Six practical tips for choosing UK credit card deals

A Guardian guide outlines six practical ways for UK consumers to pick the best credit card deals, covering how APRs work, 0% balance transfers, eligibility checks, spreading large purchases, travel rewards and cashback options. The guide explains APR is the annual percentage rate that shows the total cost of borrowing over 12 months and that advertised rates are usually labelled “representative”, meaning they are offered to at least 51% of approved applicants; individual rates can still vary by credit score.

It highlights 0% balance transfer cards as a way to cut interest: Moneyfacts said the average 0% balance transfer term was 585 days (19 months) in December, with 64 cards offering introductory deals and an average transfer fee of 2.51%. The piece cites a UK Finance survey that nearly half of credit card users pay interest and gives an average debt of £2,660, which could be cleared in two years by repaying £115 a month; at the current average 2.51% fee, moving £2,660 would cost about £66.77.

It notes Compare the Market listings “at the time of writing”, including a TSB card with 0% for 38 months (3.49% fee), a Barclaycard 15-month 0% deal with no fee and £20 cashback, and a Capital One 23-month 0% product for customers with poor credit (2.9% fee). Readers are advised to use eligibility calculators (for example on MoneySavingExpert or Compare the Market) to see offers they are likely to be accepted for before applying.

Key Topics

Business, Uk Credit Cards, Balance Transfer, Apr, Uk Finance, Moneyfacts