The cheapest credit cards for 2012

Wednesday, 08 August 2012 06:00

There are a wide variety of different types of credit cards that suit every type of spending.

If you travel extensively there are credit cards that will suit your lifestyle. Likewise, if you owe money on another credit card then there are deals geared up for balance transfer credit cards.

There are cards to suit spenders looking for cashback, credit cards that reward people who drive a lot and cards specifically for people with bad credit. will come back to look at these sort of deals in the coming weeks but today we are going to focus on the cheapest credit cards.

This takes two forms. First of all, we will show you the top five credit cards that have the lowest rate attached to them and secondly, we will look at the top five credit cards with the most generous interest-free introductory period.

Sainsbury's are at the top of the best-buy tables for standard rate deals and have a credit card that charges just one low-fee of 6.9 per cent

The cheapest standard rate credit cards
Provider Card Type Rate % Min Income (annual) Comments
Sainsbury's Bank Low rate Mastercard 6.9 N/A  No balance-transfer fee
Barclaycard Platinum simplicity Visa 7.9 £20,000 Pay for items up to £20 contactless
Capital One OneRate MasterCard 9.9 £10,000  
Co-operative Bank Platinum fixed rate Visa 9.9 £25,000  
Saga over-50s Platinum Visa 11.9    

All of these credit cards provide cardholders with an interest-free period of between 50 and 60 days

NatWest is our top credit card for interest-free purchases. You will pay no interest for the first 18 months that you hold the credit card for.

The longest interest free purchase credit cards
Provider Card Type interest-free period Min income (annual) Comments
NatWest YourPoints Mastercard 1st 18 months £10,000 Reverts to a rate of 17.95 per cent
Tesco Bank Clubacrd Credit Card 1st 16 months £5,000 Doubles up as a clubcard
M&S Money Mastercard 1st 15 months N/A Cannot apply for this card if you have had a M&S ccard in past year
Halifax All in one Mastercard 1st 15 months N/A 15-month interest-free on balance transfers too
Barclaycard Platinum purchase Visa 1st 14 months £20,000 Reverts to APR of 18.9 per cent



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