Where To Find A No Fee Credit Card

by Emma Adams on January 30, 2012

Those who live in the United Kingdom and prefer to use a no fee credit card will be happy to learn that most banks in the country offer such products. Among them are Halifax, Tesco Bank, HSBC, and others. While many of the products look like a great deal, it is important to check whether you won’t be charged something else as to make up for the annual fee

One thing to look into is whether the bank is not recouping the annual fee in some way, for example, by charging a high interest rate. Then, does the bank charge more for going over the limit and defaulting on payments? The bank may offer credit cards with no annual fee, but you may not be able to benefit from a zero percent interest as part of an introductory offer.

It should be mentioned that non-bank credit cards and cards that are branded in a different way than the bank’s main credit card (derivatives) are offered with a higher interest rate compared to bank-issued standard credit cards. For example, you may incur a high penalty interest if you are late on payments, and cash advances may be offered with high interest rates.

It is a good idea to shop around and look for beneficial features such as a long introductory period, contactless payments, discounts on experiences, days out, and holidays, bonus points, and other features. There are many offers to look into, one being Platinum Simplicity, offered by Barclays. Clients of Barclays who opt for this card get a 7.9 APR, no annual fee, and a 250 minimum credit limit. Cardholders benefit from the bank’s reward program and earn points when shopping at participating retailers, among which Hawes and Curtis, Pizza Express, Spirited Wines, and many others. Capital One also offers a no annual fee credit card to its customers in the UK. Clients of the bank who opt for the Capital One World MasterCard enjoy a variety of beneficial features, including online banking, identity theft assistance, purchase protection, no annual fee, and more. The interest rate is set at 19.9 APR, and the credit limit is 1,200. The interest-free period is 45 days on condition that the balance is paid in full, and it applies to purchases.

The HSBC Bank Credit Card is another option to check, offered with no annual fee, 16.9 percent APR, no interest over the first fifteen months, applicable to balance transfers, and supplementary cards. This credit card is offered with a variety of added benefits, such as holiday discounts, online banking, 24/7 worldwide assistance, and more. Those who choose to book a vacation package through the bank’s Travel Service get 8 percent off. Persons who hold this card can make emergency cash advances in case it is lost or stolen. There are many other offers to look into, and it is important to pay attention to all beneficial features that go with the card, including online fraud guarantee, free travel accident insurance, cash back, and many others. Some banks, for instance, Halifax feature the so called ‘worthy cause’ cards, offered to clients who would like to support a worthy cause.

Get the latest about ING Bank UK and National Westminster Bank here.

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