With another credit crunch supposedly looming on the horizon, people are being extra careful with their finances this year, but summer especially can be an expensive time of year with holidays and family days out eating into your finances. Anyone who is worried about going into the red should therefore be looking for a credit card that offers a great deal on purchases. You should be looking for cards that offer up to 15 months interest-free spending, you can then pay off what you owe without worrying about incurring interest charges. Here, we take a look at some of the best purchase credit cards currently available.
M&S Credit Card – This is the best credit card at the moment as it offers 15 months of spending at 0%. The card also has a reward scheme that gives you one M&S point – 100 of which get you £1 off your shopping bills – for every £1 spent in M&S stores and one point for every two points spent elsewhere. And you get up to 55 days’ interest-free credit – when you pay your balance in full and on time each month
Tesco’s Clubcard Credit Card – also offers 15 months at 0% (and nine months at 0% on balance transfers, subject to a fee of 2.9% of the amount being transferred) as well as a Tesco Clubcard points reward scheme. You also get a £5 Gift Card for money off your next fill up. Minimum spends applies. Maximum 51 days interest free credit for purchases if you pay your balance in full and on time, and have paid the previous month’s balance in full and on time.
Barclaycard Platinum with Purchase Credit Card gives you access to the Barclaycard Freedom reward scheme and also offers 14 months at 0% on both purchases and balance transfers. This makes it a good choice for anyone with debts to switch from another card or current account overdraft, for example, although the balance transfer deal includes an up-front fee of 2.9%.
Virgin Credit Card offer 13 months on both balance transfers, subject to a slightly lower fee of 2.89%, and purchases, 3 months for 0% on purchases, no annual fee, 24/7 help-line, and online account management. On top of the standard credit card features, the Virgin Credit Card offers an amazing set of rewards from Virgin partners which include discount on Virgin Wines, trains and holidays.