0% Credit Cards in the UK

Are Credit Cards good for other things?

Financial planners advise people who have gotten into credit card debt to get rid of all their credit cards and live within their means. Sometimes, however, we all need a credit card for certain things. If you are going on holiday and want to rent a car and book a hotel and airfare, you must have a credit card. If you want to buy something through a catalog or on line, you need to have a credit card.

If you want to use your credit card for these things, that is fine. However, what you should do is make sure that you have the money in the bank to cover these expenses at month end when the statement comes. If you must, advises a financial planner, write a check to the credit card company at the same time you make the purchase. Put the check in an envelope and hold it until your statement comes. This way, you will have the money to cover the charges you are making.

You also need to have a credit card in order to keep a good credit rating. This sounds backwards, but it isn’t. Your credit score is based on how much credit you have and how well you pay it back. You need to have a credit card to show that you can pay off the balance, or close to it, each month. Your credit rating affects the interest rate you pay for everything you buy on credit including a home, a car and credit cards. You should always try to keep the balance on your credit cards at about 50% or less than the amount of credit available. In other words, maxing out your credit cards will not only cost you a lot in interest, it will hurt your credit score as well.

In general, you may want to keep one or two credit cards that you use for travel and emergency purposes only. Try to keep your use of them down to a minimum and pay off as much as you can each month to keep your credit good.

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.