0% Credit Cards in the UK

Are 0% Or Low Interest Credit Cards Hard To Qualify For?

In general, the better your credit rating, the better deal you can get on a credit card. If you have poor credit, you may not be able to qualify for a new credit card at all, or if so, you may not be eligible for benefits such as low interest rates.

There are other special offers, which you may not qualify for if your credit is less than stellar. Some credit card companies offer air miles, points or cash back for purchases made with their card. These incentives help convince consumers to spend money using the credit card when they may otherwise not have done so. The rule of thumb to follow is to spend only what you can pay off in full at the end of the month. Otherwise, you will be paying more in interest. Once you get a large balance on your credit card, you will end up paying only interest each month and will never pay off the credit. Financial experts recommend you look at your credit card as if it were a debit card. In other words, spend only the amount you have available. Spending within your means will allow you to owe less and pay less finance charges.

Sometimes credit cards may offer short-term cashback of up to 2% of your spending. In addition, you can ‘double up’ by using a store loyalty card, such as ‘Tesco Clubcard”, “Nectar Card” or “Boots Advantage Card”, along with a cashback credit card. However, no matter what incentives you have, make sure you pay off your monthly credit card bill in full each month. Otherwise, the interest charges will outweigh the cash advantages you accrue.

Generally, you should be able to qualify for a 0% interest card. The credit companies are very competitive now and are offering good deals to get you to take their cards. Be sure you compare interest rates, incentives and the length of time the balance will be at 0%. Read the fine print to make sure you know about any added charges or fees. Then make an informed decision.

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.