Cash in on credit card sign-up deals
Credit cards offer incentives to lure your custom. If you could easily save hundreds this year by signing up for a card, would you do it?
As the credit card market becomes increasingly competitive, a number of lenders are offering attractive sign-up deals to secure our business.
We’ve rounded up some of the highlights…
0% on balance transfers and purchases
By shifting an existing debt onto a 0% balance transfer credit card, you could avoid interest – therefore paying down your debt more quickly and cheaply.
Related links
At present, Barclaycard offers the longest balance transfer period with 20 months for a 3.2% fee. However, if you only require a 19-month 0% deal, it is possible to pay a fee of 2.4%.
Borrowers who are planning to make an expensive purchase could consider a card with 0% purchasing power. As market leaders, both Tesco and Marks & Spencer carry 15 months interest free.
£90 worth of vouchers with AMEX
With the American Express Rewards card, you could earn up to £90 worth of gift vouchers in the first three months which can be spent in big-name retailers.
As part of a three-month introductory offer, you receive up to 18,000 bonus points (worth £90) if you spend £500 per month on the card. These points can then be redeemed at retailers including House of Fraser, Boots and HMV.
Related links
Outside the introductory offer, you also get points for everyday spending. Supermarket spending earns three points per pound and department store spending earns two points for every pound. Otherwise, you will earn one point for every pound you spend.
Exclusive £115 from AMEX
Allowing you to earn up to £100 in three months, the American Express Platinum Credit Card is widely recognised as one of the top cashback cards. Now, you could get an extra £15 if you apply successfully through BeatThatQuote.com.
The welcome bonus is on top of the card’s market-leading cashback deal which pays 5% in the first three months up to £100. After the introductory period has expired, you earn up to 1.25% depending on your spending.
With a 19.9% APR Representative, you could face expensive interest payments if you don't clear the balance in full each month. Should this happen, your interest payments may outweigh any cash you have earned as rewards.
Further, it is essential to note that this card is aimed at ‘good credit customers’ and you will need a household income of at least £30,000.
Already aced our first credit card quiz? If you enjoyed that, it’s time to pit your wits against our latest set of mind-bending questions.
Introductory bonus miles
Borrowers who successfully apply for the British Midland International American Express Credit Card in July will receive an extra 10,000 bonus miles. You’ll also receive an further 20,000 miles if you spend £250 on the card within the first 90 days.
This means you could earn enough points for two return flights to zone 1 destinations such as Berlin, Vienna and Dublin.
Don’t forget your current account
As part of a six-month introductory offer, new customers who open a current account with RBS or NatWest will receive 2% cashback on debit card spending – up to a maximum of £125.
Put simply, you will need to spend £6,250 in six months to earn the maximum possible rewards. Although this sounds high, it may be possible if you use the account for all your spending or are facing a particularly expensive period.
A word of warning
Although sign up offers could potentially save you hundreds of pounds, it would be a mistake to blindly apply for every eye-catching deal.
Bear in mind, many of the most competitive offers are only available to those with good, or excellent, ratings so it might be worth checking your score before you apply.
Also, try not to make multiple applications at the same time. Doing so could further damage your score and give the impression you are in desperate need of credit.
**This material is for information purposes only and should not be considered financial advice. We strongly encourage our readers not to rely solely on this content, but to seek independent advice when making financial decisions.**
