Finding the best credit card
Answer the questions below to help you find the best credit card for your needs.
1. Do you have a poor or limited credit history?
Certain credit cards are designed specifically to build your credit rating. Bear in mind that these are likely to have lower credit limits and higher interest rates than other options, but they can improve your chance of accessing better deals in future.
2. Do you want to cut the interest you pay on existing credit card debt?
Moving existing debt to a 0% balance transfer card is a convenient way to minimise the cost of borrowing. But don't use this card for spending and make sure you pay off the balance before your deal ends to avoid being charged interest.
3. Will you be able to pay off your credit card bill in full every month?
If you won't be using your card to borrow, look for one which rewards you for spending. Reward credit cards and cashback credit cards give you something back each time you spend on them.
A 0% purchases credit card will allow you to pay off your bill over a certain period without incurring any interest. However, if you won't be able to pay the full amount back before the 0% deal ends, you'd be better off with a low-rate credit card instead.
