What sort of credit card can I get?
If you’re looking at getting a credit card (maybe it's your first card), you’ll quickly discover that there’s a huge choice out there – which one you go for depends what you want from the card and your spending habits.
You can choose from reward cards that give you back treats and perks – such as air miles, vouchers or cashback – whenever you use your card to buy something. Reward cards work on the principle of ‘spend more, earn more’ (although some have caps on how much you can earn, particularly cashback cards), but you need to ensure the rewards you’ll get are worthwhile for you. Find out more in our guide to reward cards.
Also popular are credit cards that don’t charge interest for balance transfers or new purchases – some cards offer both. The interest-free offers are usually for a limited time, ranging from one month to more than two years. You might want to consider one of these cards if you have an existing debt that you want to reduce or if you know you have some expensive purchases coming up. You’ll be able to spread the cost of what you owe without the added burden of paying back interest (but always make sure you know when the interest-free period ends and pay off the minimum amount each month to avoid charges).
You can also opt for low APR cards that have a consistently low interest rate for the life of the card. Some of these cards will also offer you zero interest, but typically this will be for a very limited period (usually between one and three months).
If your credit score isn’t great or you don’t have a credit history and need to build one up, then credit building cards could be the ideal solution.