Credit card guides

When you take out a credit card from a selected provider, you’ll be eligible for SuperSaveClub rewards. At the moment, not all providers are part of our rewards programme. When you search for a credit card with us, you’ll be able to see which providers are part of the programme, as the cards that come with a SuperSaveClub reward will be highlighted in your results. 

The providers who are currently signed up to SuperSaveClub are: 

• Aqua 

• BIP 

• Capital One 

• Fluid

• Halifax 

• HSBC

• John Lewis Finance 

• Lloyds 

• Marbles 

• MBNA 

• Natwest Bank 

• Ocean Finance

• Post Office 

• Santander 

• Vanquis

• Yonder 

• Zable 

• Zopa

APR stands for Annual Percentage Rate and it represents how much it’ll cost to borrow money on a particular credit card. It’s calculated by taking into account: 

• Your interest rate 

• Additional fees and charges. 

However, you might see the term ‘representative APR’ on adverts for credit cards – this means that the interest rate quoted only has to be offered to at least 51% of successful applicants, so it may not be the actual rate you get when you apply. 

When deciding which credit card to apply for, first consider what you want to use the credit card for – cards come with different features that are useful for different purposes.

If you have a large purchase coming up, you might want to spread the cost with a 0% purchase card, if you fly a lot you might want an airmiles card, and if you want to transfer a balance to avoid interest payments, a balance transfer card could be ideal.

By comparing with us you’ll be able to see a list of credit cards, so you can browse at will and choose which one suits you best.

You’ll get a cooling off period of two weeks from when you receive your card, and you’ll have 30 days to pay off your balance. You can cancel by contacting your bank or building society, either by post, phone, online, or in-branch.

However, if you want to cancel your card after the cooling off period, your account balance generally must be zero.

If you miss a repayment on your credit card balance, you likely have to pay a penalty fee. What’s more, if you have any type of promotional offer with your card, such as an interest-free deal, this may be cancelled, and a missed payment may have a negative effect on your credit score.

Lenders will not be able to see if you have been accepted or not, although each application you make will leave a mark on your credit report. However, with MoneySuperMarket, only a soft credit check will be used, which will have no impact on your credit score.

Unlike many loans and mortgages, you generally won’t be charged for making early repayments on your credit card – which means it’s a good way to get ahead of your balance.

You can’t get joint credit cards in the same way as bank accounts and mortgages, but you can add additional users to your own credit cards. However, you should remember that it’s still the primary cardholder’s responsibility to pay off the balance. 

You can cancel your credit card by contacting your lender, by phone, email, online, post, or in person if they have a local branch. 

In most cases your provider will set your credit limit after you’ve been accepted. So you will not be able to ‘apply’ or request a certain spending limit. Your credit limit will be based on your income, financial circumstances and your credit score as well as the individual policy of the card provider. Card issuers will want to be satisfied that the limit is affordable for you. You’ll be told what it is once your application is approved and your account is open. 

Whether you're approved or not will depend on your personal circumstances. There's no universal standard applied by lenders. But factors that will influence your eligibility include: Your income, age (you must be over 18 in most cases), your financial history and your credit score.

You can overpay on your credit card and that happens when you pay back more than you owe on your balance. When you do this, you’ve cleared your balance, but you’ve gone a step further and your card issuer now owes you money.

Yes, you can have multiple credit cards but keep in mind that if you’re struggling with one credit card it’s best not to get any more. 

Personal loans offer a fixed amount with set repayment terms and predictable monthly payments, making them a reliable alternative for managing expenses and avoiding high interest rates. However, you won't be able to enjoy 0% periods like you can with certain credit cards.

For most people, it won't matter too much whether you choose a Mastercard or Visa, as both are accepted worldwide and there are very few differences between the two. Both Visa and Mastercard come with their own exclusive benefits, but it’s the perks offered by the bank issuing your card – such as cashback, loyalty points or air miles – that are more enticing and therefore should carry more weight in your decision.