Credit Card Types

There are several types of credit cards available in the UK. However, if you know what you want, finding a card that suits you has never been easier. A good place to start is to determine what you're looking for in a credit card e.g.

• 0 apr on purchases for a limited period
• 0 apr on balance transferred across
• cashback credit card
• air mile credit card
• adverse credit credit card
• student credit card
• charity credit card etc
  
  

  Here Are A Few Guidelines To Help You Choose
  Start your search by thinking about how you are likely to use credit and then compare the types of credit cards available. Some cards offer excellent value, while others may cost more to use but provide special services you may find helpful. The best approach is to carefully research card rates, fees and benefits—perhaps even creating a table for easy comparison as we have done on our website at Credit Card Comparison Table
  
  

  Credit cards provide you with a revolving loan—or credit limit—based on your agreement to pay at least the minimum amount due on the amount of credit you use by the payment date, usually anything up to 56 days after the card was used.A finance charge is applied to the outstanding balance — i.e. the amount outstanding by the due date.
  
  

  For example, if you spend £400 in one month and you pay the minimum amount due of say £15, you will pay a finance charge on the outstanding balance the following month. The NatWest Card, RBS card, GM card, Marbles card and MBNA Card are good examples.You could avoid paying finance charges by paying your monthly outstanding balance in full. However, you may opt for the flexibility of making minimum payments if that's your choice. The cost of this choice is the finance charge.
  
  

  Standard credit cards are credit cards that can be used to pay for just about anything, any where from clothes at department stores to meals at restaurants as well as to get cash advances. American Express, Visa and MasterCard credit cards are examples.
  
  

  Affinity credit cards are associated with specific interest groups such as a football club or charity e.g. breast cancer appeal or childline etc and offered to people affiliated with those organisations. Generally, an affinity credit card is co-sponsored by the organisation it is associated with, and the organisation receives a percentage of the sales generated by the card. The Liverpool, Man United, Chelsea, Tottenham, Arsenal, Breakthrough Breast Cancer, Childline MBNA cards are examples.

  Co-branded credit cards are co-sponsored by two companies and have benefits & rewards designed specifically for their joint customers. For example, the American Express British Airways Card is a co-branded credit card for people who travel frequently with BA, likewise Ryanair & bmi airmiles cards.