Credit card benefits

• 0% Balance Transfer Cards
• 0% Purchase Cards
• 0% Balance Transfer and Purchase Cards
• Cashback Cards
• Long Term/ Life of Balance Transfer
• Low Standard Rate Cards
• Loyalty Reward Cards

Card	Rate	Duration	BT Fee	Typical APR
Capital One BT Exclusive	0%	Until 01/10/2009	3.0%	15.9%
Virgin Credit Card	0%	15 mths	2.98%	15.9%
Capital One Platinum	0%	Until 01/09/2009	3.0%	12.9%
Egg Card	0%	Until 01/09/2009	3.0%	16.9%
Barclaycard Platinum 'As on TV'	0%	14 mths	2.9%	14.9%

Card	Rate	Duration	BT Fee	Typical APR
Capital One Platinum	0%	Until 01/09/2009	12.9%
Capital One Platinum Exclusive	0%	Until 01/05/2009	11.9%
Halifax One Online Special	0%	10 mths	15.9%
Bank of Scotland	0%	10 mths	15.9%
Barclaycard Life of Balance	0%	10 mths	15.9%

Card	Rate	Duration	BT Fee	Typical APR
Capital One Platinum	Until 01/09/2009	Until 01/09/2009	12.9%
Capital One Platinum Exclusive	Until 01/05/2009	Until 01/05/2009	11.9%
Halifax One Online Special	10 mths	10 mths	15.9%
Bank of Scotland	10 mths	10 mths	15.9%
Capital One BT Exclusive	Until 01/10/2008	Until 01/10/2009	15.9%

Card	Rate	Duration	BT Fee	Typical APR
American Express Platinum	5% Moneyback for 3 months, up to 1.5% thereafter
Capital One Cashback	4% rebate until 01/09/08 on purchases, 1% thereafter
Shell MasterCard - Citi	3% rebate on Shell fuel spend, 1% on other purchases
Barclaycard Cashback	4% Cashback until 31/07/08, 0.5% until 01/01/10

Card	Rate	Duration	BT Fee	Typical APR
Barclaycard Life of Balance	6.5%	15.9%	Life of Balance

Card	Rate	Duration	BT Fee	Typical APR
Barclaycard Low Rate Special	8.8%	56
Capital One Platinum Exclusive	11.9%	56

Card	Rate	Duration	BT Fee	Typical APR
MBNA Platinum Rewards Card	1 point for every £1.00 spent

A credit card is a clean, quick and smart way of paying for groceries or buying train tickets when there are 50 impatient commuters at your back.

Done right credit cards are the cheapest way to borrow money. With several key advantages, a credit card can:

• Give greater spending flexibility
• Improve your credit rating; and
• Provide cash bonuses and travel points.

Credit card benefits – Spending power

A credit card allows you to make a variety of purchases and spread the cost over a period of time. Previous charge cards such as Diners Club were unlike credit cards in that balances could not be ‘carried over’ but were paid in full at a set date, ie end of month.

A credit card allows you to pay a minimum rate on any balance, which can afford you time to find the extra money for your purchases. For this reason credit cards are particularly convenient over Christmas or for those two weeks in the sun.

Online shopping for booking flights or making purchases requires a credit card and is useful for this reason alone. However, with the advent of pre-paid cards, shopping online will be made easier for the under 18s and those without credit cards – but even so it remains a poor alternative.

Credit card benefits – Credit reports

A credit card can enhance your credit score just by owning one. It shows you are worthy of credit. Owning two is even more beneficial as it demonstrates you are considered trustworthy by more than one lender. (It should be noted however that your credibility does not run directly in line with the amount of cards you possess.)

To enhance a credit score, it’s advisable to use your credit card regularly instead of once every few months. Using your credit card often creates a history of credit, which is good news for your credit rating. It also means you will receive fewer calls checking on the validity of a purchase.

Ironic as it may seem, the best way to repair bad credit is to use a credit card sensibly.

Credit card cashback/incentives

Credit card companies offer numerous incentives such as cashback offers. Most cashbacks are calculated in the region of 0.50% to 1.00% of spending, with maximum spending limits enforced.

Shopping rewards and point systems (eg, at your local supermarket or petrol station) often run counter to interest rates or credit limit. For example you may wish to take advantage of an air miles incentive and opt for a card that offers travel points but suffer a higher interest as a result.

Note: Some incentives are only available for a set period of time or subject to restrictions. To get full value of what your card entitles you too, make sure you are familiar with the terms and conditions. Cashing in on the rewards can be done but it takes a certain amount of savvy and commitment.