0% Credit Cards in the UK

Is There A Difference Between Credit Card Debt and Debt From A Mortgage?

Having a credit card is important to get new credit and improve your credit score. Most people have too many credit cards, though. A recent survey showed that most people have between 6 and 15 credit cards. Financial advisors recommend that you have 2 to six. What you do with your credit cards is often more important than getting them in the first place. You should try to pay off your balance each month. That way, no interest charges accrue. A good rule of thumb is to purchase only what you have money in the bank to pay for.

Each time you apply for a new credit card, they check your credit records. This in itself takes points off your credit score, sometimes as many as 20 points. Try not to apply for too many new credit cards. Keeping one or two, though, are essential for most everyone, especially for those who travel.

If you make late payments on either your credit card or your mortgage, you will be reported to the credit company. Late payments show that you can’t handle debt and lower your credit score. When companies look at your credit history in order to provide a loan or credit card, they will look to see that all payments were made on time in the last 12-month period. Make sure that you make all your payments on time. If you have a credit card that is maxed out, you may want to think about getting a 0% interest credit card to help you out of debt. The way this can help is that you transfer the balance to the new credit card. You are then not paying any more interest for the time period of free interest on your new card. You can then catch up by making monthly payments until the balance is paid off.

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.