The offers and deals on 0 percent credit cards are constantly changing in what is a highly competitive UK credit card market.
0 percent credit cards are one of the main ways, that the different credit card companies and banks, operating in the UK credit card market, compete with each other for new customers.
0 percent interest credit card deals offer new customers an introductory 0 percent deal, for a limited time period. After this introductory period, the interest rate returns to the standard interest rate, which is often around 24.9% APR variable.
There are currently over 60 UK credit cards with 0% credit card offers available for online applications.
Many of these are 0 percent balance transfer credit cards, which offer customers 0% on balance transfers. Other cards have a longer 0 percent purchase credit card deal. A very small number of cards are also available with equal length 0% offers on both balance transfers and on purchases.
0 Percent Balance Transfer Credit Cards
0 percent balance transfer credit cards allow you to make a balance transfer from an existing credit card to a new card, that has a long 0 percent introductory deal on balance transfers.
By making this type of balance transfer you can save money by paying no interest during the introductory 0% offer period. In most cases you will, however, have to pay a balance transfer fee to the company providing the new 0% card.
All of the following featured cards currently have a long 0 percent balance transfer card offer:-
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- 0% interest for up to 26 months on balance transfers made within first 60 days of account opening
- 3.49% balance transfer fee applies (minimum £5)
- 0% interest on purchases for 3 months from account opening
- At end of promotional period, balance transfers and purchases will revert to standard variable rate
- Worldwide offers and discounts with HSBC home&Away
- Manage your card online
- Annual Fee: None
- You have an annual income or pension before tax of £6,800 or more
- You are a UK resident
- You are aged 18 or over
- You do not hold an HSBC Basic bank account
- 0% for up to 26 months on balance transfers made within 90 days of account opening
- 3.49% balance transfer fee, minimum £5
- 0% on purchases for 3 months from account opening
- Collect M&S points every time you shop anywhere in the world with your card
- One point for every £1 you spend in M&S and one point for every £5 you spend elsewhere
- Manage account online
- Annual Fee: None
- You are a UK resident
- You have an annual income or pension of at least £6,800
- You are aged 18 or over
- You have not held a credit card with M&S Bank within the previous 12 months
0 Percent Purchase Credit Card Deals
0 percent purchase credit card deals allow you to make larger purchases using your card. These purchases could be of household furniture or new electrical goods, for example. You can then pay no interest on these purchases for the length of the introductory 0 percent offer period.
All of the following featured cards currently have a long 0 percent purchase credit card deal:-
- 0% on purchases for up to 20 months from account opening
- 0% for up to 12 months on balance transfers made within 90 days of account opening
- 3.49% balance transfer fee, minimum £5
- Collect M&S points every time you shop anywhere in the world with your card
- One point for every £1 you spend in M&S and one point for every £5 you spend elsewhere
- Manage account online
- Annual Fee: None
- You are a UK resident
- You have an annual income or pension of at least £6,800
- You are aged 18 or over
- You have not held a credit card with M&S Bank within the previous 12 months
- 0% interest on purchases for up to 18 months from account opening
- 0% interest for up to 16 months on balance transfers made within first 60 days of account opening
- 3.49% balance transfer fee applies (minimum £5)
- At end of promotional period, balance transfers and purchases will revert to standard variable rate
- Worldwide offers and discounts with HSBC home&Away
- Manage your card online
- Annual Fee: None
- You have an annual income or pension before tax of £6,800 or more
- You are a UK resident
- You are aged 18 or over
- You do not hold an HSBC Basic bank account
- 0% on purchases for up to 12 months
- 0% on balance transfers for up to 12 months
- 2.9% balance transfer fee
- Credit limit up to £8,000
- Online account management
- Annual Fee: None
- You are a UK resident
- You have a bank or building society account
- You are aged 18 or over
A very small number of UK credit cards have equally long 0% offers for both balance transfers and purchases. With these cards you can make both a balance transfer, and also make purchases using the same card. These types of cards allow you to benefit equally, from both of the 0% introductory offers.
It is important that a customer making use of any 0% credit card always ensures that at least the credit card minimum payment is made each month.
Many banks and card companies will withdraw the customer’s 0 percent introductory offers if any payment is missed. We would always advice credit card customers to set up a monthly direct debit. This should be for at least the minimum monthly payment required.
0 percent credit card offers are available in the UK for both MasterCard and Visa branded credit cards.
At one time there were well over 120 credit cards with 0% offers available. in the UK card market. Many cards like the AA credit card, for example, are now no longer available to new customers.