Credit card issuers UK – Credit card issuers
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A credit card issuer, when used properly, can provide a convenient and flexible way to borrow money and/or manage your spending in the UK. However, there is no such thing as a one-size-fits-all solution. Credit cards come in a variety of shapes and sizes, and picking the right one for your needs can make a significant difference in your financial situation and overall experience. So, where should you begin?
These are ‘worst-case scenario’ cards. Depending on your credit score and circumstances, you may be offered less favorable terms. Before applying for a credit card, look over the list of credit card issuers in the United Kingdom.
What is a credit limit, exactly?
The amount you can spend on your credit card is known as your credit limit. Your credit limit is determined by a number of factors, including your credit score, how often accessible income you have after achieving your regular financial obligations, and if you have other types of credit, such as a mortgage, loan, or overdraft.
Depending on how you use the card and changes in your circumstances, your credit limit may be increased or decreased. If you pay your balance in full every month, for example, your credit limit may be increased because your provider believes you are responsibly using your card.
Is it possible for me to pay off my credit card debt early?
Unlike other credit products such as loans and mortgages, you won’t be charged if you pay off your credit card balance early.
What is the rank of the cards?
Each credit card category is ranked based on its own characteristics.
- Cards that give you money back: Non-fee and fee-charging cards had the highest cashback rates.
- Cards for rewards: Non-fee and fee-charging cards may be eligible for rewards.
- Purchase cards with the longest 0% APR on new purchases, the best APR, and the best customer experience score
- Balance transfer cards with the longest 0% interest rate periods versus fee-free balance transfers
- Balance transfer cards (no fee): Balance transfers with the longest 0% duration for no fee.
- Money transfer cards with the longest 0% duration versus the highest fee
- Credit cards for travel: For ATM withdrawals, there are no foreign transaction fees, cash withdrawal fees, or interest (if the monthly balance is cleared)
- Cards that help you build credit: Potential eligibility and annual percentage rate (APR)
- Credit cards with a low annual percentage rate (APR): Lowest representative APR in the long run (variable)
What is the best way to find the best credit card issuers?
- in our most recent customer satisfaction survey, have a Customer Score of at least 70%
- have at least one top ten cards in each of the market’s seven main categories
- have a product analysis score of average or higher
- On any of its mainstream cards, it does not have a representative APR of more than 24%.
What are the most customer-friendly credit card issuers?
Find out how customers rank their credit card issuers in a variety of areas
- American Express
- John Lewis/Waitrose
- Tesco Bank
- First Direct
- M&S Bank
- British Airways
- Sainsbury’s Bank
- The Co-operative Bank
- Capital One
- Bank of Scotland
- Virgin Atlantic
- Lloyds Bank
- Post Office
- Virgin Money
- Royal Bank of Scotland (RBS)
Who do we recommend for providers?
American Express is a credit card company that provides services
Due to its excellent online and mobile app management capabilities, customer service, and charge transparency, American Express received an 80 percent customer satisfaction rating.
The company has cash back and reward credit cards that are among the best in the industry.
For example, the American Express Platinum Cashback Everyday Credit Card offers 5% cashback (up to £100) for the first three months, followed by a rate of 0.5 percent -1 percent. There is no annual fee on this card, and the APR is a competitive 22.2 percent (variable). Credit is granted on a case-by-case basis and is subject to certain conditions.
Halifax received a 76 percent customer satisfaction rating, with customers praising its credit card offering for its app, customer service, online account management, and other features.
Its Clarity credit card is a good choice for spending abroad because it has no foreign transaction fees.
The cost of borrowing is a representative 19.9 percent APR based on an assumed borrowing of £1,200 for one year at a purchase rate of 19.95 percent (variable) (variable). Credit is available, but it is subject to approval and terms.
Tesco Bank is a bank based in the United Kingdom
Tesco Bank received a 76 percent customer satisfaction rating, with customers praising the bank’s customer service and capacity to maintain accounts online.
It provides a wide selection of credit cards, including competitive 0% balance transfer, 0% purchase, credit-builder, and low APR cards, both of which offer Tesco Clubcard points on expenses.
For example, the Tesco Purchase Credit Card offers 0% APR for 20 months on purchases and Clubcard points on spending.
Assume a one-year loan of £1,200 at a variable purchase rate of 20.94 percent (representative 20.9 percent APR) (variable). Credit is available, but it is subject to approval and terms apply.
In our surveys, Nationwide consistently ranks at the top. Customers rated the building society’s customer service and charge transparency highly this year, earning it a 75 percent customer satisfaction rating.
Two introductory offers are available with its Member credit card.
The Member Balance Transfer Credit Card has a 0% balance transfer fee for the first 18 months and a 1.5 percent balance transfer fee after that.
The Member All Rounder Offer, on the other hand, offers 0% APR on purchases and balance transfers for 15 months (1.5 percent fee for the first 90 days).
Both cards have no annual fees, no foreign transaction fees, and a representative annual percentage rate (APR) of 19.9%.
The cards would cost a representative 19.9% APR if you borrowed £1,200 for one year at a purchase rate of 19.9% (variable) (variable). Credit is available on a case-by-case basis and is subject to terms and conditions.
To be eligible for the Member credit card, you must be a Nationwide member, which means you must have a current account, a mortgage, or a savings account with the building society.
For the second year in a row, British Airways has been named a Which? Recommended Provider. Because of its clear charges, customer service, and ability to manage accounts online and via the mobile app, it received a 74 percent customer score.
The airline offers a lot of reward credit cards that allow cardholders to earn Avios, which can then be redeemed for flights, vacations, experiences, and wine.
You’ll get one Avios for every £1 you spend with the British Airways American Express Credit Card, plus a 5,000 bonus Avios if you spend £1,000 in the first three months. There is no annual fee with this card.
The card offers a representative 22.2 percent APR if you borrow £1,200 for a year at a purchase rate of 22.2 percent (variable) (variable). Credit is available on a case-by-case basis and is subject to terms and conditions.
The British Airways American Express Platinum Plus Credit Card, for example, offers 1.5 Avios per £1 spent and 25,000 bonus Avios after spending £3,000 in the first three months with the card. A £195 annual fee is charged for the card.
The cost of credit is a representative 74.7 percent APR if you borrow £1,200 for a year at a variable purchase rate of 22.2 percent and a £195 annual fee (variable). Credit is available on a case-by-case basis and is subject to terms and conditions.
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