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Best credit cards for Christmas: Rack up points, cashback or spread your costs - but use them wisely

Best credit cards for Christmas: Rack up points, cashback or spread your costs

Credit cards are divisive but can be useful, helping you make the most of your money when used well. With the festive season arriving, we reveal how to get more from your spending - analysing options for cashback, points and rewards, and 0% borrowing.

EXCLUSIVECredit card firms hike interest on balance transfer deals - and interest-free periods are shrinking

These deals are often used by customers to minimise the cost of their debt, but households will now find the deals on offer have worsened.

Buy now, pay later finally set for consumer protections... but not until summer 2026

The new rules will also mean that BNPL users can make complaints to the Financial Ombudsman Service if something goes wrong with their BNPL loan.

Amex launches bumper 30,000 bonus point Gold credit card offer - just in time for Christmas!

Amex launches bumper 30,000 bonus point Gold credit card offer

American Express has boosted its points offer in the run-up to Christmas in its biggest ever up-front points offer. Customers can now get 30,000 if spending £3,000 within the first three months of having the card rather than the usual 20,000.

Amex launches boosted credit card cashback deal of £125 for new customers - is it any good?

New Amex Cashback Everyday Credit Card customers can now get 5 per cent cashback up to £125 on all spending.

Barclays launches new credit card with Amazon offering up to 2% rewards cashback - is it worth having?

Barclaycard and Amazon have partnered to bring a new credit card. Users can earn cashback rewards which can be redeemed as Amazon vouchers

NatWest launches new credit card with 1% cashback on spending abroad: How does it stack up?

NatWest's new credit card has 1% cashback on spending abroad - is it worth taking?

NatWest and Visa have launched a new credit card aimed at jet-setters. The NatWest Travel Reward Credit Card is aimed at customers who travel abroad frequently, and will offer rewards on purchases made with the card outside of the UK.

'I'll spend the rest of my life living in fear': I was sectioned and my son still has therapy after I borrowed £1,000 from a loan shark

I borrowed from a loan shark: I'll live the rest of my life in fear

Vulnerable people across the UK are falling into debt with loan sharks every year, with recent data showing as many as three million have used illegal lenders in the past year alone. Katie* tells us how she borrowed from a loan shark when she lost her job just before Christmas - and the effect it has had on her and her son's life.

I borrowed £3,000 from a loan shark and will end paying back £8,400 - if I miss a payment, I've been warned it 'won't be pretty...'

Susan borrowed £3,000 in October last year, from 'a friend of a friend'. At the time, she didn't realise that she would be paying back more than what she borrowed.

CRANE ON THE CASE: Loan firm Moneybarn tried to take my car in four-hour ordeal - but I don't think I'm behind on payments...

I was told it wouldn't investigate further unless I made an £800 payment off my balance, and I've resorted to hiding the car to prevent it being seized. Can you help?

Angry Barclaycard Platinum customers see 'low rate' card's interest rate almost DOUBLE

Angry Barclaycard Platinum customers see 'low rate' card's interest rate almost DOUBLE

An email from Barclays seen by This is Money, shows that one customer will see his interest rate rise to 23 per cent compound in July, from its current rate of 13.1 per cent. The reader told This is Money that he opened his account on a 'lifetime' rate of around 8 per cent in 2016, which was then increased to its current rate 'over the last two years'.

This American Express Platinum card has an APR of 704.6%, the highest interest rate on record - here's why

The American Express Platinum Card has the highest APR ever - but there is a good reason for the eyebrow-raising rate.

Nearly half of young people don't realise buy now, pay later can get them in debt, study warns

Nearly half of people aged between 18 and 34 also don't know that buy now, pay later lenders can add fees for missed payments, research claims.

New service to help people improve their credit score by doing everyday spending on a new debit card

Trouble-free ways you can improve your credit score

BuildMyCreditScore issues users with a debit card that is connected to their existing current account. They can then use it to buy train tickets, groceries and other items as usual. The firm presents these purchases to the big credit reference agencies as if they were direct debit payments. Agencies like to see these as they suggest you can manage your spending and keep to a payment agreement. More than five million people in the UK have a poor credit rating, making it hard to obtain mortgages, credit cards and even mobile phone contracts.

Are you owed money? 350,000 PPI victims fight for another £1bn payout over commission on dodgy insurance

Law firm Harcus Parker claims six million people who were mis-sold PPI could still be owed £2,500 each after banks pocketed commission payments.

Poor credit rating can cost you as much as £270,000 over your lifetime

A 20-year-old with a poor rating could rack up £551,787 in interest by the time they are 68 if their score does not improve, according to Credit Karma.

Credit card crunch! Banks shave 11 months off the time customers have to pay off 0% balance transfers - with best deals likely to 'deteriorate further'

The best 0% balance transfer credit cards have been downgraded by banks

Banks are continuing to rein in the terms on their 0 per cent balance transfer credit cards, cutting interest-free periods and hiking fees. The average 0 per cent balance transfer period on credit cards has fallen from 21 months in October last year to 17 months, according to analysis by the consumer group and ratings provider, Fairer Finance. In the last year, Sainsbury's, MBNA, NatWest, RBS, Halifax and Tesco have all reduced their longest offers.

CRANE ON THE CASE: Why has my PPI tax rebate taken 15 months... and counting? I'm paying the agent Brooksdale 48% commission!

I was told the process would take 12 weeks, but it's now been 15 months - and I'm having to do some of the work chasing up HMRC myself.

As Bank of England reports new record high interest on credit cards, one expert warns of 'sudden and out-of-the-blue reductions' on limits

The effective interest rate on credit cards jumped by 34 basis points to a new record high of 20.76% in July, new data from the Bank of England shows.

Why the university class of 2023 could pay back TWICE as much as previous years: Plan 5 student loan explained

Plan 5 student loan explained: What's changed for students in 2023 intake?

Students starting their undergraduate degrees this September are likely to pay back twice as much in student loans over their lifetimes as those who went to university in previous years. Under the new 'Plan 5', which applies to those starting their degrees from August 2023, graduates will start paying back their loans when they earn £25,000 per year. Here's what you need to know.

Ticking time bomb of buy now pay later: Bank of England says 3.1M households owe £2.7BN in 'shadow credit' boom

More than 3m UK households owe £2.7billion on BNPL borrowing, according to a new analysis by economists at the Bank of England.

Households falling into debt, as outstanding credit card balances soar by 9.5% in a year

Official figures from banking group UK Finance show that uncleared credit card balances rose by more than £4.1bn in the year to April.

Sharp rise in parents taking out LOANS to pay children's private school fees, as typical cost per year for a non-boarder hits almost £25,000

The trend reflects the soaring cost of private education, as well as the cost of living crisis putting pressure on household finances.

Credit card interest rates hit a 28-year high: How to make sure you get a good deal as the average rate tops 23%

Credit card rates are rising and have not been higher since 1995, according to analysis of Bank of England figures.

Will Section 75 be watered down? Plans to overhaul rules protecting purchases made on credit cards in biggest shake-up for 50 years

Section 75 credit card protection could be 'watered down'

A Government shake-up of financial regulations could see the Section 75 rules which protect customers when spending on their credit cards 'watered down'. A Treasury consultation document today confirmed Government plans to overhaul the Consumer Credit Act 1974. This is the law which regulates £200billion in debts every year, including credit cards, store cards, personal loans, payday loans and hire purchase deals. The exact changes are still being hammered out, but could impact consumers if vital refund protections end up being changed or abandoned.

RACHEL RICKARD STRAUS: A film about a payday lender? I Wonga what you were thinking

In charge: Filmmaker Gary Tarn said he was given full editorial control

Wonga has commissioned a 30-minute film, which it says will challenge public perceptions about the lender and its customers. We went along.

Amex ups sign-up bonus on its popular Gold card to 25,000 points: Here's what you have to do to get them

American Express has increased the sign-up bonus on its Preferred Rewards Gold credit card from 20,000 to 25,000 points.

Banks rein in balance transfer credit card terms, cutting interest-free periods and hiking fees on 0% deals as concerns rise over bad debts

Banks cut terms and raise fees on balance transfer credit cards

Banks are reining in the terms on their 0% balance transfer credit cards, cutting interest-free periods and hiking fees. Last week, Halifax cut its longest balance transfer term from 29 months to 25 months, Tesco Bank reduced its deal from 30 to 27 months and Virgin Money reduced the term on its longest deal from 31 to 29 months - and the average balance transfer fee has also been rising, according to Moneyfacts data.

Britons return from overseas holidays with over half a BILLION pounds left on pre-paid travel cards: Here are some better options for spending abroad

Fee-free spending abroad: These are the best options

With sneaky exchange fees and charges for dormant accounts, pre-paid cards often aren't the best way to spend abroad. Britons also left an average of £78 on the cards when they returned from their trips in the last year. We look at some more cost-effective options, from fee-free debit and credit cards to cash.

One week left to bag 'ludicrously generous' Barclaycard Avios Plus credit card bonus as it battles American Express

Britons have just one week to sign-up to the Barclaycard Avios Plus Mastercard and bag themseves a sign-up bonus of 50,000 Avios points.

Amex relaunches bumper sign-up bonus on Platinum credit card with 60,000 points and £200 travel credit: Is it worth the hefty annual fee?

The points on offer are double the usual 30,000 - but do the benefits make it worth shelling out for the £575 annual fee?

How 'Secret Millionaire' Amigo loan shark funded his jet-set luxury lifestyle after leaving thousands of borrowers broke by making them use friends and family as guarantors for loans with 49.9% interest rates

The Jet-set lifestyle of shamed Amigo Loans tycoon and Secret Millionaire James Benamor

Over the course of 15 years until the start of the pandemic, Amigo offered loans of up to £10,000 at a hefty 49.9% annual rate of interest to hundreds of thousands of people whose credit score was in tatters. The one condition? That they could bring someone to the table - a friend, father, mother, husband, wife, brother or sister - who would promise to pay the loan if the borrower defaulted. Over the course of 15 years until the start of the pandemic, Amigo offered loans of up to £10,000 at a hefty 49.9% annual rate of interest. Its founder, 45-year-old James Benamor, is now a billionaire.

New debit card lets relatives track dementia sufferers' spending without needing power of attorney

The card, a partnership with Mastercard and the Alzheimer's Society, is likely to appeal when someone has early stage dementia.

HSBC takes on rival upstarts with new Global Money Account offering fee-free debit card spending abroad

The HSBC Global Money Account, plugged in a new advert by actor Richard Ayoade, is a 'no brainer' for existing customers, says one industry expert.

Is this the best Amex and Avios deal ever? British Airways launches new credit card that gives you eight free flights... just for signing up!

Credit card that gives you eight free BA flights just for signing up!

New customers who take out the BA American Express Premium Plus card via the British Airways website receive a huge 70,000 Avios points. The points are worth up to eight economy flights, or can be converted into £467 in Nectar points. Avios is the benefit currency of the British Airways Executive Club.

Debt-fuelled Britain: Almost a quarter of people have borrowed to buy food or pay a bill in last three months as average credit balance hits £900

Increasing numbers of Britons are relying on unsecured borrowing in a bid to keep themselves afloat amid rising living costs, according to the Money and Pensions Service.

What the 0.5% interest rate hike means for your mortgage and savings: Bank of England ups base rate to 4% - the highest it's been in over 14 years

It is the Bank of England's tenth consecutive base rate hike in 13 months.We explain why the Bank is raising interest rates and what it means for you.

Get debt-free in 2023: Five steps to pay off what you owe including credit cards, mortgage and energy bills

Pay off debt in 2023: Five steps to clear it including credit cards, mortgage and energy

Rising costs mean the average UK adult is now in debt by almost £35,000. Brits are paying higher-than-average rates for almost everything, from mortgages and rent to food and energy bills. Here is some expert advice on how to get out of arrears in the new year.

Nearly two million households missed mortgage, credit card and energy bill repayments this month and now 'face financial crisis' in the New Year

The most common missed bill repayment was energy, with 2.3% of households defaulting in December.

A tale of two cost of living crises: Low earners buy less while high earners keep spending but save less - and one in 20 borrow to maintain lifestyles

The Bank of England found that around half of the richest two-fifths have continued to buy the things they've always bought - or more - despite these having gone up in price.

Credit card rates hit a 24 YEAR high: Here's how to reduce what you pay with zero interest deals and balance transfer - and pitfalls to watch out for

Credit card interest: How to cut what you pay and find a better deal

The average credit card interest rate is now 22.03% - the highest since 1998. On the typical card, someone borrowing £500 would now end up paying £110.15 in interest. However, borrowers could potentially bring this down to zero with the right card. We explain why rates are rising, how 0% interest cards and balance transfer work, and how to get a better deal.

Warning to borrowers as the average credit card interest rate reaches a 16-year high of 30.3%

This month, the average purchase interest rate on a credit card reached 30.3 per cent, the highest level since the analyst's records began in June 2006.

More people dip into overdrafts as they struggle with rising costs, while others rely on buy now, pay later

Overdraft usage has increased by 7.1% since August 2021 as inflation bites, according to an analysis of 20,000 UK bank accounts.

The John Lewis credit card backlash! Tens of thousands of loyal shoppers at the store and Waitrose have been turned down for a new reward card

Now tens of thousands are turned down for a John Lewis credit card

John Lewis says 4% of cardholders had been turned down for a new credit card after it after it switched providers from HSBC to NewDay. This could amount to roughly 25,000 failed applications, although the retailer refused to confirm that number due to commercial sensitivity.

LEE BOYCE: Why wouldn't John Lewis want loyal, reliable customers using its credit cards?

Dozens upon dozens of you have written to us aghast at having to reapply for a card you've used for years, only to be told 'Computer says no'.

Investigation raises concerns about the 'worrying' £40bn-a-year in debt locked up in car finance as the cost-of-living squeeze intensifies

Borrowing on vehicles has risen by 253% in a little over a decade, up from £11.2billion in 2009 to nearly £39.6billion at the end of June 2022, according to a new report.

American Express revamps its gold card perks: Joiners can grab £500 of value in year one without paying its annual charge - if you play by the rules

American Express revamps its Gold card perks

American Express has revamped its Preferred Rewards Gold Card, with a huge sign up offer aimed at attracting new customers. Up until 8 November, new joiners can earn up to 30,000 Membership Rewards Points when they sign up and spend £3,000 in the first three months. The sign up offer represents a 50% increase on the usual 20,000 points.

Seven credit cards that really do pay YOU to shop: Reward schemes can make sense... but watch out for the pitfalls

For shoppers seeking ways to make their cash stretch further, a reward credit card has always been touted as a quick win.

Banks are turning me down to expand my successful furniture business, how can I get them to see sense? BANK ON DAVE replies

It seems that the money men are so nervous of the economic outlook they are blinded and it will be become a self-fulfilling prophecy if everyone stops lending.

The best credit cards rated: Our pick of the top deals for cashback, rewards, clearing debt, airline points and travelling abroad

Best credit cards rated: Top for cashback, rewards and clearing debt

The best credit cards can help you boost your credit score, clear your debts faster, spread the cost of an expensive purchase and even earn a tidy sum in airline points or cashback. Pick the wrong one, however, or fail to manage it correctly and you can be left with a hefty bill, and a credit rating in tatters. This is Money has scoured the market and picked out the best credit card deals to help you make the most of your money - whatever you plan to pay for on plastic.

Demand for Iceland supermarket microloans to help customers get interest-free credit of up to £75 is so popular it slows lender's website

Shoppers can apply for microloans to be paid off in £10 weekly installments, interest free - demand has been so high, Fair for You has struggled under the volume.

Can I get a student loan if I go through clearing, and will it arrive in time? As youngsters get their A-Level results, we explain how to sort their finances

Nearly 50,000 students will apply through clearing this year. It's still possible to get a tuition fee and maintenance loan in time for the new term - but they will need to act fast.

Many longstanding credit card customers of John Lewis indignant after being told their credit limit will be slashed by up to 96%

'Why have you slashed our card limit?' rage John Lewis customers

A number of cardholders have aired their grievances on review website Trustpilot and Twitter. In some instances, cardholders have been told they will no longer be able to use their card after the end of October. The backlash comes a fortnight after John Lewis confirmed it had appointed finance company NewDay to replace HSBC to manage its card. NewDay has five million customers and is the provider behind Amazon's credit cards. John Lewis cardholders have been told they can keep using their old cards - which earn them rewards to spend in the department store and Waitrose - until 6pm on October 31. To remain a customer after this date, cardholders must reapply and be approved.

American Express offers biggest EVER sign-up bonus on new Platinum credit card, including 60,000 points and £200 travel credit: Is it a deal worth taking?

Points expert says the Platinum card is a 'coupon book for middle-class people' - but it does come with a hefty annual fee.

Virgin Money grabs Slyce of the buy now, pay later market: New card aimed at Generation Z splits payments over up to 6 months interest-free

As a new card launches, experts have questioned whether encouraging young people to spend more during a cost of living crisis is responsible.

The best credit cards for cashback: We rank our six favourite deals that'll give you a small return every time you spend

The best credit cards for cashback

Cashback credit cards are a great way to get a small return every time you spend. They essentially pay a percentage back on each transaction. Whereas some credit cards reward spending with points that can be redeemed for flights, hotels and all manner of exclusive offers, cashback cards may be more appealing to some shoppers because their function and purpose is simple. Cashback credit cards typically pay between 0.25% and 1.25% on each purchase, depending on what card you go for and how much you spend. We scoured the market for the best money-back options.

Would you implant a tiny debit card chip in your hand? Forget fingerprint or facial recognition... 'biometric' payment is being touted as the future

London-based Walletmor claims to be the first company in the world to sell contactless bank-card chips that can be implanted into humans.

The top supermarket loyalty cards to save money on your food shop: From Clubcard to Nectar, these are the best schemes for points and discounts

Supermarket shopping is getting more expensive, but shoppers can save by signing up to a reward scheme. We look at what's on offer at the big grocers.

Britons turning to credit cards and loans to cope with cost of living crisis are hit with higher interest as rates approach a 20-year high

Cost of credit card borrowing close to 20-year high

Britons turning to credit cards and loans to cope with the cost of living crisis are being hit by higher interest rates, the latest Bank of England figures show. The latest Bank of England household interest rate figures showed that the cost of borrowing on credit cards and loans continued to rise in June. Average credit card rates jumped to 21.43%, representing an 0.87 percentage point rise on a year ago when the average credit card rate was 20.56%. According to analysis by Freedom Finance, this is approaching levels not seen since 1998 - the last time that average rates surpassed 21.5%. We explain how households can manage and consolidate their credit card and personal loan debt.

Personal loan rates rise to a six year high but the best deals still come in sub-3%: Is this the last chance to grab a rock-bottom deal?

People hoping to take out £7,500 personal loan are typically facing the highest interest seen in six years. However, deals of 2.8% still exist... for now.

Best balance transfer credit cards to help clear debts: Competition heats up meaning the longest 0% deals run for almost 3 years

As Britain becomes further entangled in the cost of living crisis and braces for even higher inflation, those with credit card debts could be feeling the strain.

How to save money on spending abroad: From the best debit cards and credit cards, to cash... how to get more bang for your buck

Spending abroad: Best debit cards, credit cards and foreign exchange

Many Britons may be hoping to put the last two years of lockdowns and travel restrictions behind them by heading abroad this summer - even if that means braving airport queues and potential flight cancellations. However, with the cost of living crisis raging on many may also be looking to cut unnecessary costs where possible. Finding the cheapest deals for flights and accommodation are the most obvious ways to do just that.

Can't get a student loan or put off by rising interest? From fundraising to scholarships, these are the alternative ways to pay university tuition fees

Those starting in September will be paying an initial 7.3% interest on their loans - so some may be looking for alternative funding options.

The loan sharks charging 100,000% interest: Police hunt down violent and illegal lenders exploiting the cost-of-living crisis

FIONA PARKER witnesses a raid in Lancashire carried out by the Illegal Money Lending Team, a branch of trading standards tasked with tracking down loan sharks.

38 shares We join the police to hunt the loan sharks charging 100,000% interest

Credit card interest rates soar to a 24-year high as people turn to plastic to help spread rising costs

Credit card interest rates soar to a 24-year high

The latest Bank of England data shows quoted interest rates on credit cards reached an average of 21.66% last month, up 0.23 percentage points since June. This is the highest rate since December 1998, when the average rate was 22.19 per cent. Personal loans are also more expensive. The average quoted interest rate for a £10,000 loan grew to a six-year high of 4.18 per cent in July.

Virgin launches monthly draw for current account customers with a 1m reward points top prize which can be spent on flights... or 5k sausage rolls

Virgin Money has launched a new prize draw offering its current account customers the chance to win one million points to spend with rewards club Virgin Red.

Klarna purchases will show up on customers' credit reports from today: What does this mean and could it negatively impact your credit score?

Buy now, pay later giant will report purchases paid on time, late payments and unpaid purchases to Experian and TransUnion.

Credit card borrowing soared to 16-year high in April and mortgage borrowing dropped by a third, amid spiralling cost-of-living crisis

Credit card borrowing hit 16-year high in April, BofE data shows

Household credit card borrowing rose to its highest level in more than 16 years in April, suggesting more Britons are turning to debt as the cost-of-living crisis bites.Britons borrowed a total of £1.4billion on credit cards, overdrafts, personal loans and car finance in April, marking the third consecutive month where borrowing has been higher than £1billion, fresh Bank of England data shows. Of the total borrowing, £700million was taken out on credit cards. This represented an annual rise of 11.6 per cent - the highest level since November 2005. In contrast net mortgage borrowing fell 36 per cent, from £6.4billion in March to £4.1billion in April, suggesting the British property market may be cooling.

Energy customers and borrowers hounded by heavy handed debt collection firms for bills they don't owe

Citizens Advice warns that the number of people being contacted by debt collection agencies on behalf of energy suppliers has increased by a third.

Millions more Britons now locked out of accessing credit from mainstream lenders as 'financial exclusion' rises

Access to affordable credit can be important for people's financial stability but one in five say they feel locked out of the financial system.

Why did Experian send 24 emails and offer me 39 separate credit cards when we're in the middle of the cost of living crunch?

Why did Experian send 24 emails and offer me 39 separate credit cards?

For the past two months Experian has flooded my inbox with no fewer than 24 tempting credit card and personal loan deals. Four arrived in one week alone. With households facing a cost-of-living crunch, experts warn that this excessive marketing is completely irresponsible. Official figures show that borrowers spent £2bn on credit cards alone in the first three months of the year.

Visa and Mastercard face watchdog review into card fees as retailers face FIVE-FOLD increase in charges for online payments from EU after Brexit

The UK's Payment Systems Regulator found that Visa and Mastercard have increased so-called 'cross-border interchange' fees five-fold since Brexit.

Avios, Amex or Virgin: What's the best reward scheme to start with and are there any juicy sign-up bonuses on offer?

Britons are being squeezed by the cost of living crisis and many will be looking for smart ways to make their money go further.

Buy now, pay later has overtaken 'traditional debts' such as mortgages or car loans... but 1 in 7 think it is 'impossible' to be in the red

Among under-35s, as many as one in four believe they can't get into debt using buy now, pay later when shopping online.

'It was either BNPL or starve': Citizens' Advice warns of Buy Now, Pay Later debt trap as one in twelve now use short-term credit to cover groceries

The charity found that young adults, those in debt and those on Universal Credit were twice as likely to use BNPL for essentials than the general public.

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