Throughout the United Kingdom, the UK credit card is popular and used often. Just as with cards provided to consumers in the United States, a UK credit card can be used at various merchants, whether a grocery store, retail shop, gas station, and so on.
Today, the market for a UK credit card is highly competitive and because of this, banks and card companies now offer all types of attractive offers for people to consider. For instance, you will find some cards that offer a 0% interest rate for balance transfers that will lock in for nine months and others that have the same interest rate but for six months.
Keep in mind, each UK credit card has a set Annual Percentage Rate or APR. This means after the six or nine-month period of enjoying 0% interest rate on any balances transferred to the new card, a new interest rate would go into effect. Usually, the rate provided after the introduction period is fair but unfortunately, some card companies and banks will take advantage of hard-working consumers by boosting the rate extremely high.
When looking at one UK credit card after another, along with the APR before and after the introductory period, as well as the duration of the introduction period, you will find a number of cards that are also liked to some type of reward program. One of the more popular options is receiving cash back offers in addition to a low interest rate and long duration for the introduction period on balance transfers. Some UK credit cards offer the 0% APR not just for balance transfers but also on all purchases for a predetermined amount of time.
The great think about using a UK credit card for a balance transfer is that if you have one or more existing cards with high interest rates, you could move those outstanding balances to the 0% APR card. Now, for this to be beneficial, the goal is to pay the full balance of all transferred cards within the introductory period. However, if you can find a UK credit card with a low APR after the initial period, you would still come out ahead financially but if the APR jumped high after fix, nine, or twelve months of enjoying 0% APR, then the UK credit card could get you in more trouble.
Although the list below of UK credit cards is not all-inclusive, it does provide you with the most popular choices for UK credit cards. as with any credit card, make sure you read carefully the terms and conditions for each offer. Because these cards come in so many different types and each with different benefits, it is important to look at the benefits, as well as details for interest rate, fees, and terms closely before locking into any card.
