Comparing Credit Cards
Monday, February 1st, 2010
When it comes to comparing credit cards, it’s best to always shop around because credit nowadays can be expensive and if you’re not careful, then you could be paying over the odds for what is a competitive financial product.
There are a huge number of credit cards out there all vying for your business and the best way to get a handle on what’s on offer is to use a good credit card comparison site.
And without a good credit card comparison site, it is very difficult to find the deal that best suits you, not only in terms of interest you’re paying on the money you might ‘borrow’ on the card, but also in terms of its flexibility.
Also, it’s best to be aware that each card has particular strengths and weaknesses, which means it is worth matching a card with your particular purchasing profile, so as to get the best deal out there.
So a good credit card comparison website will make that search so much easier for you and categorise cards in terms of their strengths. For example, up first in any comparison list should be the top cards, the ones that not only are good in terms of money, but also have a few other goodies attached as well.
Next category often features those cards which offer good balance transfer deals. This is a key starting point for those wishing to compare credit cards. If a card won’t give you a good deal on a balance transfer, then ignore it. What you’re after here is a low-rate incentive to get you to move and then some more goodies thrown in (such as purchase protection schemes).
Then the comparison site might look at those cards which give the best rates when it comes to purchasing goods, a good thing to consider if you intend to hammer your credit card.
Further categories might include those cards that offer rewards, are geared towards travel offers, or standard rates. A upmarket section is usually included, as Platinum cards tend to cost more, but do have added incentives attached. Business cards for those that need that facility are also usually included and an interesting category, and on highly relevant in today’s straightened times, are Credit Builder cards.
These are geared towards people with a less than perfect credit history who want to demonstrate that they can use a credit card sensibly again over a period of time. The downside with these cars of course are high interest rates and low amounts of credit on offer, but they can make all the difference to someone who needs to prove they are financial viable again.
A more advanced search will look at particular needs, including 0% balance transfers; no balance transfer fees; purchase incentives; low interest rates; no annual fees; high credit limit; 0% charges of foreign currency transfers; and, cashback deals.
And once you have decided upon your personal parameters, you then get down to the business of comparing. A good search engine for comparing credit cards should give you the name of the provider (Barclays, HSBC etc); the rate offered on balance transfers (plus the length of that rate); same with the purchase incentives; the typical variable Annual Percentage Rate, or APR as its known; and, any benefits that the card might have.
Armed with all that, you will then be able to make a sound decision when it comes to comparing credit cards.
Guest Article by Neil Camp


My name is Alan Potts and I'm the Editor of the BUYability web site and Managing Director of BUYability Limited. You can connect with me or keep up to date with new posts on this blog via the following social media sites: 








