Best credit cards in the UK - June 2023 - Money To The Masses (2023)

Best credit cards in the UK - June 2023 - Money To The Masses (1)When choosing the best credit card from the wide array available, it is first useful to consider what a credit card is and how credit cards work.

What is a credit card?

In essence, credit cards provide a tool to help people manage their finances by borrowing money up to a set credit limit that is then paid back in full or spread over monthly instalments. The amount that needs to be paid back will be determined by the interest rate as well as any special offers, which often include interest-free periods when you first take out the card.

Credit cards fall into a number of different categories, including balance and money transfer options that allow you to manage existing debts or short-term cash-flow issues. There are also cards designed for those purchasing big-ticket items that offer low rate or 0% interest periods, as well as those that provide cashback, rewards and other perks. Finally, some cards are designed specifically for business users, travellers or those looking to build their credit rating.

Here we help you navigate the UK market to help you find the best credit cards for you. These specific cards have been chosen by considering factors including the interest rate, annual fees, introductory offers, interest-free periods, rewards and cashback.

Find out which credit card is best for you

Money to the Masses has teamed up with Go.Compareto help find the best credit card for you. By entering a few simple details, you'll be provided with a tailored list of the best credit cards based on your individual circumstances. You can select the feature that interests you most meaning you can sort the results by card type, total fees and even by cashback offered. To make things even easier, the credit cards that have been pre-approved will be highlighted, meaning you can be confident that you'll be accepted should you apply. Your details will be used for a soft credit search meaning your credit score will not be impacted. Click on this link to get started.

Best 0% purchase credit card

Natwest Purchase and Balance Transfer credit card

  • Best for: Spreading the cost of large purchases
  • Representative APR: 23.9% variable
  • Interest-free period: 0% interest on purchases and balance transfers for 23 months (Balance transfers are subject to 2.99% fee)
  • Annual fee: £0
  • Why we like it: All that are accepted will get the full 23 months

For other best-buy 0% purchase options, see our article "Compare the best 0% purchase credit cards"

Best 0% balance transfer credit card

Virgin Balance Transfer card

  • Best for: Transferring existing credit or store card debt
  • Representative APR: 23.9% variable
  • Interest-free period: Up to 31 months
  • Transfer fee: 3.50%
  • Why we like it:This card offers a decent interest-free period of 31 months, however, it has a relatively high transfer fee of 3.50%.

For other balance transfer options, see our article 'Best 0% balance transfer credit cards'

Best money-transfer credit card

Best credit cards in the UK - June 2023 - Money To The Masses (4) MBNA Money Transfer Credit Card

  • Best for: Paying off more expensive debts
  • Representative APR: 22.9%, based on the individual circumstances of the applicant
  • Interest-free period: Up to 14 months, depending on individual circumstance
  • Transfer fee: 3.49%
  • Key information: 0% only applies to money transfers made in the first 60 days of the account opening
  • Why we like it: It offers the longest interest-free period (although you could be offered a shorter duration) and has a reasonable transfer fee

For more details on money transfer cards, read our article 'A complete guide to the best money transfer credit cards'

Best credit-building credit card

Best credit cards in the UK - June 2023 - Money To The Masses (5)Tesco Bank Foundation Credit Card

  • Best for: People with poor or no credit
  • Representative APR: 29.9% variable
  • Starting credit limit: £250 to £1,500, monthly repayments from £25
  • Eligibility: CCJs are considered if more than 18 months old
  • Perks: Collect Tesco Clubcard points, track spending through the mobile app, 3 years of free access to your credit report and score
  • Why we like it: Although it is slightly more stringent on who it will accept, Tesco offers one of the lowest APRs and also offers the added bonus of Tesco Clubcard points and access to your credit report and score

Read about the best options for those with bad credit in our article 'Compare the best credit cards if you have bad credit'

Best cashback and reward credit card

Best credit cards in the UK - June 2023 - Money To The Masses (6) American Express Platinum Cashback Everyday Credit Card

  • Best for: Fee-free cashback and perks
  • Interest rate: 29.7% APR variable
  • Cashback: 5% cashback on purchases (up to £100) for the first three months, falling to 0.5% on spending up to £10,000 and 1% on everything over £10,000 after the introductory period. Minimum annual spend of £3,000 to qualify for cashback. Cashback credited to card balance after 12 months
  • Rewards: Offers and discounts with selected travel and retail partners, as well as pre-release tickets to music, cinema and theatre through American Express Experiences
  • Interest-free period: Maximum 56 days on purchases if you pay in full each month (29.7% APR variable on purchases)
  • Annual fee: £0
  • Why we like it: American Express is known for its market-beating rewards schemes and this card does not disappoint, combining attractive cashback and rewards without the high annual fees attached to some of its other cards

Read about the best cashback and reward credit card options in our article "Compare the best cashback and reward credit cards"

Best travel credit card

Best credit cards in the UK - June 2023 - Money To The Masses (7)Barclaycard Rewards Credit Card

  • Best for: Earning as you spend abroad and in the UK
  • Foreign transaction fee: 0%
  • Cash withdrawal fee: 0%
  • Representative APR: 25.9% variable
  • Perks: Earn 0.25% cashback on everyday spending (excluding balance transfers, money transfers, cash withdrawals, buying currency or travellers’ cheques or gaming-related purchases). Save money on live events with Barclaycard Entertainment and get up to 5 months of free Apple subscriptions when you take out a new card (subscriptions include Apple TV+, Apple Music, Apple Fitness+, Apple News+ and Apple Arcade)
  • Why we like it: For those able to pay off the balance in full each month, this card allows you to earn cashback and enjoy rewards while also not charging foreign transaction or cash withdrawal fees

For a comprehensive review of travel credit cards, see our article "Compare the best travel credit cards"

Best low-rate credit card

Best credit cards in the UK - June 2023 - Money To The Masses (8)Lloyds Bank Premium Low Rate

  • Best for: Minimising charges if you can’t pay off the full balance each month
  • Representative APR: 10.94% variable
  • Balance transfers: 10.94% variable
  • Purchases: 10.94% variable
  • Annual fees: £0
  • Why we like it: For those who choose not to switch between interest-free introductory offers, Lloyds Bank provides a consistently low APR for a long period, which allows you to budget more easily

Best business credit card

Best credit cards in the UK - June 2023 - Money To The Masses (9)Barclaycard Select Cashback Credit Card

  • Best for: Businesses looking to earn rewards and who have a turnover of at least £10,000 per year
  • Representative APR: 26.2% variable
  • Annual fee: £0
  • Credit facility: Subject to application, financial circumstances and borrowing history (minimum of £1,000)
  • Perks: Uncapped 1% cashback on eligible business spending, free access to accounting software FreshBooks and up to £85 cashback can be earned within the first three statement months (minimum £5,000 spend applies and must apply by 22/06/23) Earn 10% cashback on all BT and EE spend (Offer ends 30/06/23)
  • Why we like it: In a crowded space, the Barclaycard Select Cashback credit card represents the middle ground between no-frills, fee-free options and the all-singing, all-dancing rewards cards with budget-busting annual fees

Find other best-buy business cards in our article "Compare the best and cheapest business credit cards"

Best student credit card

Best credit cards in the UK - June 2023 - Money To The Masses (10) HSBC Student Credit Card

  • Best for: Students looking to foster good credit habits
  • Representative APR: 18.9% variable
  • Credit limit: Up to £500 credit limit, subject to status
  • Perks: 0% interest if you pay the balance in full each month
  • Eligibility: Must be an existing HSBC student current account holder
  • Annual fee: £0
  • Why we like it: Offers a sensible credit limit and the incentive of being interest-free if you pay off the balance in full each month is a good first foray into credit cards for cautious young people

Best all-round credit card

Natwest Purchase and Balance Transfer credit card

  • Best for: Flexibility. Offers a decent 23 months for both purchases and balance transfers. Balance transfers must be made within the first 3 months.
  • Representative APR: 23.9% variable
  • Interest-free period: 0% interest on purchases and balance transfers for 23 months (Balance transfers are subject to 2.99% fee)
  • Annual fee: £0
  • Why we like it: This card offers excellent flexibility and a long interest-free period on both purchases and balance transfers. There is no monthly fee, however, those wishing to transfer a balance will be required to pay the 2.99% balance transfer fee

How to pick the best credit card

When looking at the options available, the first point to consider is: do you need a credit card? Can you afford to take on the debt and service the monthly repayments? Are there other financial products, such as personal loans, which may better suit your needs and cost you less? While credit cards have many benefits, they are not suitable for everyone and can lead to serious financial problems if misused or mismanaged.

Pros and cons of credit cards


  • By using a credit card for purchases between £100 and £30,000 you are protected under section 75 of the Consumer Credit Act if the goods or services are faulty, aren’t delivered as promised, aren’t as advertised or if the trader or retailer goes bust.
  • Sensible use of credit can help improve your credit score, which could help secure loans, mortgages or other borrowing in the future.
  • Credit cards can be used to reduce or pay off other debts, such as personal loans, store cards or payday loans. By making the most of interest-free periods, you can make a sizeable saving and potentially pay off debts sooner.
  • If you can pay off the card in full each month, you can benefit from great cashback and reward deals from many providers


  • Credit cards can be expensive, with interest rates and fees often making them more costly than other borrowing options
  • If you aren’t careful, it can be easy to get caught in a spiral of debt if you start to miss payments or borrow more than you can reasonably pay off. In the long term, this can affect your credit score and may impede future borrowing. If you find yourself in this situation, look at our article on

How to get accepted for a credit card

The process of applying for a credit card is relatively quick and straightforward, with many online applications letting you know immediately if you have been accepted. Typically you will have to provide your name and address, date of birth, nationality, employment status and salary or income. Some applications may require extra proof of identification, such as a copy of your passport, driving licence, bank statement or recent utility bill.

Things to consider before applying for a credit card

Before you submit the application, it pays to consider your eligibility and likelihood of being accepted as failed applications will appear on your credit record. A good place to start is checking your credit score through services such as Experian, Clearscore, MSM Credit Monitor*or Credit Karma*, which will give you a good indication of how likely you are to be successful.

In addition, many card providers also offer online eligibility checkers which can tell you how likely you are to be accepted without leaving a footprint on your credit record. The golden rule is: if you are turned down for a credit card, don’t apply for any more. Instead, consider asking the provider why you were rejected and see how you can improve your credit score. There is great advice on how to do this in our article "How to improve your credit score quickly".

If a link has an * beside it this means that it is an affiliated link. If you go via the link Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. But as you can clearly see this has in no way influenced this independent and balanced review of the product. The following link can be used if you do not wish to help Money to the Masses or take advantage of any exclusive offers - MSM Credit Monitor, Credit Karma


Best credit cards in the UK - June 2023 - Money To The Masses? ›

The minimum payment mindset

Here's how most people get trapped in credit card debt: You use your card for a purchase you can't afford or want to defer payment, and then you make only the minimum payment that month. Soon, you are in the habit of using your card to purchase things beyond your budget.

What is the best card to use in UK? ›

Top 10 UK credit cards of July 2023
  • Rewards - American Express Preferred Rewards Gold Card.
  • Rewards (non-Amex) - Sainsbury's Bank Nectar Reward Card.
  • Balance transfers - NatWest Longer Balance Transfer Card.
  • Balance transfers (no fee) - NatWest Balance Transfer Card.
  • 0% purchases - NatWest Purchase & Balance Transfer Card.

What is the most accepted credit card in England? ›

Which credit card issuers are accepted in the United Kingdom?
Merchant acceptanceATM acceptance
American ExpressMediumHigh
Sep 27, 2022

What are the most accepted cards in the UK? ›

Popular payment methods
  • Visa. Cards. Visa is one of world's largest global card networks.
  • Mastercard. Cards. Mastercard is a market leading card scheme worldwide.
  • PayPal. Digital wallets. ...
  • American Express (AMEX) Cards. ...
  • BACS Direct Debit. Direct debit. ...
  • Diners. Cards. ...
  • Discover. Cards.

What is the single biggest credit card trap for most people? ›

The minimum payment mindset

Here's how most people get trapped in credit card debt: You use your card for a purchase you can't afford or want to defer payment, and then you make only the minimum payment that month. Soon, you are in the habit of using your card to purchase things beyond your budget.

What credit card does Warren Buffett use? ›

So, it's no surprise that Warren Buffett has had the same credit card since 1964 — an American Express card. “I probably carry $400,” Buffett told Yahoo Financial a few years back. “My wife likes to use cash, so I just take home a chunk of cash every now and then and then she doles it out.”

What American credit cards are accepted in UK? ›

American credit cards work throughout Europe (at hotels, larger shops and restaurants, travel agencies, car-rental agencies, and so on); Visa and MasterCard are the most widely accepted. American Express is less common, and the Discover card is unknown in Europe.

What is a black card UK? ›

Black cards are marketed to those with high incomes, as they have high annual fees and luxury features. Typically, users of these cards pay off their balances every month. Minimum income requirements can often be extremely high, with some cards requiring you to earn more than £1 million per year to be eligible.

What is the hardest credit card to get UK? ›

The 5 most exclusive credit cards in the UK
  1. Coutt World Card (also known as the Queen's Card)
  2. Amex Centurion Card. ...
  3. Barclay's Infinite Card. ...
  4. NatWest Black Card. ...
  5. Harrods American Express Card. ...
Sep 30, 2014

Which UK bank card is best for abroad? ›

Starling Bank: Best All-Round

According to our analysis and experience, Starling's debit Mastercard is the best UK debit card to use abroad because it charges no fees for foreign currency spending. It also provides an excellent current account, ranked as the best online bank in the UK in our rankings.

What credit card is accepted all over the world? ›

Visa and Mastercard are the most widely accepted credit cards. Visa credit cards can be used at 44 million merchant locations in more than 200 countries and territories. Mastercard credit cards are accepted at 37 million merchant locations in more than 210 countries and territories.

What is the most Recognised credit card in the world? ›

What is the most prestigious credit card? One of the world's most prestigious credit cards is the Centurion® Card from American Express*. Though there may be other cards with more elaborate benefits, those cards are kept well under wraps.

What is the hardest card to get approved for? ›

Centurion® Card from American Express

Why it's one of the hardest credit cards to get: The hardest credit card to get is the American Express Centurion Card. Known simply as the “Black Card,” you need an invitation to get Amex Centurion.

Which UK cards are free to use abroad? ›

UK debit cards from banks with low or no foreign transaction fees
NameProductAccount fee
OFFER Revolut Standard Account Revolut Standard AccountOFFERFree
OFFER Chase Current Account - Current Account Chase Current Account - Current AccountOFFERFree
OFFER Current Account Current AccountOFFERFree
8 more rows
Jun 28, 2023

Do most millionaires use credit cards? ›

Credit cards play a major role in the financial lives of wealthy Americans. While they use credit cards for similar reasons as other Americans, they also rely on credit cards to manage their finances, earn rewards, and take advantage of exclusive benefits that come with high-end credit cards.

What bank do really rich people use? ›

Citi Private Bank is the private banking department of Citibank. Their services are reserved for worldly and wealthy individuals as well as their families. While eligible clients can get deposit accounts and retirement accounts as you'd find at any other bank, there are also many specialized products and services.

What bank does rich people use the most? ›

These 10 checking accounts are designed with the wealthy in mind and are intended for banking clients who desire convenient access to cash with premium benefits.
  • Morgan Stanley CashPlus. ...
  • TD Bank Private Banking. ...
  • Truist Wealth Checking. ...
  • PNC Private Bank Checking. ...
  • BNY Mellon Cash Management Access Account. ...
  • Chase Private Client.

What credit card do the Kardashians use? ›

Oprah Winfrey and Kim Kardashian: Black Amex

Winfrey and Kardashian do not openly state that they are the proud owners of the American Express Centurion Card. This card is not cheap. The card is issued by invitation only, and the entry fee is $ 7. The annual membership fee is $ 500.


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