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
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 Your Points 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.