Credit Cards

Credit cards are one of the most successful financial products of all time, and it’s easy to understand why: they’re a convenient tool for making secure payments, they offer you enhanced consumer protection and – when used wisely – they can provide a source of cheap borrowing.

Credit and credit cards power the modern world. Whether you’re making payments online, paying with plastic (or contactlessly) at a shop, or looking for cheap sources of borrowing, credit cards have it all. But what are credit cards exactly, how do they work, why are they so popular – and what gotchas do you need to watch out for?

What is a credit card balance transfer?

There are many reasons why you might find yourself with debts that you cannot afford to repay; don’t assume that it’s always the result of bad money management or spending beyond your means. The loss of a job, the inability to work due to sickness, an unexpected pregnancy or the death of a loved one – they all have the ability to plunge you into debt.

As a credit card user in the UK, you should expect a lot more from your card than just making payments and rolling credit from month to month. The UK credit card market is healthily competitive, which means there are some great deals and perks to be had if you do your research and shop around.

Credit cards for bad credit

Business credit cards can boost your cash flow and simplify expense accounting, while also netting you some great rewards, benefits and discounts.

Cashback credit cards pay you back a percentage of the amount you spend on your credit card – effectively money for nothing.

Balance transfer cards let you easily shift high-interest debt held on an existing credit card (or cards) to a new card with a lower interest rate – as low as 0% in many instances – for a fixed introductory period.