Uk Credit Cards Online

Written by Ingrid Chen
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With advancements in technology and database structure, applying for a UK credit card nowadays can be as easy as getting online and filling in the blanks. One must be careful when applying for cards online, as there may be small print that can easily be overlooked. By doing some research, however, finding a card that suits you can be a hassle-free process.

What to Look For in a Credit Card

The first and biggest thing to consider when applying for a credit card is the interest rate that applies to the card. The annual percentage rate (APR) is the rate you will be charged based on a percentage of balance carried over each month. Many companies offer a low or zero percent interest rate for an introductory period in order to lure new credit customers. Compare these cards by taking a close look at the APRs and other fees that will apply after the introductory period.

Though it is highly recommended to pay off the balance each month, it's not uncommon to carry a balance when finances become tight. If you must carry a balance on your card, financial experts recommend staying at 30 percent or below of the credit limit on the card, and to never "max out" a card (reaching the credit limit). Though credit cards are there to buffer costs when cash is low, one should not rely entirely on credit to fund everyday costs. The higher the balance is on your credit card, the more risk you take with your personal credit history.

The best way to apply for credit is to compare rates and benefits of each card, and find the one that works the best for your needs. Take a look at what kind of spender you are. For example, if you know you will carry a balance on your card month-to-month, hunt for a card with a low APR. If you plan on paying off your credit balance every month, a card with a higher APR but more optional benefits may suit your needs.

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