1.Barclaycard Platinum 36 month balance transfer card
Barclaycard
- 0.25%Cashback on everyday spending
Get £20 cashback when you transfer a balance of at least £2,500 within 60 days of opening the account.
0.25% cashback on everyday spending.
24.9%-28.9% Variable APR
The Barclaycard Platinum 36-month balance transfer card stands out as the top choice because it offers an impressive 0% interest on balance transfers for up to 36 months, providing significant financial relief for those looking to manage existing debt.
Pros:
- 0% interest on balance transfers for up to 36 months
- No fees for using the card abroad
Cons:
- Cashback does not apply to balance transfers
- Transfer fees may apply
2.Lloyds Ultra Credit Card
Lloyds
- 1%Cashback on all purchases for the first 12 months
- 0.25%Cashback on all purchases thereafter
Earn 1% cashback on all purchases for the first 12 months.
1% cashback on all purchases for the first 12 months, dropping to 0.25% thereafter.
12.9% Variable APR
What sets the Lloyds Ultra Credit Card apart is its straightforward cashback structure, offering 1% on all purchases for the first year, making it an excellent choice for those who want to maximize rewards on everyday spending.
Pros:
- No foreign exchange fees
- No monthly account fees
Cons:
- Cashback drops significantly after the first year
- Interest applies if balance is carried
- 1%Points earned per £1 spent at M&S
- 0.2%Points earned per £5 spent elsewhere
Earn 4,000 bonus points (worth £40 in M&S vouchers) when you spend £1,000 in the first 3 months.
1 point per £1 spent at M&S, 1 point per £5 spent elsewhere.
23.9% Variable APR
The standout feature of the M&S Reward Credit Card is its ability to convert spending into M&S vouchers, making it ideal for frequent shoppers at M&S who want to earn rewards on their everyday purchases.
Pros:
- Earn points that convert to vouchers
- No annual fee
Cons:
- Higher APR for cash advances
- Points cannot be earned on balance transfers
4.Amex Cashback Everyday Credit Card
American Express
- 5%Cashback on spending for the first 5 months
- 0.5%Cashback on spending up to £10,000 annually
Earn 5% cashback on spending for the first 5 months, capped at £125.
5% on spending for the first 5 months, then 0.5% on up to £10,000 annual spend.
29.4% Variable APR
This card shines for its generous introductory cashback offer of 5% for the first five months, making it an attractive option for new cardholders looking to maximize their rewards quickly.
Pros:
- Strong introductory cashback offer
- No annual fee
Cons:
- Higher ongoing APR
- Requires minimum spend to earn base cashback
5.Halifax Clarity Credit Card
Halifax
- No rewards breakdown available
N/A
N/A
23.9% Variable APR
A key differentiator for the Halifax Clarity Credit Card is its focus on travel, offering no foreign transaction fees and no cash withdrawal fees, making it an excellent choice for frequent travelers.
Pros:
- No foreign transaction fees
- No cash withdrawal fees abroad
Cons:
- No general cashback rewards
- Interest charged on cash withdrawals
Final Words
As you navigate the various credit card options available this January, remember that the best choice aligns with your financial goals and spending habits. Take time to compare offers, consider interest rates, rewards, and fees, and make informed decisions that will benefit your financial health.
Frequently Asked Questions
Get £20 cashback when you transfer a balance of at least £2,500 within 60 days of opening the account.
You can earn 1% cashback on all purchases for the first 12 months, dropping to 0.25% thereafter.
You earn 1 point per £1 spent at M&S and 1 point per £5 spent elsewhere. Additionally, you can earn 4,000 bonus points (worth £40 in M&S vouchers) when you spend £1,000 in the first 3 months.
Most cashback cards, like the top choices, have no annual fees, but it's essential to check whether the card you choose has any other fees, such as balance transfer fees or foreign transaction fees, which could affect your overall costs.
Consider your spending habits and whether you prefer rewards like cashback or points. Also, evaluate the welcome bonuses, annual fees, and ongoing rewards structure to find the best fit for your financial goals.
Yes, you can transfer a balance when you apply for a new Barclaycard. It's important to complete the transfer within 60 days to take advantage of the benefits.
Eligibility for a credit card typically depends on your credit score, income, and financial history. Lenders assess these factors to determine your risk level and whether to approve your application.
