How to find the right credit card for you

With so many types of credit card on the market, it might be tricky figuring out the differences between them. Whatever your reason for wanting a card, we’ve got some handy tips to help you decide which is the right one for you.

    Published:31 Jul 2023


    Why take out a credit card?

    Everyone has their own reason for taking out a credit card. You might be looking to spread the cost of a big purchase, build up your credit score, transfer an existing balance, or you might even want a secure way to spend money abroad.

    Whatever the reason, it’s important to be responsible with your credit. That means making regular payments on time, only spending what you can afford to pay back, and clearing your balance as soon as possible.

      What are the benefits of credit cards?

      Credit cards can be useful for spreading the cost of big purchases or helping build up your credit score. They can also offer extra benefits, like rewards or cashback. Some of the main types of credit cards are:

      How to find the best credit card for you

      We all have different financial needs and goals so there’s no one-size-fits-all card that works for everyone. It’s important to shop around and research the different options available.

        Looking for a way to help spread big costs?

        Then a purchase card could be what you need. This card might offer a 0% interest purchase period, which can help spread the cost of larger purchases.

          Want to build your credit score or have bad credit?

          If you’ve got a low credit score or you don’t have much in the way of a credit history, you may find it hard to be approved for a credit card, loan or other kind of borrowing. A credit building credit card is a way to borrow a small amount of money and show that you’re capable of paying it back, which can help you to improve your credit rating. The goal is to show that you can be responsible with money.

            Looking for extra rewards and benefits?

            Reward credit cards sometimes have monthly or annual product fees or charges but they often also offer extra rewards and benefits, like points earned on everyday shopping, travel insurance or money off flights.

              How do balance transfer cards work?

              A balance transfer credit card allows you to move a balance or debt from a card with a high interest rate to a new card with a lower rate – so you could end up paying less interest each month.

              It’s worth remembering that banks might charge a fee for balance transfers.

              Typically, you can transfer up to 90 to 95% of your available credit limit. This is to make it easier for you to stay within your agreed credit limit when you make the transfer.

                Looking for a credit card?

                Check out our range of credit cards.

                Credit card repayment calculator

                Find out how much you could save by changing the way you pay off your credit card. Simply put the details from your credit card statement into our calculator. Then adjust the amount of your monthly payment and see how much you could save by paying a higher fixed amount you can afford each month.

                  Important information

                  The content on this page aims to offer an informative introduction to the subject matter but does not constitute expert financial advice specific to your own situation. All facts and figures were correct at time of publication and were compiled using a range of sources.

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