Credit Card FAQs

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RBS Platinum Credit Card

Typical 16.9% APR (Variable) . 0% on balance transfers for 16 months (2.9% fee) and 0% on purchases for 3 months from account opening

Egg Credit Card

17.9% APR Typical Variable. 0% on balance transfers until 1st November 2011 (3% fee applies). 0% on purchases until 1st December 2010

Post Office Credit Card

16.9% APR Typical rate (variable) 0% for 12 months on balance transfers (2.98% handling fee applies). 0% for 3 months on card purchases

VIRGIN CREDIT CARD

16.6% APR (variable) Typical rate. ( 2.98% handling fee applies). 0% for 3 months on card purchases

Vanquis Credit Card

Typical 39.9% APR variable Available to people who have had CCJs (now cleared) or credit problems in the past Credit limit designed to suit your personal needs

Halifax All In One Card

15.9% APR Typical rate (variable). 0% for 10 months on balance transfers (3% handling fee applies). 0% for 10 months on card purchases

aqua Credit Card

Could aqua be the credit card for you? Typical 35.9% APR (variable). A sensible credit limit of up to £2,200. No annual fee  

Creation Credit Card

16.9% APR (Variable) Typical rate . 0% for 15 months on Balance Transfers (2.98% handling fee applies). 0% for 3 months on card purchases.

There are basically four different reasons for taking out a credit card

- To transfer a balance from an existing credit card

- To use for purchasing goods and services

- For using overseas

- To earn cashback or credit card rewards

It is unlikely that you`ll find one credit card that`s good in all of the above scenarios, so you may well find that you have two or three credit cards in your purse or wallet, and there`s nothing wrong with that as long as they are used responsibly.

I`ve seen advertisements for 0% credit cards which sound very appealing, are there any catches that I should watch out for?

It`s worth considering 0% credit card balance transfer deals if you have existing credit debt which you are paying interest on. Every penny from repayments you make during the 0% period will go to reducing your debt, so without the additional burden of interest charges your credit card balance will be repaid much sooner. Be aware that you will have to pay a balance transfer fee, usually between 2.5% and 3% of the amount of the balance transferred. Don`t be tempted to make purchases using your 0% balance transfer card otherwise you`ll be stung for interest. If you don`t carry your card with you in your purse or wallet, you won`t be tempted to use it in a moment of weakness.

I don`t have a balance to transfer but would like to get 0% interest on my purchases, is this possible?

A credit card offering an introductory 0% interest on purchases will allow you to shop interest free for a limited period. So if you're a big shopper, this could be just the deal for you.

I tend to use my credit card quite a lot when I travel abroad, can I take any credit card with me or are some better than others?

If you want to want a credit card to use when you`re on holiday overseas, make sure you won't get charged a fee for each time you use it. If you are a regular traveler overseas it`s worth looking at taking out a card from Nationwide Building Society specifically for this purpose as there are no foreign loading charges for using their cards abroad.

I would like to earn rewards points or cashback on my credit card spending, are there any catches with these types of cards?

If you use your credit card regularly and you pay off the full balance every month, it makes sense to opt for a credit card that gives you reward points or cashback in return. The interest rate on these cards isn`t important if you always pay your balance off in full, it`s more important to find the reward or cashback scheme that`s right for you.