Credit card deals

With more than 1,300 different credit cards currently in use in the UK alone, competition for your spending on them is fierce. Therefore, it pays to regularly search out the best credit card deals, as even a small drop in interest charges or a zero or reduced interest rate special offer for a few months can make a real difference to your wallet.

There are fewer special offers around than during the boom times when credit was more freely available, but the situation changes every week and there are some great credit card deals out there.

There are numerous websites that allow you to compare credit cards, including the best 0% credit card deals. Simply searching for ‘credit cards’ reveals many of them. The best clearly show any joining conditions each card has, such as an age limit or minimum salary requirement. Use comparison sites that update their details daily.

However, it is not just the typical APR rate that you should be looking at to find the best deal credit card. Most credit cards now have a variety of special offers and other rewards.

These could include discounts on top brands, offers on wine and travel services, commission-free purchases abroad, free text/email bill reminders, free purchase protection insurance, cover against online fraud and many other offers. Some of these could be very advantageous - for example, if you travel regularly abroad, a card offering commission-free purchases abroad could soon reap regular sizeable savings.

Many cards operate rewards schemes to encourage you to stay loyal to that card. These are typically for items like petrol, eating out, shopping, travel and wine, and should be taken into account when looking for the best deal on credit cards.

You could do a balance transfer on credit card and with many cards you will enjoy a period that is interest-free, typically between five and 16 months. Before you transfer credit card balance check whether a fee is charged to do so, and if so, for how much. Typically the fee varies between 0% and 3%, which should be taken into consideration when looking for the best credit card deal.

By Ben West