What to look for when choosing a new credit card in the UK

There are bargains to be found if you use your credit card in the right way. But there are so many different deals and offers that it can be confusing when you are looking for the best deal for a credit card account in the UK. We picked out some basics to look out for.

  1. Look for providers who offer 0% interest for new customers. This is obviously for a limited period but it has become such a standard enticement that it is now almost expected.
  2. Look for 0% interest on balance transfers. If you have substantial borrowing on your present card, this can give you an interest holiday in which you can try to pay off as much of the balance as possible before the interest charges kick in. This is normally after 12 months, but shop around for longer interest-free deals.
  3. If you use your credit card a lot, for everyday things like groceries and petrol, look for bonuses like cashback deals offered by companies like Santander (www.santander.co.uk) or Capital One (www.capitalone.co.uk). Do the sums carefully, and make sure you pay back your borrowing straight away, or your interest payments could exceed your cashback payments.
  4. Look for cards which offer discounts on online shopping. This is becoming more common, and is not restricted to specific store cards, Any savings will help keep your credit balance down.
  5. Comparison sites like www.moneysupermarket.com and www.creditsearcher.co.uk can help you make detailed comparisons of all the deals and offers, and come up with the best deal for for a credit card in the UK.

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