0% Credit Cards

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You may think that 0% Credit Cards are what you need to help your finances, but while these deals are useful sometimes and we feature many of these on this site, we would like to open your eyes to some other options available to you. Such as cards with a low rate forever rather than a 0% introductory rate and many other attractive offers that maybe better for your finances than one of the usual 0% offers.

Now Credit Cards is an independent website bringing you the latest plastic finance information. Here you will be able to compare the card deals being offered by companies right now. It doesn’t matter if you are looking to change your card for a lower rate, 0% card or if you are looking for a card for the first time. We want to make sure you have all the information at your disposal.

Our team of experts has researched the deals on the market to detail a large selection of cards available and link it to the application website. The tables seen on this site are going to offer a quick look at the cards and their top rewards. While this is a quick glance to choose the cards that look the best, you shouldn’t stop there. We have more information regarding the terms and conditions of the cards attached to the site. This helps you determine the more important matters such as fees, repayment options, and often the things we forget to compare.

Cards are useful, but you need to take care not to get to in debt with them and use them responsibly. If you do find yourself in more credit card debt than you are comfortable with there are places you can turn to for help such as the Citizens Advice, Money Made Clear Website and you can read our report on how to get out of credit card debt. We also have a list of websites which can help and assist you with financial matters. Visit our Useful Financial Resources page.

Going back to the card comparison tables. They are divided into categories for you. If you are looking for balance transfer cards, purchase cards, 0 credit cards or even bad credit credit cards there will be a section noted for each. It helps you to discover the card section you need to look at and forget about the rest.

If it is not enough that we compare the cards on the market in a handy table, we also have news and other facts on the website for you to look through. For example, once you find one that you are interested in, how will you know it is the best? Well for that you can read the review section.

The review section has taken an unbiased look at the cards to determine what is being offered and what you might need to be wary of regarding each of them. Since there are hundreds of cards on the market it is almost impossible to choose just one that is the best overall. Many are very similar in the deals that they are offering for balance transfers, purchases, and APR. What we want you to get out of this site is the information you need to help choose the one that is right for you because of the rewards or the specialty programmes, if you will.

When you look at the information below don’t just concentrate on the subject of the card. Look at the annual percentage rate and the terms of the rewards. For example, on the balance transfer cards you have a 0% rate on transfers, but the duration of this introductory rate as well as the APR will differ. Even the specials such as flight miles will differ in how they are awarded. In addition to this read our report on how to find the best card deal and a credit card calculator to help you work out how quickly you can get out of credit card debt.

We hope that the comparison tables and the other information provided on this site will help you determine the best card for you and your family.

0% Balance Transfer Deals

There are two types of 0 credit cards. The first deal we are going to look at is the balance transfer. These deals are not free. They will cost you money. The cost is a percentage of the amount you are transferring. At the moment these range from 2% - 3%. So to put it into perspective, if you transfer a £3000 balance and your fee is 3%, you will pay £90 for the transfer. Most people find that they save money by transferring, but you need to be aware of a few things or you could end up worse off.

Many people clear large amounts of card debt by using these deals. The problem is they have an extra card, the old card or cards and a new one. What many people do is then go out and use the old card to clock up more debt. This is not their original intent, but the temptation is too much for many people and they just end up with even more debt.

Another thing people often do is use the new card as well. So if they did not max out the new card when they transferred the balance, they soon do when they use the card to go on a shopping spree or pay for a holiday. This just equals more debt. Plus when you pay the monthly bill the bank always subtract from the 0% balance first and leave you to pay interest on the money you spent on the card since you did the transfer.

What is the answer to this problem? Well firstly once you have done the balance transfer, cancel the old cards. Don't just cut them up. Cancel the cards. That way the bank will not send you any new cards and put temptation in your way. Secondly, don't use the card you have done the balance transfer on. Use that credit card specifically for the 0 balance transfer. To make sure you do not have a moment of weakness, simply cut up the card. The card is simply there to use in shops. Your account will still exist whether you have a card or not.

If you do want to have another card for emergencies then do two things. One, get a plastic friend with a long term low APR. Look on credit card comparison websites or better still do a search for 12% apr credit cards or an even lower percentage. Secondly, do not keep it in your wallet. Keep it somewhere safe at home. That way you are much more likely to only ever use it for things you really need, like buying a new boiler when the old one packs up.

0% Purchase Deals

0% purchase deals are great if you really need to buy something and you need to borrow the money. The only thing you need to remember is if they are going to save you money, you really need to pay them off within the 0% period. Once this is over you will get charged the normal interest which at the moment averages at about 14.9% apr to 16.9% apr.

The thing is that with all the best intentions in the world, most people do not end up paying the debt off within this period of time. The card companies know this and that is why they offer these deals. When getting 0% purchase cards look for ones with the longest introductory period. Go on your favorite search engine and do a search for 15 months 0% purchase credit card. If this does not bring anything up then try different lengths of time.

Another tip is to mark on the calendar or in your diary when the introductory period is over. The bank will not tell you when the introductory period is over and you will not know until you see your first statement with the interest added to your balance.

It's also a good idea to setup a direct debit to pay off a set amount each month. Preferably enough to pay the debt off before the introductory period is over.

Don't get cash out of the cash machine with it. This is a no no for any credit card. It costs a lot and when you pay off your debt they always pay off the 0% debt first, leaving the high percentage debt to accumulate more interest.

Many people are better off getting a card which has a low percentage all the time. That way there is no unnecessary pressure to get the debt paid off so quickly. This pressure can cause other financial problems. Often people do not end up getting the large debt paid off. They are simply left paying 16.9% apr each month on what they owe. Be honest with yourself. Will you really manage to pay the debt off in 15 months.

So in summary 0 credit cards can be useful, but remember banks put them there to pull you in. They don't just issue them out of the goodness of their hearts. So play them at their own game by implementing these simple steps.