You might be scared of credit due to multiple reasons including the interest rates and annual fees you have to pay for the same. However, it all depends on the way you make use of them. If you use them wisely, they will prove beneficial in many ways. If you search in the UK card market, you can get some of the best deals available. Here is a detailed list of few of the best credit cards in the UK which come up with the deals like 0% credit, travel, cash back, rewards, balance transfer and many more.
As we all are aware some of the credit cards offer 0% balance transfer for a long duration as an introductory offer, while some offer you purchases completely free of interest. Lloyds bank provides you both these things in a single card. These offers are given for 29 months. Along with 0% balance transfer period and 0% interest-free period of 29 months, you are charged transfer fees of 2.5% on transfers in the first 90 months. Purchase representative APR is 18.9%. The extra benefit you get from this card is the purchases for 29 months. All these benefits of Online Platinum card from Lloyds is have marked it as one of the best credit cards available in the market at present. Most of the accounting services will also suggest you the name of this credit card.
This credit card is best for those who want to transfer their available card balance with 0% introductory rate for the maximum time period and for a market-leading 36 months. It also provides you with 3 months of 0% rate purchases. The APR applied after that will be 18.9%. You also get the benefit of collecting Clubcard points on your expenses in Tesco which is the largest supermarket chain of UK. The transfer fee you have to pay is 2.69% on every transfer.
This credit card from Sainsbury’s Bank is very much different from any other credit cards. It is a 0% balance transfer credit card and 0% purchase credit card combined into one. Both these benefits of introductory rates can be gained for 27 months. This card is more beneficial for regular shoppers of Sainsbury’s as they can earn up to 5000 Nectar points on their purchases including fuel in the first 60 days and 2 points for every 1 Pound spent thereafter. The purchase representative APR for dual offer credit card of Sainsbury’s bank is 18.9% and a transfer fee of 2.90% is charged on the transfers made within the first 90 days.
Most of the credit cards in the UK don’t charge any annual fee. If any bank charges it, then you have to make sure that you get some benefit in return. Santander all in one credit card charges you the annual fee of 3 Pounds, but I return you get 0% credit card and interest-free purchases for full 30 months. There is no transfer fee applied on the balance transfer. You can also get the cashback of 0.5% on your purchases. This card is also great for using during tours as there is no foreign transaction fees applied on purchases. Representative APR is 15.9%. So, it is also one the best credit cards available in the UK cards market.
There aren’t many options for cashback credit cards available in the market. However, American Express Platinum Cashback Credit Card can gain your attention. It offers a good 5% of cashback on your expenses through the card with in the first 3 months. The maximum cashback amount can be 125 Pounds. Annual fee of 25 Pound is charged on the card, but you have a facility of spending 2500 Pounds every year. There are extra benefits for members like refund protection and purchase protection on their expenses. Representative APR is 22.9%.
Apart from these 5, there are several other credit cards in the UK which can be beneficial for you. You can also get recommendations for the same from accountants when you visit them for seeking general financial advice. So, choose the one suitable to your needs and enjoy the benefits.