Ocean’s credit card jargon-buster

There’s so much to consider when taking out a credit card, from what you can afford and what type of card is best for your needs to how to go about applying. However, the sheer amount of technical terminology you might have come across when researching credit cards may be holding you up or even putting you off.

Luckily, we’re here to help. Read our simple credit card jargon-buster and the subject should hopefully become a lot clearer.

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Know if you're accepted before you apply with QuickCheck

  • Get credit - up to £1,500
  • QuickCheck won’t affect your credit rating
  • Get a fast response in 60 seconds
Check Now 34.9% APR Representative (variable)
Intelligent Lending Ltd (Credit Broker). Capital One is the exclusive lender

0% interest

Some credit cards have an introductory 0% interest rate, like some balance transfer cards, these come with a 0% interest rate on the balance transferred to the card or a 0% purchase card which gives you a 0% interest rate on purchases for a set period of time.

These rates don’t usually last forever, so to get the most from your card make sure you clear your balance while the interest is set at zero and then consider closing it and switching to a new card once the interest rises. Remember, while you don’t pay interest for the period of the offer, you still need to repay at least the minimum payment each month – preferably more.

If you don’t or are late with your payment you may find your provider will start charging you interest, or you may have to pay a penalty charge. Your credit rating could also be affected.

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Know if you're accepted before you apply with QuickCheck

  • Get credit - up to £1,500
  • QuickCheck won’t affect your credit rating
  • Get a fast response in 60 seconds
Check Now 34.9% APR Representative (variable)
Intelligent Lending Ltd (Credit Broker). Capital One is the exclusive lender
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jargon-buster