The British credit card market is a highly competitive place these days and one way credit card companies are attempting to pull in new business it through the use credit card UK deals. These credit card UK deals are designed to appeal directly to British consumers.
Most credit card UK deals apply specifically to the interest rate on new purchases. Offers like a temporary zero APR rate only applies for a limited period of time in most cases, as it is simply an introductory offer to lure in new customers. The amount of time the credit card UK deals remain in effect can vary from one offer to another. Some credit card companies will offer the no interest opportunity for three months; others will offer it for six or longer. Since the economic downturn of 2008 and the drastic cutback in the use of credit cards (and credit card applicants), some companies have extended these offers for longer periods of time. Some now offer no interest for as long as 12 or 18 months in efforts to bring in new users.
Some credit card companies are offering credit card UK deals to existing customers as well. If the consumer purchases an item over a certain value with the credit card, the interest on that purchase can be waived for a year or 18 months, depending on the offer. Many of the credit cards offering this are affiliated with large retail companies.
Some these credit card UK deals are extended to balance transfers, which can allow a consumer to move high-interest credit card debt from one card to the other and save a substantial amount of money in the process.
British law limits the amount and type of credit card UK deals that can be made to the customers of the United Kingdom. Credit card UK deals like travel rewards are acceptable, but since the government frequently puts limits on what credit card companies can charge their customers, low APR offers are not as common as they are in the United States.