What to think about before you apply for a credit card

The type of credit card you should apply for will be determined by your financial status as well as the card's intended use. There are a variety of credit cards offered for various objectives, ranging from improving your credit score to avoiding interest for a set period of time.

Is a credit card required?

You should consider what you'll use the credit card for and whether you'll be able to pay off your balance each month to avoid interest fees

What is the status of my credit?

Your credit score will influence the types of credit you'll be provided, as well as the amount you'll be able to borrow and the interest rate you'll pay

What is the interest rate?

It's possible that you won't get the lender's advertised representative APR. While lenders are required to offer the advertised APR to at least 51% of applicants, you may wind up paying a higher rate than you expect

Will I get any added rewards?

You might select a cashback credit card or a rewards credit card if you're looking for a financial boost on your credit card purchases

Apply with confidence

When you're pre-approved, you'll know what your interest rate, interest-free period, and fee (if any) will be. Your credit limit is the only item that isn't guaranteed

Personalized for you

You'll be able to see your individual, personalised chances of approval for all credit cards, allowing you to quickly compare all of your options

Compare credit cards from over 20 different companies

It's usually a good idea to shop around, especially when it comes to credit cards. We assist you in comparing offers from prominent providers across the industry so you can be sure you're getting the best bargain possible.

How do you pick the right credit card for you?

With so many different credit cards to select from, it can be difficult to know which one is right for you. Fortunately, there are a few basic principles to follow to ensure that you select the best card for your needs:

Do you have any debts that you need to pay off?

If you have numerous credit cards, you may be repaying more than you need on the balance. Balance transfer credit cards can be quite useful for consolidating these debts: for a modest cost, you can transfer all of your previous credit card obligations to the new card, which will have a long period of low or even no interest

Do you intend to make a significant purchase?

Many people, of course, prefer to use credit cards for one simple reason: to spend money. Credit cards are fantastic for spreading out the expense of a larger item - or perhaps a huge purchase like a vacation because they're effectively a tiny loan you take out on any purchase

Have you got a bad credit score?

For a variety of reasons, people may find it difficult to maintain a high credit score. You might have had debt problems in the past, or you might not have much of a credit history since you've only recently turned 18 or moved to the UK. Whatever your position, a credit-builder card allows you to spend little amounts of money responsibly in order to demonstrate to lenders that you can be trusted to borrow larger sums of money

Do you want to be rewarded for your everyday purchases?

There are several different sorts of credit cards that reward you for your purchases. There are several incentives on offer, including airline credit cards that give you points to apply against the cost of trips and store cards that give you perks when you shop at your favourite brands. There are also some cards that simply give you cash back on what you buy

What are the requirements for being approved for a credit card?

To be considered for a credit card, you must meet the lender's eligibility requirements, which typically include the following:

  • Age: To qualify for a credit card, you must be at least 18 years old.
  • What you make: Most credit card companies will demand you to be working and earn a certain amount each year, which can range from £7,500 to £30,000 or more, depending on the card.
  • Financial history: Most lenders will need that you have not gone bankrupt and that you have no County Court Judgments (CCJs) against you.
  • Credit Score: Lenders will look at your credit file and credit score to see if you're likely to keep up with your payments. Your credit report, also known as your credit file, reveals how successfully you've handled credit in the past. This has an effect on your credit score as well. As a result, your credit score (or the fact that you have never borrowed before) may have an impact on your eligibility.

How soon will I receive my credit card?

It should take no more than two weeks for your credit card to arrive in the mail after you've been approved. Ask your credit card provider for an estimate of how long it will take for your credit card to arrive.

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