19 May 2013 :

Credit Building Blogs

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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

Get 0.5% cashback on all your purchases (No Cashback Limits)
60 second application response - credit limit up to £1,500
Conditional £10 annual bonus for paying on time each month

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%
3 mths
29.9%
APR
Barclaycard Unwind

0% on purchases for 3 months from opening your account
£10 cashback when you spend a minimum of £200 in the first 3 months (Terms & Conditions apply)
Still suitable if you've had CCJs over 12 months ago, but have not missed +2 payments recently

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

Free aqua Credit Checker, worth up to £80.
£250 to £1,600 initial credit limit with possible increase every four months up to £2,700 (subject to status)
Aqua accept people who have had CCJs or are on low income

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

Fixed credit limit to help you stay in control
SMS and online account management
Good for applicants who want to build or rebuild their credit rating

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

Shrink your interest rates to as low as 17.9% p.a. variable
Credit limit up to £1,500
Good credit rating is required

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

Personalise your Credit Card with your Own Photo!
60 second application response - credit limit up to £1,500
Great for applicants who want to build or rebuild their credit rating

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)

Capital One Classic Photocard application

Barclaycard Platinum 18 Month Credit Builder
0%
18 mths
2.90% fee
0%
3 mths
24.9%
APR
Barclaycard Unwind

Credit Building Card with 18Mth 0% Balance Transfers
Pay for items up to £20 with Contactless Payment
Instant decision on most online applications

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).

Barclaycard Platinum 18 Month Credit Builder application

Barclaycard Freedom Rewards
0%
9 mths
2.90% fee
n/a
18.9%
APR
Freedom Reward Vouchers

Earn 17,500 points (£50 worth of vouchers) when you open an account and spend £500 in the first 3 months
0% for 9 months on Balance Transfers (2.9% handling fee)
Collect points on your spending from supermarkets to petrol stations

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

Capital One Classic
n/a
n/a
34.9%
APR
No Rewards

60 second application response - credit limit up to £1,500
Free email alerts to help you stay in control
Good for applicants who want to build or rebuild their credit rating

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

Free aqua Credit Checker, worth up to £80.
Build your credit - Repay on time & your rate could reduce (subject to status)
Aqua accept applications from people who have had CCJs or are on a low income

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

Free aqua Credit Checker, worth up to £80.
£250 to £1,600 initial credit limit with possible increase every four months up to £2,700 (subject to status)
Applications accepted from people who have had CCJs or are on low income

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

Fixed credit limit to help you stay in control
Free fraud monitoring
Good for applicants who want to build or rebuild their credit rating

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

Manageable credit limit between £150 and £1000
Manage your account online 24/7
You must not hold or have applied for a Vanquis, Granite, Aquis or Black Diamond card within the last 6 months

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

Initial Credit Limit of up to £300
No interest charges - Pay a simple monthly fee (based on your balance)
May be suitable for people with a less than perfect credit history

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 Terms & Conditions, 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
2.90% fee
n/a
18.9%
APR
Freedom Reward Vouchers

Earn 17,500 points (£50 worth of vouchers) when you open an account and spend £500 in the first 3 months
0% for 9 months on Balance Transfers (2.9% handling fee)
Collect points on your spending from supermarkets to petrol stations

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
2.90% fee
0%
3 mths
24.9%
APR
Barclaycard Unwind

Credit Building Card with 18Mth 0% Balance Transfers
Pay for items up to £20 with Contactless Payment
Instant decision on most online applications

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

Money

Insurance

Utilities
- Gas & Electric
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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.