Balance transfer credit cards
If you're paying interest on an existing credit card balance, you could move it to a balance transfer card and take advantage of the 0% interest offer period to tackle your debts. There will be a 2–3% fee to pay when you initially move the money. Some of the longer deals have higher fees, so you might be able to save more by going for a shorter 0% period with a lower transfer fee. Our balance transfer calculator will help you find the card that will save you the most money and show you your likelihood of being accepted. Avoid spending on a balance transfer card as you will pay interest on the spending on purchases.
Learn how to save money with a balance transfer card
Purchase credit cards
This card allows you to spread the cost of a large, planned purchase over several months – you pay no interest on your spending during the introductory period so long as you make the minimum repayment each month. But make sure the balance is paid off, or moved to a balance transfer card, before the 0% period runs out, or you'll end up paying a high standard rate of interest that will quickly wipe out the initial benefit.
Spread your costs without paying interest with a 0% purchase card
Balance transfer and purchase credit cards
If you're carrying debt on a credit card and want to spread the cost of a large one-off purchase then this could be an option. However, the rates on offer tend not to be as good as those you could get from having separate balance transfer and purchase cards.
Find out how to make the most of a combined credit card
Cashback credit cards
If you always clear your balance each month, a cashback credit card rewards you by giving you 1%-5% of your spending back. Don't build up debt on this card as high interest rates will rapidly wipe out any earnings.
Earn when you spend with a cashback card
Rewards credit cards
An alternative option for people who pay off their balance in full each month,these credit cards allow you to earn points that you can use to buy flight tickets with.
Getting the most from your rewards credit card
These credit cards, offered at the till in various stores with introductory offers such as 10% off your shop that day, usually come with an extortionate rate of interest, so it's best to say no.
Charity credit cards
Although spending money on a credit card that earns a percentage for your favourite cause seems like a great idea, the amount the charity receives is typically only 25p for every £100 you spend — that’s a pitiful cashback rate of 0.25%. Better to donate all the money you earn from using a standard cashback credit card to charity and give about £1 of every £100 you spend.
Why you should dump your charity credit card
If you use a standard credit card abroad you will pay an additional fee, typically about 3%, on every transaction. But with overseas spending credit cards these fees are much lower, or waived entirely, and that means cheaper holiday spending for you.
Find the best card for overseas spending