Interest free credit on purchases for up to 56 days
Typical 15.9% APR variable
2.9% handling fee
Annual Fee: £0
Representative example
15.9% APR Representative variable
15.9% p.a. variable on purchases
£1,200 credit limit
This is an example only, you may receive a different credit limit
Capital One 'World Mastercard'
Registered office: Capital One - (Europe) plc Trent House, Station Street, Nottingham, NG2 3HX
Apply now and get a response in 60 seconds
Free Identity Theft Service
A credit limit of up to £2,500
Typical 12.9% APR variable
0% handling fee
Annual Fee: £18.00
Representative example
12.9% APR Representative variable
9.83% p.a. variable on purchases
£1,200 credit limit
£18 annual fee
This is an example only, you may receive a different credit limit
Halifax 'All In One' Credit Card
Registered office: Halifax plc The Mound, Edinburgh, EH1 1YZ
0% interest on balance transfers for 13 months
- on outstanding balances from other credit or store cards transfered in the first 90 days
0% interest on purchases for 13 months
Typical 17.9% APR variable
3.0% handling fee
Annual Fee: £0
Representative example
17.9% APR Representative variable
17.95% p.a. variable on purchases
£1,200 credit limit
This is an example only, you may receive a different credit limit
Capital One 'Progress Card'
Registered office: Capital One - (Europe) plc Trent House, Station Street, Nottingham, NG2 3HX
Designed for people with a good credit history
Shrink your interest rates to as low as 17.9% p.a. variable.
A credit limit of up to £2,500
29.9% APR typical rate variable
Annual Fee: £0
Representative example
29.9% APR Representative variable
29.94% p.a. variable on purchases
£1,200 credit limit
This is an example only, you may receive a different credit limit
Amercan Express 'Platinum Reward Card'
Registered office: American Express Services Europe Limited Belgrave House, 76 Buckingham Palace Road, London, SW1W 9AX
0% interest on balance transfers for 6months
0% interest on purchases for 6 months
5% cashback in first 3 months up to £100
Up to 1.25% after that, with no limit on how much you earn
Choose how you spend your cashback
Typical 14.0% APR variable
3.0% handling fee
Annual Fee: £25
Representative example
18.5% APR Representative variable
14.0% p.a. variable on purchases
£1,200 credit limit
This is an example only, you may receive a different credit limit
Capital One 'Classic Card'
Registered office: Capital One - (Europe) plc Trent House, Station Street, Nottingham, NG2 3HX
Apply now and get a response in 60 seconds
Poor Credit Rating? Strengthen your Credit Score
Up to £2,500 in spending power
Credit limit increase - simply use your card*, stay within
your credit limit and make your payments on time and we
will increase your initial credit limit on your 4th statement
A FREE choice of card design
Spread your payments
Typical 34.9% APR variable
Annual Fee: £0
Representative example
34.9% APR Representative variable
34.94% p.a. variable on purchases
£1,200 credit limit
This is an example only, you may receive a different credit limit
Natwest Credit Card
Registered office: National Westminster Bank plc, 135 Bishopsgate, London, EC2M 3UR
0% interest on balance transfers for 20 months
0% interest on purchases for 6 months
AirMiles
Free Travel Accident Insurance
Interest free credit on purchases for up to 56 days
Typical 17.9% APR variable
3.2% handling fee
Annual Fee: £0
Representative example
17.9% APR Representative variable
17.99% p.a. variable on purchases
£1,200 credit limit
This is an example only, you may receive a different credit limit
RBS
'Platinum Card'
Registered office: The Royal Bank of Scotland plc, 36 St Andrew Square, Edinburgh, EH2 2YB
0% interest on balance transfers for 20 months
0% interest on purchases for 6 months
Typical 17.9% APR variable
3.2% handling fee
Annual Fee: £0
Representative example
17.9% APR Representative variable
17.95% p.a. variable on purchases
£1,200 credit limit
This is an example only, you may receive a different credit limit
Bank of Scotland
'All in One Card'
Registered office: Bank of Scotland, The Mound, Edinburgh, EH1 1YZ
0% interest on balance transfers for 12 months
0% interest on purchases for 12 months
Typical 17.9% APR variable
3.0% handling fee
Annual Fee: £0
Representative example
17.9% APR Representative variable
17.95% p.a. variable on purchases
£1,200 credit limit
This is an example only, you may receive a different credit limit
Credit cards, balance transfers, credit scores ...how does it all work?
Benefits, fee's & pit falls
There are a number ways you can use a credit card. Some can be beneficial and some should definitely be avoided! If you plan on using a credit card for an existing debt, sit down, look at your outstanding balances and see if a credit card is the best way to consolidate and move forward. Credit cards can often be a more attractive alternative to personal loans. Low life time balance transfer rates can often be lower then personal loan APRs, and if you wish you can pay off a little extra from time to time without any charges (please note, some loan products now offer this). A good example of a low life time balance transfer rate is the Capital One - One Rate Card. If you can divide your debt into affordable monthly amounts and calculate to pay your debt in full, then a good example is the Virgin Money Credit Card offering a full 16 months interest free on balance transfers.
The best way to use your credit card of course (and certainly for purchases outside promotional periods) is to pay off the outstanding balance in full each month. You can then take advantage of the interest-free period which varies from card to card and can be up to 60 days... meaning that if you make a purchase at the beginning of your statement period you could effectively be benefiting from up to two months interest free credit. Take a look at the NatWest Credit Card as a good example. An additional benefit is that your purchases maybe insured by your credit card company and covered against damage during delivery. Some credit cards companies offer further insurances which you can find listed along side credit card features.
'Negative Payment Hierarchy'
If you choose to only meet your minimum payment every month you can be in for an expensive ride. Unlike personal loans the minimum payment drops each month, while this may look attractive it means it will take you longer to pay off the balance and the interest accumulating has the credit card companies rubbing their hands. More so if you use the same card for different types of transactions...
If you have, for example, a 12 month interest free promotional rate on balance transfers, then after transferring a balance you make a purchase and your credit card rate for purchases is 16.9%. You'll be paying for the debt that has the highest interest rate first (in this case the purchase), this is known as 'Negative Payment Hierarchy'. More over, if you were then to make a cash advance at (for example 21.9%) this jumps to the front of the queue making the total debt on the card a very expensive one to pay back. This effectively wipes out your balance transfer interest free period. Unless of course you can afford to pay a large amount of the debt within your next statement period. In short, avoid getting yourself in a muddle. If you need credit for more than one reason, use more than one credit card and choose the most appropriate for each.
Repair poor credit
The first thing to do if you think (or know) you have a bad credit rating, is to actually view what companies see when deciding whether or not to approve your application for credit. You'll be pleased to hear that this first port of call if free! Simply get your Free Experian 30 Day Credit Report here You'll then be able to see everything from your current available credit, your total debt, accounts, search dates companies have made when viewing your credit file and your actual credit score. Although it makes good sense to keep the access to your credit report after the 30 day trial (so you can see how the steps you take positively affects your rating), you can cancel the subscription before the end of the trial incurring no cost.
You may want to consider the Capital One Classic Card it's designed for people with poor credit. Although it has a high APR, you can demonstrate that you are now a trustworthy borrower. Just make a few small purchases using the card and make sure you pay the balance in full every month, this will go along way in your road to recovery. Other steps you can take to repair your credit rating are as follows:
Make sure you're enrolled on the electoral register.
Make sure you have a Contract Mobile Phone as appose to to pay-as-you go, just make sure you pay the bill on time each month.
Set-up direct debits for all your bills.
Close down old credit card accounts that are just sat around with no balances on them. The amount of available credit you have is considered by lenders and can go against you when applying for new credit.
Conclusion
So there is numerous ways to approach lending with credit cards. Plan your route, first up understand your credit report and rating. Take the appropriate steps to repair your credit if necessary. Make sure you have direct debits set-up for bills and are on the electoral roll. Choose the best card for the type of balance you are dealing with. Keep different type of debts on separate cards so to avoid 'Negative Payment Hierarchy'. Try to avoid paying the minimum balance each month. Follow these simple steps and you can enjoy the benefits that credit cards can offer, rater than being the victim of poor spending habits, bad credit and spiralling debt. If you feel you need further help with your debts you can contact the Citizen's Advice Bureau
We hope you find this advice helpful and bag your perfect credit card deal here at Shop4offers.co.uk -