Credit Cards

What Are The Different Types of Credit Cards?

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There are a few different types of credit cards you need to know about. Each has its own benefits, so think about the reason why you want a credit card and pick the type which works best.

Rewards Credit Cards

These are pretty awesome, they give you back rewards just for using the card when you go shopping. With reward cards you usually get cashback, travel miles or shop discounts.

0% Purchase Credit Cards

These are pretty handy if your buying something big like a sofa, TV or booking a holiday.

They allow you to spread the cost of what you are buying over months without paying any interest on the money you’ve borrowed.

Credit Builder Credit Cards

If you have a low credit score and want to build it back up then Credit Builder Credit Cards can help!

They usually have pretty high interest rates so make sure you can pay the balance off in full every month before you get one of these.

Balance Transfer Credit Cards

Most people use balance transfer credit cards to reduce the amount of interest on an existing credit card.

You can usually transfer your existing credit card balance onto your new balance transfer credit card.

What Are 0% Purchase Cards?

0% Purchase Credit Cards are a lifesaver when you really need to buy something or are in an emergency!

They allow you to spread the cost of what you are buying over months without paying any interest on the money you’ve borrowed.

So if you need a new boiler, sofa or want to book a holiday, 0% spend credit cards come in handy.

The trick is to make sure that you can pay off the full balance before the 0% interest free period is over. Otherwise you will get slapped with a fat bill…no one wants that.

What are The Best Credit Card Deals?

British Airways Premium Plus Credit Card
Balance Transfers
0%
Purchases
23%
Interest Rate (Variable APR)
23% APR

5,000 bonus Avios when spending £1,000 within the first 3 months of Card membership. T&Cs apply. Balance transfer facility is only available on request and at the discretion of Amex.

M&S Bank Reward Plus Credit Card
Balance Transfers
0%
Purchases
0%
Interest Rate (Variable APR)
20% APR

Get double reward points on all M&S shopping for the first 12 months and a £20 M&S voucher on your first spend. T&Cs apply. Transfer a balance within 90 days of opening an account to get the 0% deal; otherwise the rate will be 19.9% p.a. variable with a 2.9% fee.

Sainsbury's Bank Dual Offer Credit Card
Balance Transfers
0%
Purchases
0%
Interest Rate (Variable APR)
21% APR

Sainsbury's Bank may offer you a 0% interest period on balance transfers and purchases of 27, 23 or 19 months depending on your individual circumstances.

Aqua Classic Card
Balance Transfers
30%
Purchases
30%
Interest Rate (Variable APR)
30% APR

Your credit record could be improved by using a credit builder credit card and making repayments on time.

Marbles Credit Card
Balance Transfers
30%
Purchases
30%
Interest Rate (Variable APR)
30% APR

Your credit record could be improved by using a credit builder credit card and making repayments on time.

FlexiCard Credit Card
Balance Transfers
0%
Purchases
10%
Interest Rate (Variable APR)
9% APR

One simple low rate, and you can set up instalment plans online to help manage your repayments. 0% fee on balance transfers made within the first 90 days

Sainsbury's Bank No Balance Transfer Credit Card
Balance Transfers
0%
Purchases
2%
Interest Rate (Variable APR)
21% APR

No Balance transfer fee applies to transfers made within your first 3 months. The charge will depend on your current offer thereafter. Sainsbury's Bank may offer you a 0% interest period on balance transfers of 16, 14 or 12 months, depending on your individual circumstances.

Halifax Balance Transfer Credit Card
Balance Transfers
0%
Purchases
0%
Interest Rate (Variable APR)
20% APR

Get 0% for up to 29 months on balance transfers made within 90 days of account opening

Barclaycard Platinum Balance Transfer
Balance Transfers
0%
Purchases
22%
Interest Rate (Variable APR)
22% APR

£20 cashback when you transfer a balance of £2500 or more within 60 days of opening your account. Offer ends 5-Feb-2020. Transfer a balance within 60 days of opening an account to get the 0% deal; otherwise the rate will be 21.9% p.a. variable with no fee. The duration of the introductory offer may vary depending on your personal circumstances.

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