Credit card deal uk
Most credit cards offer 0% APR (Annual percentage rate) for an introductory period after getting a new card. To decide which of these are suitable for you, the usage, credit balance and credit history have to be taken into account.
High Spending Customers with Low Transfer Balance: The Halifax Master Card would be ideal as it offers a 0% APR for new purchases for 10 months and 0% on balance transfers (also for 10 months) with a 3% transfer fee. The APR after 10 months would be around 15.9%
High Spending Customers with High Transfer Balance: The Virgin Master Card offers a balance transfer at 0% for 16 months and a 2.98% balance transfer fee. It also offers new purchases at 0% for the first 6 months. Equally good, if you are in a position to pay a small interest from the start is the Barclaycard Platinum Credit Card with Purchase and Long Term Balance Transfer which has a 6.5 % interest on balance transfers until paid in full and no balance transfer fee. It also has a 0% interest on new purchases from 10 months of account opening.
Regular Monthly Payback Customers: You do not have to be worried about APR so you can go in for ones with great cash back and reward point offers. The Amex Platinum has cash back offers 5% for the first three months and 1.5% after that and does not have any annual fee. The Capital One Low Rate (Master Card) is equally a good bet. It offers a 0.5% cash back and it has the lowest APR among most credit cards of 8.5% (valid till 2012) so you can hedge your bets by going in for it if you are planning on a spending spree and are not confident about your monthly payback. This Master Card also does not have any balance transfer fee. The Amex Nectar is the best option for people who use and collect nectar points regularly. You get a bonus of 5000 nectar points on your first transaction and 4 points for every £1 spent (double for the first three months).
In conclusion the Virgin Master Card and the Barclaycard Platinum Credit Card with Purchase and Long Term Balance Transfer have very good interest free offers and although they may have a slightly higher APR they are best suited for people with a higher transfer balance. Finally taking everything into account the best choice for an interest free credit card for an average user will be the Halifax Master Card for its well rounded offer.
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