Help with finding
the Best Credit Card in the UK

The aim of 1st credit card uk is to help the user apply for a low interest uk credit card easily and quickly on the internet. Only cards that you can apply for online are featured and with most of them you can manage your account online. After visiting this site you will be able to make an informed choice without spending hours "surfing".
To help the user, these shortlists have been compiled:

1. The cheapest credit cards for balance transfers

If you already have existing credit card debts, a balance transfer is a good idea if the new credit card issuer offers a lower interest rate. There are some very introductory Balance Transfer rates on the internet, Many of these offers are Interest Free credit cards which start as low as 0 % for the first few months. Now that there is a credit card war on, you may even be able to get a )% deal for as long as ayear. There are also a few card issuers offering a slightly higher interest rate on the balance transfer until the transferred debt is paid off. If you are a long term credit card debtor, with quite a high credit card debt and you know that you are not going to be able to pay the debt off within the year, then one of these credit cards will probably be best for you. This is called a Permanent Balance Transfer rate or a Lifetime Balance Transfer rate.

Click here to go to our introductory 0% balance transfer shortlist

Click here to go to our permanent balance transfer shortlist

2. The cheapest credit cards offering low interest rates on purchases

The credit card industry has now become so competitive, that it is totally unnecessary to pay an interest rate of 20% or more. Now, there are some really good deals starting at 0 % for 6 months. If you do not have a credit card debt at present, but are planning to take one on in the future (eg plans to buy a stereo), then one of these low interest rate cards will be very useful - especially if you can pay off the debt in the initial six months before the interest rate goes up!! Even if you haven't cleared the balance by the time your introductory rate has expired, most of the cards featured here do not hike the interest rate up to anything extortionate. If you are a long term credit card debtor, it may be more worthwhile to not bother with a low introductory interest rate, but to go for a card that offers a permanent low interest rate. This will be lower than the cards that offer the initially attractive introductory rate, some number crunching may be necessary to work out what is best for you!

Click here to go to our low interest shortlist.

3. The cheapest credit cards for cash advances

Traditionally, credit cards tend to penalise you if you draw cash out at the hole in the wall or go to the bank and make a withdrawal. However, recently, some of the card issuers have again offered some very attractive deals, starting as low as 2.5 % for an introductory period. Bank Loans on small amounts (under £2000) tend to be pricey (over 15% and in some cases over 20%) and inflexible, so if you are confident that you will pay the loan back under the more flexible terms offered, the option of borrowing from a credit card, where you can choose how much to pay off each month, is a very attractive option. Most issuers will charge a handling fee of 1.5 - 2% on a cash advance - so do take this into consideration.

Click here to go to our cash advance shortlist .

4. The shortlist of Cashback credit cards

The cashback card is a relatively new arrival in the world of credit cards. The basic rule is that the rewards are minor and the purchase interest rate higher - to get cashback of 0.5 - 2% on every purchase, generally you will have to pay an extra 3 or 4%. The way to beat this is to pay off your balance every month, if you do not, the extra interest charged on your balance will generally work out to be more than the cashback earned. So, if you are that type of person that uses their credit card a lot and pays off the balance each month, then this probably is the credit card for you. Most pay you your cashback in a lump sum at the end of the year. For the majority of us mere mortals, this is a small amount totalling less than £20 per annum, but if you are a really high spender, then it can literally amount to hundreds! (Don't get too excited though, there is a ceiling on how much cashback you can earn with most card companies). Still, if you never run up a debt on your credit card, free money is free money however small an amount!!

Click here to go to our Cashback shortlist
 

5. The shortlist of Bad Credit  Credit cards

So...you haven't been a good debtor in the past? Well, that may not be a problem! There are numerous companies out there who will still consider applicants with a blemished credit record.

Because you are a bigger risk, you will be charged a higher interest rate. But if it is a credit card, you can pay the balance off in full at the end of the month and not pay any interest at all.

Some credit cards offer you the chance to rebuild your credit rating. This actually applies to all credit cards in reality. If you are a good customer, your transaction history will be on file, thus building a new credit profile which will go some way to counteracting previous misdemeanours. It will take a good while, but if you build up a good profile over a period of time, eventually, your past errors may be all but forgotten.

All credit providers assess you in different ways. Therefore, if one provider rejects you, another one may not. A word of caution though. Too many applications for credit in a short space of time may itself stand against you. So....think hard about who you will apply for credit with, if they reject you, one or two more applications may be OK, but don't overdo it. If you are rejected by three credit providers - then call it a day for at least six months!!

Trying to find out why you have been rejected can be tricky. You can ask for a copy of your credit file from Experian.com or checkmyfile.com will also give you a credit report. Sometimes, though these can just confuse you. However, they can tell you if you are being muddled with a member of your family (or a person previously at your address who has the same surname - yes it does happen!). Sometimes, it is impossible to tell, a credit company may simply turn you down because your income is not high enough, yet they may not have mentioned a minimum salary requirement in their information. (You generally can borrow up to 1/2 your salary for a personal loan). So sometimes, you may be rejected for a really simple reason, rather than that you are considered uncreditworthy.

If you are really having problems, do some detective work. There is a lot of help out there on the internet. DO NOT pay someone to investigate your credit problems on your behalf unless you know them to be reputable. They could end up doing more harm than good!!

Eventually, nearly all of us can undo our past credit blunders - so be patient and most important....BE GOOD!!



Click here to go to our Bad Credit Credit Card shortlist