UK Credit Card Guide

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In this guide, you will find useful information about credit cards. By using the menu on the middle right you can browse our creditcard guide. You can find intro text to each page on this page under the Guide Contents section.

What are creditcards?

A credit card is essentially a plastic card with a embedded strip, a microchip, your signature, your unique 16 digit number, start date, end date and some security numbers (3) on back. The chip is a recent introduction, allowing the new implementation of Chip and PIN. This new system does away with the need to sign for purchases in store and allows you to enter a 4 digit PIN number instead.

Most credit cards are forms of unsecured loans, however there are available secured credit cards for consumers with poor credit ratings.

Credit cards give you the opportunity to make purchases or have cash advances, but just pay back a small amount every month (the amount varies slightly from provider to provider). Almost all credit cards charge extra fees on top of the interest and charge heftly penalties for late fees, overlimit fees, etc...



There are many advantages to using a credit card:

  • Pretty much all offline and online merchants accept credit cards these days.
  • Buy now and pay for them bit by bit over a long period
  • Avoids having to carry cash or even foreign currency if abroad
  • The monthly statements act as a tidy track record of your monthly expenses
  • Most credit cards offer up to 56 days interest free for your purchases
  • You can get cash from them if you need it via cash advances!
  • Extremely useful for small immediate cash flow problems due to sudden emergencies
  • Some come with added benefits such as travel insurance included.

There are some disadvantages to using a credit card:

  • The interest fees can be high and are not a practical way of borrowing large amounts unless paid off within the interest free period
  • Can affect credit record if missed payments etc...
  • Very easy to over spend beyond your means, unless money conscious!
 Guide contents:

What is credit card APR?

Annual Percentage Rate for credit cards can be misleading and not all it seems. Read our brief introduction to the credit card APR and find out what is usually included and why you cannot trust APR on its own to choose a new credit card.

Read about Credit Card APR

What is a credit card balance transfer?

What are balance transfers and what do they mean? Read our brief introduction to credit-card balance transfers and find out what you should check before applying, and the balance transfer application process.

Read about Credit Card Transfers

What is a Gold credit card?

There are many types of credit card, and the Gold card is one of these. Read our brief introduction to gold credit cards and what they usually entail.
Read about Gold Credit Cards

What is a Platinum credit card?

There are many types of credit card, and the Platinum card is one of these. Read our brief introduction to platinum credit cards and what they usually entail.

Read about Platinum Credit Cards

What is a Student credit card?

Student cards are given away these days to students on first arriving to study at university. Be warned your credit rating could be affected by not keeping up repayments! Read our brief introduction to student creditcards.

Read about Student Credit Cards
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