Compare UK Credit Card Interest Rates - What to look for

Shop around and compare credit card interest rates before you decide on your credit card. There has never been so much competition in the credit card market. Depending upon your issuer, you could enjoy Air Miles, money off utilities or shopping bills or gift vouchers. But do these perks mean you are getting the best possible deal?

There are more than 1,300 credit card brands available in the UK. Each offers different interest rates and perks. If you are shopping around then you can usually do everything on the world wide web. Look up the best perks and interest free periods. You can pick a cheap credit card rate with the flexibility you need.

When choosing a credit card you should always be aware of the following factors, picking the right one for you will depend on which of these suits your needs best:

Rates and Fees
Most credit cards have annual fees and interest charges. Interest rates tend to be high and vary between companies. Some companies provide interest free periods. Other companies have penalty payments for late or returned payments or if you exceed your agreed limit.

Tariff of charges
This is the list of charges that will be charged when your make purchases. This covers many and varied things and it differs from one company to another.

APR
This is the interest that you will be charged on your debts. It’s usually expressed as an annual figure and represents the overall cost of your debt, taking into account current and future interest levels, and any additional costs and charges. Use the APR to compare credit cards, as it is a standard measure of the cost to you.

Annual fee
An annual fee charged by some companies.

Click here to view the full range of Bradford and Bingley's financial services. Just answer a few simple questions and we'll give you a tailored list of options from a selection of leading providers. Review each product in detail, then select and apply online when you've found the right one for you.