Creation credit cards
Four million people in the UK have chosen Creation for a credit card. Creation has been around for nearly forty years and works with numerous nationally-recognised partners.
The Creation group of companies is made up of Creation Financial Services Ltd, Creation Consumer Finance Ltd and Sygma Bank UK.
If you’re looking for a credit card to use on purchases, Creation has 0% interest offers so that you don’t pay anything more than the face value of the purchase, as long as you pay off the balance by the end of the interest free period. Purchase credit cards are great if you have to make a high value purchase that you want to pay off at a later date.
Creation also offers cashback credit cards, allowing you to get something back for the purchases you make on the card. Cashback cards earn you a percentage of what you spend back each time you use the card so they reward you for your spending.
If you have credit card debts on other cards and want to transfer the balance onto a new, lower rate card, Creation has some great offers on balance transfer credit cards too.
Balance transfer credit cards are great for transferring existing credit card debt, and most of the time they will also come with 0% interest on purchases so you can make use of that too
Glossary of terms
APR
This stands for Annual Percentage Rate. Any firm that lends money is required by law to quote the APR. Introductory rates do not include arrangement fees you may be charged and also don’t reflect any higher rate of interest that your borrowings will ultimately revert to. The APR takes into account the interest on a loan plus and additional charges making it easier for you to compare products. In general, the lower the APR the better the deal.
Balance Transfer
Balance transfer rates are applied to existing card debt that is being moved from one issuer to another or a consolidation of other debts. These rates tend to be lower than standard rates and apply to the debt transferred or consolidated for a specified term or until it is repaid in full.
Credit Card
Credit cards are a form of borrowing used to purchase goods and services, to obtain cash advances and for consolidating debt.
Direct Debit
This allows an organisation to take money directly from a persons bank account
Minimum payment
The amount you must pay each month to keep your account in order
Interest-free period
The time between when you buy something on the card and the date when you must pay your monthly bill. This can be 50 days or more and is interest-free. So if you settle your bill in full every month, it's free borrowing.
Promotional Rate
A rate that is applied to your account until a given expiry date. Thereafter it will revert to the rate applicable to your account at that time.
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