Credit card deals for spending!

The beauty of credit cards for many people is that it simply gives a delay in payment. On most credit cards you can achieve a delay of 59 days between purchase and payment simply by timing the purchase well. Many people would like more than that. To achieve that they would have to look for a credit card that gives 0% on purchases. Some of these also come with 0% balance transfer deals, and some come with reward schemes. It depends on your circumstances and exactly what you want. You might be better off with two cards. Here are some of the best 0% on purchases deals currently around.

HSBC’s credit card offer gives you 0% on purchases for 12 months from account opening and 4.9% on balance transfers until 31 January 2012 (made within 30 days of account opening) – ideal if you are looking to transfer balances from your existing non–HSBC Bank credit cards and store cards. Conditions and a 2.5% balance transfer fee apply (minimum £5). Typical APR is 15.9% after the initial period.

The Barclaycard Platinum Purchase Credit Card gives you 0% on purchases for ten months and 5.9% on balance transfer for the life of the balance with no handling fee. Barclaycard has no annual fee, confidential advice if you become an identity theft victim with their Identity Protection Service, safer shopping with Fraud Protection – including chip and PIN, and watching for unusual spending on your account. They offer Purchase Delivery Protection – protecting your online, phone or mail orders against loss or damage, from despatch to door (excludes second-hand goods and services). When abroad Barclaycard offers emergency help, and great holiday deals with their Travel Service. You can manage your account online, and opt for text alerts five days before payment is due. To get the card you will need a good credit history, to be 21 or over, have a regular income of more than £10,000 pa, not to have missed multiple payments on a credit agreement within the last 12 months, and have no CCJ, IVA or been registered bankrupt. You cannot be an existing Barclaycard customer.

The MBNA Platinum Rewards Card offers 0% on purchases for nine months and 0% on balance transfers for nine months with a 3% balance transfer fee. There is no annual fee on the card. The card enables you to earn points when you shop and redeem them against flights, shopping vouchers and cash. You can use this service as your own personal travel agency and redeem your points for an endless choice of flights, hotels, package holidays, city breaks and car hire. You can pay part points and part cash. You can buy a range of items from DVD players and televisions to family treats. You can use your points in exchange for vouchers from high street shops including Selfridges, John Lewis, Boots, Halfords, WHSmith, Debenhams, and others. You can choose wines from around the world. If you prefer straight cash, you can exchange your points for this too. It is easy to earn your points – using your card for your everyday card purchases such as food, petrol and going out, earns 1 point for every £1 spent. In addition you receive 2,000 bonus points within 90 days from the date your account is opened. Typical APR is 15.9%.

The Barclaycard Platinum Credit Card gives you 0% on purchases for three months and 0% on balance transfer for 14 months with a 2.5% handling fee. Apart from the differences shown here the card is just like the Platinum Purchases Credit Card discussed above. Typical APR is 14.9%.

The MBNA Platinum Plus Card offers 0% on purchases for three months and 0% on balance transfers for 12 months with a 3% balance transfer fee. There is no annual fee on the card. Unlike the MBNA Platinum Rewards card there are no rewards with this card. Given the time scales involved, this card is better for transferring an outstanding balance rather than making purchases. Typical APR is 15.9%.

Tesco’s offering is their Club Card credit card, which offers 0% on purchases for three months and 0% on balance transfers for 12 months with a 2% transfer fee. You also get 0% on all Tesco purchases for twelve months. With this card you also get Tesco Clubcard points.

With 0% on purchases for nine months, 0% on balance transfers for nine months, and a whole range of rewards the MBNA Platinum Rewards Card seems to offer the widest range of benefits of all the cards discussed here.

If you simply want 0% on purchases for as long as possible then the HSBC Credit Card is your best option as it gives you the longest period – 12 months – but don’t use it for transferring your balance as it will cost you more than you need to pay.