to any fees or charges that apply for international purchases.

So what are some of the the best UK credit cards? If you’re over 18 and have a regular income, there are many to choose from. Here are four cards that suit a range of needs:

-          Halifax One

The Halifax All In One credit card offers a good rate for both balance transfers and purchases. It’s got a 0% rate on balance and purchases for the first 13 months. This gives a lot of flexibility in transferring money and using your credit card for those big purchases.

-          NatWest YourPoints World MasterCard

This is a good one for existing NatWest Customers. It allows you to accrue points towards all manner of purchases – holidays, flights, cosmetics, books. It’s got an interest rate of 17.95%, with an introductory offer of 0% on balance transfers and purchases for 13 months.

-          NatWest student credit card

Just because you’re a student doesn’t mean you should be denied a flexible friend. Most banks offer credit cards specifically tailored toward students. This one from NatWest has an interest rate of 18.9%. It’s got a maximum credit limit of £500, which is a good way for first time credit card holders to keep in control of their finances. It’s also got a whole host of discounts on everything from DVD rentals to iPods to wine club membership.

-          RBS private card

At the other end of the scale is this card for RBS customers with a large income. The minimum income required to apply for this one is £100,000, or a £150,000 joint income. It’s got a 0% interest rate on balance transfers for 13 months and on purchases for 6 months. After this introductory period, you get a very low interest rate of 14.94% for both. The minimum credit limit is £5,000.

Whatever your circumstances, there are credit cards out there to suit your needs; it’s just a question of knowing what you’re after and where to look.

Vanquis Credit Card | The Credit Repair Card

If you have recently had a credit card application declined because you are new to credit, have a bad credit history, bad credit rating or are on a low income then the Vanquis Visa card card will be a way around this.

The Vanquis Visa Credit Card could give you back your financial flexibility you so badly need. It could help you in the right direction in terms of getting your credit rating repaired. Here are the handy benefits:

 

• No annual Fee
• A fixed credit limit
• 56 days interest free on purchases
• Additional card holder
• Free fraud monitoring
• Pay for good online
• Visa widley used in UK and abroad
• Typical 39.9% APR Variable

Virgin Credit Card 0% Balance Transfer 16mths

With one of the longest 0% Balance Transfer periods, Virgin Credit card now make it easier for you to manage any high interest balances you may have. The Virgin Credit card has always been one of the fore runners in the Balance transfer market.

If you have any store card balances that are charging high interest rates then now is the time to transfer those balances. Credit card companies don’t seem to be reducing their rates in line with the Bank of England interest rates. Act now and save a fortune in interets charges.

Cashback Credit Cards Popular in a Recession

In the current economic climate people are tightening their belts more than before making the Cashback credit card very popular. Also known as Rewards cards they offer the card holder an opportunity not to only have a competitive rate but the opportunity to earn points or money back depending on the amount spent.

As the credit card companies don’t like to give anything away for free, these type of cards are quite rare but they do exist. The American Express Platinum Card has always been a popular choice when searching for these type of cards. At the time of writing this they offer 5% cashback for the first 3 months of the card up to a total of £4,000.

Cashback cards are really aimed at those who clear their balances in full every month as the rates that are charged on these cards is quite high. Amex is currently charging 18.9%. There are other cars out there that also offer cash back like Barclaycard, Egg and MBNA. The Citi Shell Mastercard has an attractive 3% cash back on fuel spending, they have a rate of 16.9%

Credit Cards Holders Given Breathing Space

To a great sigh of relief, credit card holders have been given 30 days to work out difficulties in paying off their debt. The grace period will give card holders a chance to work out a payment plan using one of the free debt advice agencies.

If a managent plan is not agreed after 30 days activity will be suspended for a further 30 days. The Government have implemented new industry standards which require card companies to give you at least 30 days warning that they are about to increase your interest rate. This will give those that are already struggling to manage their credit cards a chance to cancel their account or even transfer the balance to another credit card. You may also be given the chance to transfer your balance to a personal loan with the same or a more competitve rate.