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It's not always easy to get the uk credit card that is best suited to your personal circumstances. Some products that are available are not as good value as they may seem.

It is just as important to shop around and compare credit cards as it is for any other purchase.

Most people will use credit to purchase goods or services at some time in there life. You could obtain a personal loan through a bank or building society, hire purchase, or a credit agreement with a trader. However, before buying on credit it is always worth considering the following. Work out what the total cost of your loan will be. Always shop around for credit. How much will your loan cost to repay each month and how long will it take to repay ? It is also worth checking the annual percentage rate of charge (normally referred to as APR). In general terms, the lower the APR the better the deal is.

Some companies offer interest free credit (0%APR) but if you take up one of these introductory offers make sure you are not paying higher amounts in other ways. One example of this would be a higher cash price than you would pay for the same goods or services elsewhere without the 0% apr offer. Make sure you read and understand your credit agreement before signing. If there is anything you do not understand make sure you ask before signing anything.

It is also important to make sure you can afford to pay back the loan and the interest and still have enough to cover all your other commitments and outgoings. Check whether the loan agreement you are taking out has a variable rate of interest. If it has, your repayments can go up as well as down. Make sure you can afford your loan if interest rates suddenly go up. Before taking out a loan make sure you know what you are agreeing to. Some loans are only given if they are secured on your home.

These are not available if you rent. A secured loan gives security to the lender but not to you. If you cannot keep up with the repayments the lender can sell your home to cover any losses. You might get a lower rate of interest with a secured loan but you could have a lot at stake. If you do get into debt, there is no easy way out of it but the sooner you face up to the problem, the easier it will be to solve.

(Source : http://www.oft.gov.uk)

Buying on uk credit cards