Credit Building Blogs
- Benefits of owning a credit card... 17 Jun 2013 | Read More ›
- Credit for your business 22 May 2013
- Which Credit Cards for Foreign Travel? 13 May 2013
- Rewards on the cards 10 May 2013
Credit Building Cards
In normal circumstances, if you have a low credit score or a 'thin' credit rating you may struggle to get a standard credit card. However, many credit card issuers recognise that some people may have changed circumstances and are now able to build a credit rating. For those people issuers provide a credit card to accommodate this need, but at a price. Read more...>
| Product Name | Balance Transfer Intro |
Purchases Intro |
Representative APR (variable) |
Rewards |
|---|---|---|---|---|
-
Capital One Classic Extra
-
n/a
-
n/a
-
34.9%
APR
-
Cashback
Representative Example: 34.9% APR representative (variable). Based on a credit limit of £1,200 and a purchase rate of 34.94% p.a. (variable)
-
Barclaycard Initial
-
n/a
-
0%
5 mths
-
29.9%
APR
-
Barclaycard Unwind
Representative Example: 29.90% APR representative (variable). Based on a credit limit of £1,200 and a purchase rate of 29.90% p.a. (variable)
-
Aqua Classic
-
n/a
-
n/a
-
29.7%
APR
-
No Rewards
Representative Example: 29.7% APR representative (variable). Based on a credit limit of £1,200 and a purchase rate of 29.73% p.a. (variable)
-
Aquis
-
n/a
-
n/a
-
29.8%
APR
-
No Rewards
Representative Example: 29.8% APR representative (variable). Based on a credit limit of £1,000 and a purchase rate of 29.8% p.a. (variable)
-
Capital One Progress
-
n/a
-
n/a
-
29.9%
APR
-
No Rewards
Representative Example: 29.9% APR representative (variable). Based on a credit limit of £1,200 and a purchase rate of 29.94% p.a. (variable)
-
Capital One Classic Photocard
-
n/a
-
n/a
-
34.9%
APR
-
Capital One eXtras
Representative Example: 34.9% APR representative (variable). Based on a credit limit of £1,200 and a purchase rate of 34.94% p.a. (variable)
-
Barclaycard Platinum 18 Month Credit Builder
-
0%
18 mths
2.47% fee
-
0%
3 mths
-
24.9%
APR
-
Barclaycard Unwind
Representative Example: 24.9% APR representative (variable). Based on a credit limit of £1,200 and a purchase rate of 24.9% p.a. (variable).
-
Capital One Classic
-
n/a
-
n/a
-
34.9%
APR
-
No Rewards
Representative Example: 34.9% APR representative (variable). Based on a credit limit of £1,200 and a purchase rate of 34.94% p.a. (variable)
-
Aqua Advance
-
n/a
-
n/a
-
34.9%
APR
-
No rewards
Representative Example: 34.9% APR representative (variable). Based on a credit limit of £1,200 and a purchase rate of 34.92% p.a. (variable)
-
Aqua Classic Card
-
n/a
-
n/a
-
39.9%
APR
-
No Rewards
Representative Example: 39.9% APR representative (variable). Based on a credit limit of £1,200 and a purchase rate of 39.95% p.a. (variable)
-
Vanquis Visa
-
n/a
-
n/a
-
39.9%
APR
-
No Rewards
Representative Example: 39.9% APR representative (variable). Based on a credit limit of £1,000 and a purchase rate of 39.94% p.a. (variable)
-
Argos
-
n/a
-
n/a
-
39.9%
APR
-
No rewards
Representative Example: 39.9% APR representative (variable). Based on a credit limit of £1,000 and a purchase rate of 39.94% p.a. (variable)
-
Black Diamond Visa
-
n/a
-
n/a
-
59.9%
APR
-
No Rewards
- Initial credit limit from £150 to £1,000
- Build your credit limit over time
- Applicants cannot be a current Vanquis Visa card holder, or have applied for Vanquis Visa card in the last 6 months
Representative Example: Purchase annual interest rate 59.94% (variable). Amount of credit £250. Representative 59.9% APR (variable)
-
Shout Visa
-
n/a
-
n/a
-
627.0%
APR
-
n/a
Representative Example: If you spent £300 on a purchase at the start of your agreement, incurred total monthly charges of £540 over a period of 20 months and made repayments in accordance with your T&Cs, your APR would be 627% APR representative (variable)
Near Prime Credit Cards
Near prime credit cards offers consumers a good halfway house between subprime/bad credit credit cards and the best in class products only available to individuals with a great credit score. They enable customer to access many of the benefits that are traditionally only available to prime customers (like rewards and long balance transfer periods) whilst customers continue to build their credit score.
| Product Name | Balance Transfer Intro |
Purchases Intro |
Representative APR (variable) |
Rewards |
|---|---|---|---|---|
-
Barclaycard Freedom Rewards
-
0%
9 mths
2.47% fee
-
n/a
-
18.9%
APR
-
Freedom Reward Vouchers
Representative Example: 18.9% APR representative (variable). Based on a credit limit of £1,200 and a purchase rate of 18.9% p.a. (variable)
-
Barclaycard Platinum 18 Month Credit Builder
-
0%
18 mths
2.47% fee
-
0%
3 mths
-
24.9%
APR
-
Barclaycard Unwind
Representative Example: 24.9% APR representative (variable). Based on a credit limit of £1,200 and a purchase rate of 24.9% p.a. (variable).
Credit Strengthening Cards
Credit card issuers tend to offer credit building cards to customers at higher rates of interest than standard credit cards (to reflect the increase risk of non-payment they are exposed to). However, despite these higher rates credit building credit cards can be a great first step on the road to building or rebuilding ones credit score. This can, in turn, enable's customers with a good history of credit management to access better products.
If you have a good credit history; these products are almost certainly not your best option and you should consider alternative credit cards. If you have already been declined for credit by one of the issuers above you should consider a credit building prepaid card.
Top Tips for Credit Building Cards
- Even if you have previously been refused for a standard card you may be able to get a credit building card
- These cards are ideal if you have credit problems over 12 months old, are new to credit or self employed
- The credit limit will start out low but can increase
- Pay your bill on time and you will improve your credit score.
- Interest rates are high so, if possible, pay off your bill in full each month
Browse credit cards by Issuer
Product Offers
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.
