Uk credit card tier

Jayh90

Does the uk have a credit card tier like the USA. What’s the best starting from the bottoms

Sharon87

Simple answer - no. I've never heard of a credit card tier.

The best credit card depends on your needs - cashback cards, airmiles cards, balance transfers, money transfers... the list goes on.

But for general spending, the lower the interest rate and the best rewards system are the best.

Look here for what you're after:
https://www.moneysavingexpert.com/credit-cards/

jcontest

I am not sure the Americans call it tiers - some help websites might.
The tiers are Bad, Meh, Regular, GotMoney, InviteOnly. None of my American accounts have ever mentioned a "Tier", but perhaps that was because I was stuck in the Meh or Bad group :P.


https://www.moneysavingexpert.com/credit-cards/bad-credit-credit-cards/


A few weeks after my sons 18th birthday we got him to open up a Capital One card, he had no credit history showing at all but was still accepted. At the time he had little to no income to show either. Just read through some of the guides first and understand that applying for too much credit can look bad. So go through the options first and try to pick out just what you need. Sign up for the credit club https://clubs.moneysavingexpert.com/creditclub/login and it might offer some suggestions that gives you what you want.
https://www.clearscore.com/ is similar to MSE Moneyclub, but it is laid out slightly differently and might not give the same offers.

born_again

Just remember that both the sites linked above get a bribe to offer products. So may not actually be the best....

jcontest

born_again wrote: »

Just remember that both the sites linked above get a bribe to offer products. So may not actually be the best....

I wouldn't say affiliated links are "bribes" to offer products.
Not everything MSE has are affiliated. (* on the apply means they are, most are)
Clearscore seems to have only affiliated products (Or they simply don't say if some are not).


Both sort in terms of relevance and not commission.


If you have any sites that provide non-affiliated soft search results then hook us up with that site!

CakeCrusader

There's kind of a tier, it's related to interest rates. At the bottom there's sub prime cards (Vanquis, Aqua, Capital One), their interest rates can be eye watering and they are promoted as being 'credit builder' cards. Next tier has a lower interest rate (Barclaycard Initial, Tesco Foundation). Next tier has a still lower interest rate, and so on. Remember that credit limits and interest rates can vary massively from person to person so this is unlikely to be an accurate reflection at all. Offers also vary with the wind, and each card has their own target customer (just to make it impossible to work out).



If you're starting at the bottom just be aware of the interest rates on the sub prime cards. If they aren't cleared in full a 50% APR is going to eat most of the monthly payment, even more so if only the minimum payment is made, so it will take years to clear it off. It's always best to pay more than the minimum anyway, but this is just something to be aware of.