0% Credit Cards in the UK

Are there any cards to avoid?

When deciding on a new credit card you should shop for the best one, just as you would shop for any item. You need to decide what features of the new credit card are the most important for you. With 0% credit cards there are several features to think about. First, determine how you want to use the 0% card. Some are designed to provide 0% interest on any balance transfers for a certain period of time, usually 6 to 9 months. After the initial grace period, the credit card charges interest on the unpaid balance, just as any credit cards do. Other cards are set up to provide 0% interest on any new purchases for a period of time. Then, there are cards that provide for both. The key is to find a card that suits your needs and provides the lowest APR (annual percentage rate) after the initial period.

Be careful with loyalty schemes. These are added benefits or perks that are offered by some credit card companies. You need to weigh the factors involved. The card may have a higher APR but offers travel points or something similar. Unless you pay off your balance each month, the cost of the higher APR could be more than the benefit you receive from the points. In most cases, it is best to choose the lower APR.

Avoid the credit card offers you receive in the mail. Although many of them say you are ‘pre-approved’ there is still a credit check done to determine eligibility. You should compare all the possible cards and not just the ones that sent you a mailer. Read the fine print. Make sure that there are no hidden fees that you are unaware of. Make sure you check into the small print. Sometimes there are annual fees or handling fees tacked onto your balance. Unless you have a low credit score, steer away from any cards that have an annual fee. These fees have become almost obsolete, so you should be able to find a card that does not charge one.

There are more and more credit card companies competing for your business. The smart consumer will spend some time comparing the various offers and choose the one that fits your specific needs. When possible, go with a well-known company, they usually offer good deals and have better customer service departments.

Eligibility for offers for 0% credit cards usually (but not always) depend on the credit score of the applicant. If you have a high credit rating, you're much more likely to qualify. It's worth applying, though, because usually they'll offer you a low-interest credit card even if you don't apply for the zero-interest offer.

Some of the top no interest credit cards offered in the UK include Citi Platinum Select Card, which offers 0% APR on balance transfers and purchases for a period of 12 months. They offer ?0 liability on unauthorized purchases and do not charge any annual fee. The 0% card has a regular APR of 10.74%. Chase Platinum Credit Card, too, offers 0% credit cards for 12 months or for 3 months, depending on the credit history of the applicant.

Blue from American Express features a 0% introductory APR up to 15 months and charges no yearly fee. The card's regular APR is about 11.74% and applicants do not have to have an exceptional credit record in order to get this credit offer.

There is also Blue Cash from American Express, which offers 5% cash back on all qualified purchases. This offer for their 0% credit cards is for six months and they do not charge an annual fee.

With Value Miles Platinum Visa Card, (a frequent flier credit card), the card holder can earn one value mile for every dollar spent. With 24,000 miles you earn can get an airline ticket for any nearby destination. They also do not charge yearly fees and the 0% interest applies to the first 12 months.

HSBC Platinum Master Card offers 12 months of 0% APR and it benefits include unlimited purchase protection and insurance for travel accidents. Their regular APR is 10.74%.

Citi Diamond Preferred Rewards Card offers a ?50 gift card and for every ?1 spent on purchases in drugstores, supermarkets and gas stations can card holders get 5 reward points and 1 point for every other purchase. Of a similar type is the GM Flexible Earnings Card, which offers 0% introductory APR for a year which presents a full one-percent cash back choice, otherwise the cardholder can choose a one-percent earnings towards any new GM vehicle.

Other companies that offer 0% credit cards also include Starbucks Duetto Visa for six months and Northwest Airlines- WorldPerks Visa Platinum Card, which has a credit line up to ?7,500 and a 15,000 miles annual WorldPerks travel reduction. The Northwest card does charge an annual fee of ?55, though.