The best purchase credit cards on the market

There are some purchases and some situations that call for the use of a purchase credit card. In this guide we look at what a purchase credit card is, what the benefits of using one is and which ones are the best on the market.

What are purchase credit cards?

Purchase credit cards are specifically designed to be used for large purchases; their rates are suitable for those that wish to make a purchase now, and pay nothing for at least 6 months. This is perfect for those that need to manage their money and do not have relatively large amounts of free cash for essential purchases.

You can get 0% interest rate on purchase for up to 26 months but if you don't make payments on time, you may get in debt for a long time. Always make sure that you always pay the minimum amount needed per month. If you can, pay more so that you pay less interest over time. 

The benefits of purchase credit cards

In short, the main benefit of purchase credit cards are that a person can make certain purchases they would otherwise be unable to make.

The best purchase credit cards on the market

The following cards are the best purchase credit cards on the market to date:

Santander

The Santander purchase credit card is perfect for those that need to manage money online and via mobile apps; Santander provide significant protection against fraud however you should be aware that existingSantander customers are not allowed to transfer their balance from one Santander credit card to another.

Balance transfers are charged at 0% for the first nine months, thereafter the charge is 3.9%, APR representative is 18.9%.

Halifax purchase credit card

Purchases are charged at 0% for the first 17 months, thereafter they are charged at the usual rate, which is 16.9% representative APR. Balance transfers benefit from 0% interest rate for 6 months, however there is a 3% charge for this privilege.

The Halifax purchase credit card is also great for those that wish to have the ultimate access to account information via online and mobile banking; however it must be noted that the APR is dependent upon the result of a credit check. Again, existing customers are unable to transfer balances from one Halifax card to another.

Tesco Bank - Clubcard Credit Card for purchases

Purchases are charged at 0% for 16 months; balance transfers benefit from a 0% interest for the first 6 months, with a 2.9% fee. The representative APR is 18.9%.

With this purchase credit card you can expect to benefit from the added extra of gaining Clubcard points for every purchase you make that is over £4. Again the APR is subject to status so may change from the rate stated above.

Purchase credit cards can offer the utmost convenience to people from all walks of life; due to the 0% interest rate for a set time, they allow people to make large purchases and spread the cost over a set period.

You may want to read about: Adverse Credit Cards