0% Credit Cards in the UK

Are Credit Cards good for emergencies.

Most financial advisors agree that it is fine to keep a credit card for emergencies, if you have good self-control. There are plenty of times when you may need one. Any number of situations come up that require immediate payment and cash is not an option. Just be sure you can cover your expenditure with cash at the end of the month, when the payment is due.

Financial experts encourage you to keep your credit card at home instead of in your wallet if you have a history of uncontrolled spending. You will have it available if needed but will not be tempted to use it for non-emergency purchases. Most people get into financial trouble when they run up their credit cards to the maximum. At that point, you are paying mostly just the interest with each monthly payment. It has been found that on a maxed out credit card it could take 25 or more years to actually pay off. And that is if you are not adding any more charges!

When you choose a credit card to keep for an emergency, you should still be aware of the APR (annual percentage rate) charged. Get a card with the lowest possible APR. Also, choose a card with no annual fee. Most credit cards have stopped charging a yearly usage fee. Avoid that if possible. Get the credit card when you still have good credit. Keep it stashed away so you don’t use it for everyday items.

Financial experts say that you should always have 3 - 6 months worth of living expense in cash savings as a cushion. That way, if an emergency comes up you will be able to handle it. You could lose your job or have unexpected medical expenses. The credit card can still be kept as a back-up. But don’t use the credit card to live beyond your means. You will end up paying much more than something normally costs and you are still paying for them long after they are gone. Keep your credit card put away and use it for emergencies only.

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.