Comparisonsmaster
Best 2022 Credit Card Options In the United Kingdom
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Before we dive into the list of credit cards to apply for this year, 2022, let’s find out what a credit card is
Before we dive into the list of credit cards to apply for this year, 2022, let’s find out what a credit card is
What Is A Credit Card?
A credit card is a tool mostly used by people for the management of their finances by borrowing and paying back the money in full or by instalment. There is not a fixed amount to be paid back; rather, it depends on the interest rate and special offer that comes with using a specific credit card.
Types Of Credit Cards
There are various types of credit cards, and they all fall into different categories, such as balance and money transfer options, designed to help you manage your short-term cash flow issues and money transfer options. There are also a number of credit cards solely designed for people buying big-ticket items. This type of card often offers 0% interest rates or periods, cashback, perks and rewards. Ultimately, there are also a few cards specifically designed for business users, for those building their credit score or rating and for travelers.
Among all these various categories of credit cards in the United Kingdom, we have studied the UK market to shortlist only the best credit cards for you. However, we considered a few factors that determine the best credit cards, and they include annual
fees
interest rate
cashback
Introductory offer
Rewards
Interest-free periods
Annual fees
M&S Shopping Plus Credit Card
This credit card is famous for offering one of the longest interest-free periods compared to other cards. It also has a slightly lower APR, which comes after the interest-free period, and you can earn points for every pound you spend, which may be redeemed to make purchases.
Interest-free period: 0% interest on purchases and0% on balance transfer for the first twenty-two months of using the card
APR: 21.9%
Perks: you can earn one point for every £1 you spend in M&S and for every five pounds you spend on other retailers.
Annual fee: £0
Santander Credit Card
APR: 20.9% after Interest-free period
Interest-free period: 0% interest for the first thirty-one months of using the card.
Interest: 0% interest on purchases for the first three months of opening the account
Annual fee: 0%
Tesco Foundation Credit Card
Representative APR: 27.5%
Eligibility: annual income of £5,000 (minimum)
Starting credit limit: ranges from £200 to £1,500
Perks: you can earn Tesco Clubcard points, track spending via their mobile app, and they offer three years of free access to your credit score and report
American Express Platinum Cashback Everyday Credit Card
Representative APR: 22.2%
Cashback: 5% cashback on every £100 and more purchase you make for the first three months. It also offers 1% cashback on every over £10,000 purchase after the introductory period
Interest-free periods: it offers a maximum of fifty-six days of Interest-free period only when you pay in full each month.
Annual fee: 0%
Barclaycard Rewards Credit Card (best travel credit card)
Foreign transaction fee: 0%
Cash withdrawal fee: 0%
Representative APR: 22.90%
Cash withdrawal APR: 27.90%
Perks: you can earn 0.25% cashback on every transaction you make for purchases, excluding balance transfer, cash withdrawal, money transfer, buying currency, and check
Capital On Tap Business Rewards Credit Card
Representative APR: 29.90%
Credit facility: estimate $100k
Perks: No FX or UK ATM charges, 1% cashback or one Avios point for every £1 spent. It also offers 10,000 bonus points for spending £5,000 in the first three months of using the card
In conclusion
These are the best credit cards in the United Kingdom, but you should consider your eligibility to be accepted before you apply for any of these credit cards. This is to avoid failed applications that often appear on an individual’s credit record.
