Over 110 UK credit cards independently reviewed by Fiscus Credit Cards
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Credit cards categories in the Fiscus credit cards database.
The credit card category is based on the broad range of features
which the card fits into. Note that the category here is a rough guide and many
credit cards could fit into more than one category.
Selector – These credit cards allow you to
choose between a lower rate of card interest or having cash back on your
purchases. They are a form of hybrid
card, which can offer reasonable deals, providing you make sure that you
select the best option to suit your current balance and spending habits. You can
change your preferences between low interest and rewards, although some issuers
limit the amount of times you can do this each year.
These credit cards typically offer average interest rates, though can be
pretty competitive when considered for their cash back rates, such as the 0.8%
cash rebate offered by cards such as Accucard.
As they are attempting to provide a mix-and-match between offering cash back and
lower interest rates, they are very rarely the best deal. At Fiscus credit
cards, we believe that cash
back credit cards do not combine well with credit cards where you intend to
keep a balance from one month the next. For these reasons, we generally view
hybrid cards as being poor value to the consumer. We would generally recommend
either going for a credit card which will offer you a lower rate of long-term interest, or if
you want a cash back credit card, go for one which will offer a much higher
level of rebate. For example, American Express Blue credit card offers 1% cash back
(with an introductory bonus cash back of 2% for the first three months) while the
Smile Credit Card offers 0.5% cash back (albeit with a very low interest rate of
just 9.9%).
View all the reviews on selector type cards.
Rewards – These offer cash back or other
rewards on purchases made with your credit card. They can be up to £1 for every
£100 you spend (American
Express Blue card), or even a £3 saving off a new Vauxhall for every £100
you spend (GM Platinum card). Please read our rewards and cash back credit cards
guide for more information. As these cards offer generous levels of cash
back, they will be best value for people with relatively high spending levels
who are able to pay off their balance in full almost every month. They are not
good value if you carry a balance forward, as their interest rates are much
higher – for example the Amex
Blue credit card has a rate of 18.9%.
Fiscus Tip: Cash back credit cards can end up
as an incentive to spend more money than you need to. Are you prone to these
impulses? If you think that you may be, we suggest you take a look at our “
Earn 1% Cash back or Save 10%” article in our credit card advice section.
View all the reviews on reward type cards.
Low-Interest – For individuals that
frequently carry balances on their cards from one month to the next, then these
low
interest credit cards are likely to save you the most money. An alternative,
particularly with short term debt, is to opt for a Mid-Interest
credit card that has a 0%
balance transfer offer, but for longer term debt obligations, these credit
cards are likely to be your best option. Some low interest credit cards offer
great value, such as the Capital One Platinum, which offers a low interest rate, a 6 month 0% offer on
purchases and a fixed long term balance transfer rate of 3.9%. The only downside
to low interest credit cards is that you usually need a very good credit
score to be eligible for the card.
View all the reviews on low interest type cards.
Mid-Interest – These mid-interest
credit cards tend to be the ones which are most heavily promoted in magazine
adverts and junk mail offers. These cards are likely to offer attractive 0%
interest rates on balance
transfers for a fixed period. After this period expires, their interest
rates then go to a higher level, which is not usually particularly attractive
when compared to some of the lowest
interest credit card deals on the market. However, note that some low
interest credit cards have very strict acceptance criteria, whereas mid-interest
cards generally accept a higher percentage of applications. This does not mean
that you will be automatically accepted. Even if you are sent advertising mail
saying that you are “pre-approved”, these offers are always subject to each
bank’s own credit scoring
criteria.
View all the reviews on mid interest type cards.
Credit builder (credit cards for bad credit)
– These cards are aimed at people who have had credit problems in the past, or
who have no previous credit
history. They may be ideal for building up your credit score, although
remember that this comes at a price. Interest rates on this type of credit
card tend to be the highest on the market, with some cards charging over 40%
APR! Remember that the credit card market is extremely competitive. Depending on
the level of problems you have had in the past, do not feel that this type of
card is your only option. If you do choose to apply for a bad credit credit
card, make sure you regularly review the interest rate you are paying. If you
use these cards for six to twelve months without missing a repayment or going
over your credit limit, make
sure that you start asking the card issuer if they are able to review your interest rate.
View all the reviews on credit builder type cards.
Charity cards – These credit cards are
targeted at individuals that want to show support for a charitable cause. They
are not usually particularly good value in terms of their interest rates and are
thus only of merit if used by people that clear their balance in full
every month. Even the levels of donations which are made to charities
are generally low (around 0.25%), when compared with cash back credit cards on
the market (the American Express Blue provides 1% cash back for a similar interest
rate to charity cards). However, when signing up for a charity card, the credit
card issuer will typically donate a fixed sum to the charity in question. See
our charity card
pages for more details.
View all the reviews on charity type cards.
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