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Credit Card Annual Fee?

Credit Card Annual Fee

What is a credit card annual fee? How many UK 0% credit cards currently have an annual fee? Are there any no annual fee credit cards in the UK?

These are some of the most recent questions regarding credit cards and annual fees that we have seen UK customers asking over recent months.

At 0% Credit Card Expert, we aim to try and explain all aspects of the UK 0% credit card market. We also aim to try and explain the many terms involved with using a credit card.

Credit Card Annual Fee

So what is a credit card annual fee?

The annual fee can be defined as the annual amount that a credit card company will charge a customer for having the use of that credit card. The fee is usually charged once a year to the customer, although a small number of cards do now charge a monthly fee.

The annual fee will appear on the customers statement once per year. The fee is usually charged on the anniversary of the month the card was first taken out.

Most UK 0% credit cards, including the popular HSBC credit card offers do not currently charge a credit card annual fee.

Those UK 0% credit cards that do currently charge an annual fee, generally offer some type of rewards to the customer. These rewards can take the form of cashback, airline or hotel rewards points.

Annual Fee Credit Cards

How many 0% credit cards have an annual fee?

Here at 0% Credit Card Expert we have details of every UK 0% credit card currently available online.

There are currently around 50 UK 0% credit cards available online. At the time of writing, only 3 of these cards currently charge an annual or monthly fee.

Most annual fee credit cards in the UK offer shorter than average 0% introductory offers. However, these cards usually do come with cashback, or reward points for either airlines or hotels.

Credit Cards No Annual Fee

There are many more UK 0% credit cards that do not currently have a annual fee. These no annual fee credit cards, include all of the following popular featured cards:-


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0% Credit Card Offers

Balance Transfers:
0% for 29 months
Balance Transfer Fee:
2.75%
Purchases:
0% for 3 months
Representative APR:
21.9% APR (variable)
More Information

Credit Card Details

HSBC Balance Transfer*
  • 0% interest for 29 months on balance transfers made within first 60 days of account opening
  • 2.75% 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
More Information

Application Criteria

HSBC Balance Transfer*
  • 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
More Information
Representative Example: 21.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 21.9% p.a. (variable)
Credit is subject to status, affordability and applicable terms and conditions

0% Credit Card Offers

Balance Transfers:
0% for 24 months
Balance Transfer Fee:
3%
Purchases:
0% for 4 months
Representative APR:
20.6% APR (variable)
More Information

Credit Card Details

Co-operative Bank Balance Transfer
  • 0% interest for 24 months for balance transfers made within 60 days
  • 3% balance transfer fee, minimum £5
  • 0% interest on purchases for 4 months from account opening
  • All successful applicants will receive this exact rate and offer
  • Online account management
  • Annual Fee: None
More Information

Application Criteria

Co-operative Bank Balance Transfer
  • Only available to customers who have held a Co-operative Bank or smile current account for 1 month or more
  • You are a UK resident
  • You have annual income of £10,000 or more
  • You are aged 18 or over
More Information
Only available to Co-operative Bank customers
Representative Example: 20.6% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 20.6% p.a. (variable)

0% Credit Card Offers

Balance Transfers:
0% for up to 24 months
Balance Transfer Fee:
3%
Purchases:
0% for 3 months
Representative APR:
34.9% APR (variable)
More Information

Credit Card Details

Capital One Balance Transfer
  • 0% on balance transfers for up to 18 months
  • 3% balance transfer fee
  • 0% on purchases for 3 months
  • Credit limit up to £86000
  • Online account management
  • Annual Fee: None
More Information

Application Criteria

Capital One Balance Transfer
  • You are a UK resident
  • You have had credit cards in the past
  • You are a home owner
  • You have an income of more than £20,000 per year
  • You are aged 18 or over
More Information
Representative Example: 34.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 34.94% p.a. (variable)

0% Credit Card Offers

Balance Transfers:
0% for 18 months
Balance Transfer Fee:
2.9%
Purchases:
0% for 18 months
Representative APR:
22.9% APR (variable)
More Information

Credit Card Details

HSBC Purchase Plus*
  • 0% interest for 18 months on balance transfers made within first 60 days of account opening
  • 2.9% balance transfer fee applies (minimum £5)
  • 0% interest on purchases for 18 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
More Information

Application Criteria

HSBC Purchase Plus*
  • 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
More Information
Representative Example: 22.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 22.9% p.a. (variable)
Credit is subject to status, affordability and applicable terms and conditions

A credit card annual fee should not be confused with a balance transfer fee. This fee is charged by the credit card company as a percentage of the balance transfer amount.

An annual fee is only charged by a very small number of UK 0% credit cards. However, balance transfer fees do apply to most currently available 0% credit cards when making a balance transfer.


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Published: February 12, 2021, Updated: March 26, 2021 by 0% Credit Card Expert

All 0% credit card deals and offers on this website are updated daily