If you are shopping around for a credit card, then you might want to do some research before you make a decision. There are many different types of credit cards on the market today; some with good deals on balance transfers, some with cash back and some with cheaper interest rates.

The card with the one of the cheapest interest rates around at the moment appears to be Barclay’s Goldfish card, with and APR rate of 9.9% and 9.9%on both balance transfers and purchases and unlimited reward points. If you can avoid it never use your credit card to draw out cash as this rates a much higher premium, especially over the long term.

Nat West Gold card has an APR rate of 16.9%, 8.9% for the life of a balance transfer, which is probably better than 0% for six months and a general rate thereafter. Nat West also gives users 9% on purchases for the first nine months.

RBS Gold has an APR of 16.9% and offers 8.9% for the life of balance transfers and for nine months on purchases. The Barclay’s Simplicity card has a great APR rate of 6.8% definitely the best around and it stays low, separate rates on balance transfers and purchases is not applicable with this card.
 

Cash back and rewards points credit cards have been very popular for some time now.
Tesco Club Card has the best offer on cash back, which lasts for 12 months. The card also gives 0% for six months on balance transfers, 0% for 12 months on purchases, club card points and an APR rate of 16.9%.

The Virgin card offers users 0% for 16 months on balance transfers, 0% on purchases for 3 months, an APR rate of 16.6% and discounts on Virgin Media and other products but no actual cash back.

The Egg card has 0% on balance transfers for the next 13 months, 3 months 0% on purchases, an APR rate of 16.9% and up to 10% cash back on items from selected retailers.

Some of these offers are not to be sneezed at but it might be better when you get a credit card to look at what it is going to cost you over the long term, rather than looking for short term benefits. The Barclays Simplicity card has the lowest APR rate of 6.8%, which is a better interest rate than many banks and building societies offer on personal loans. If you always pay your credit card bill in the allotted time then it probably won’t matter very much for you but if you have a large purchase that you are paying off on a monthly basis, then 6.8% compound interest is probably the best way to do it.