The UK credit card market is perhaps the most flourishing credit card market.
As many as 1500 different credit card companies are trying to woo customers
towards their products and different credit card offers. In this cluttered
scenario you are bound to get a lot of biased opinions and credit card reviews
and guide that is nothing but mere advertisements. Getting to a genuine credit
card guide for UK market is a colossal, tiresome job. Nevertheless we took it on
us to study the market comprehensively and achieve a genuine fruitful result.
First of all it is important to analyze your own needs, requirements and
financial credentials. Know what type of credit card suits your situation then
weigh the pros and cons of a market offer. Start comparing their interest rates,
features, benefits, chooses whether you want a MasterCard or Visa credit card.
Make sure you find out all about the 0% credit cards available; find out which
has the best rates and APR for balance transfers or purchases. Remember it is
not necessary that card that offers the lowest interest rate is the best there
are a lot many tags attached to a credit card so be careful before you select
one. Read between the fine print and look out for the hidden costs. Be sure the
credit card fits your requirements and situation. There is no point signing up
for a reward point program if you do not use your credit card too frequently.
You might just end up spending more than you’ll earn through these schemes,
which you’ll use only occasionally.
If you are going in for Gold or Platinum Credit Card make sure that make sure
that it offers you the best market deal in terms of credit limit, features and
benefits. Else if you’ve got a bad credit history go for a credit card that
supports you in building back your credit and finally gaining a good credit
rating. See that it has a flexibility of grace period and that the annual
charges, interest rates, etc are low (of course APR would be high).
Some of the best credit card offers for UK market are those by Morgan Stanley
credit card, Capital one credit card, marbles credit card, Citibank Platinum
Credit Card, MBNA Platinum plus Credit, Lloyds TSB Platinum Card, GM Platinum
Credit Card, Barclaycard Credit Card, MBNA low rate credit card and American
Express Blue Credit Card. While GM Platinum Credit Card gives the best cash back
offer of 3%, Barclaycard is the most popular UK credit card. It has the largest
market share of over 20%. American Express Blue credit card has great standing
as an over all value provider.