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The best interest rate you get on a credit card in the UK is currently very low ' so low, in fact, that's it's nothing. Nada. Zip. Zero.
That's no misprint: if you're applying as a brand new customer and you have a clean credit history, it's possible to get a credit card account with 0% interest on balance transfers and purchases in the current market.
Credit card issuers are keen to attract quality, low-risk applicants, and as a result, they're willing to offer some attractive 'promotional"
One such offer is the Bank of Scotland All in One credit card. This account affords new customers the benefit of 0% interest on any purchases made in the first nine months, plus 0% interest for the first nine months on any balance transfers (excluding transfers from existing Bank of Scotland or Halifax cards).
After the interest-free period ends, the interest rate reverts to a low ongoing interest rate of 15.9% - and there's no annual fee payable, ever!
Another options is the Breakthrough Breast Cancer credit card, which offers 0% interest on balance transfers for a whopping 12 months, along with no interest payable on any purchases made within the first three months.
Breakthrough Breast Cancer is a charity that throws resources into research, campaigning and education, so by taking out a Breakthrough Breast Cancer credit card, you'll also be making a difference to the lives of people affected by breast cancer. Thus far, Breakthrough Breast Cancer credit card holders have raised more than £1.3 million, with a minimum of 25p donated to the charity for every £100 you spend on your card.
The Sony credit card, meanwhile, is perfect for those tech-minded credit users who enjoy their home entertainment. The Sony Card is attached to a rewards program that offers access to entertainment through music, movies, games and electronics.
This account provides new customers with a 0% interest rate on balance transfers for 12 months, and 0% on any purchases for the first three months ' and you'll also receive 3,000 bonus Sony Rewards points when you make any purchases on your card in the first 90 days.
With 3,000 points you can claim up to two free DVDs or CDs, a PSP game, or a PlayStation2 game. Alternatively, you could watch your reward point balance grow as you make purchases on your card each month, so that within a few months you have enough points to buy a big ticket item, such as a digital radio or gaming console.
