0% Credit Cards in the UK

Is It Better To Get A 0% Card Or One With Incentives?

The answer to this question depends on the reason you want the credit card. If you are trying to get out of debt by transferring a higher interest credit card to one with 0% then that is your top priority. If you want a 0% card to make a big purchase then that is your guiding factor. If you want a credit card to charge travel expenses, that will be what you look for.

There are many ways to compare credit cards. They can be compared by 0% interest rate, length of 0% interest rate, 0% for transfers versus new purchases, ongoing interest rate or APR (annual percentage rate) and finally, incentives. Once you know what your main purpose for the card will be, you can then prioritize what features you want in a credit card.

There are some credit cards that offer several, or all, features. Because not all cards offer identical things it can become very complicated to compare cards. Start with the one main purpose of your new card. If that is 0% interest for a certain length of time, start with that. Eliminate any cards that don’t offer this. Next check the time-frame that the 0% interest is offered. If you need to have at least 9 months, don’t settle for a card that allows only 6 months. You’ll be stuck either switching to another card after 6 months, or spending more on interest charges than you would want.

Many credit cards now offer both 0% interest on balance transfers and new purchases and also offer other added incentives. Make sure that the company offers exactly what you need first, then look at incentives. Experts advise against getting a credit card just for the incentives offered. In most cases you will more than pay for the cost of these incentives by interest rate charges over time. Always look at what the APR will be after the initial incentive period is over. Although you may not think this matters, you may end up with a balance at the end of the interest-free period and will end up paying this rate. These rates can differ vastly between credit card companies and can also depend on you credit history.

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.