Comparing UK 0% credit cards online since 2002What are no annual fee credit cards in the UK? How many credit cards with no annual fee, are currently available in the UK card market? What is an annual fee on a credit card?
These are all common questions that we have seen UK customers asking, on a regular basis over the last few months, on the topic of a credit card with no annual fee.
Credit Card Annual Fee
So what is a credit card annual fee? The annual fee is regularly defined as the yearly amount that a credit card company will charge a customer for having the use of that credit card.
The annual fee is charged once a year to the customer. The credit card annual fee is usually charged on the anniversary of the month the card was first taken out. So if you make a successful credit card application in January, then your next annual fee would be due, in the following January.
Those UK credit cards that do currently charge a yearly fee, generally offer some type of rewards to the customer. These rewards can take the form of cashback, airline, or alternatively hotel rewards points.
Credit Cards With No Annual Fee
No annual fee credit cards in the UK, are credit cards where the card company does not charge the customer a yearly fee, for the use of the card.
In the UK credit cards with no annual fee, like the Marks and Spencer 0% credit card, for example, are the most common type of 0% cards currently available. There are only a very small number of 0% credit cards that do currently charge a yearly fee, now available to new customers.
An annual fee credit card in the UK is now quite rare. Many of these fee charging cards, that were once on the UK card market, are now no longer available to new customers. Some existing customers still use their cards and continue to pay the annual fee. However, many other customers have now switched to using no annual fee credit cards for their daily card usage.
Credit Card Application No Annual Fee
Customers can apply for a credit card with no annual fee online. UK credit cards with no annual fee are offered by most of the main banks and card companies. Many of these UK cards are an instant credit card, where the customer can get an instant approval decision during the application process.
There are currently around 60 UK credit cards available online, which have 0% introductory offers. At the time of writing, only 3 of these 0% interest credit cards, currently charge an annual, or monthly fee.
All of the following featured credit card offers have no annual fee:-
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- 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% 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% on balance transfers for 12 months from the date your account is opened
- 3% balance transfer fee in first 60 days, 5% fee applies after 60 days
- 0% on purchases for 3 months from the date your account is opened
- Discounts on Virgin holidays, Virgin trains and Virgin experience days
- Contactless payments to quickly and securely pay for purchases up to £100
- Online card servicing
- Annual Fee: None
- You are a UK resident
- You have a bank or building society account
- You have a good credit history
- You are aged 18 or over
- 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)
- 0% interest on purchases for up to 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
- 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 12 months on balance transfers made within 90 days of account opening
- 3.49% balance transfer fee, minimum £5
- 0% on purchases for up to 20 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 Annual Fee Credit Card
A credit card with no annual fee, may however still charge other fees. These fees may or may not apply, depending on how you use your credit card. Using your card to make a credit card cash advance, for example will always result in a fee, and will also incur interest charges.
If you go above the maximum credit card limit you have been given, then many UK card companies will also charge a fee. In addition, a balance transfer fee is charged by most of the UK 0% credit cards currently available. This fee will only apply if the customer makes a balance transfer to their card. This balance transfer fee is a percentage of any balance transfer, the customer may make.
A credit card without an annual fee, does still offer a customer the other benefits of a credit card. This will include any introductory 0% offers available on the card. Customers also benefit from the purchase protection provided under section 75 of the Consumer Credit Act.
This act of law provides additional purchase protections for you as a customer. This does mean that your credit card company must take the same responsibility as the retailer, if things go wrong with a purchase, made using your card.
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