Some credit cards charge 0 per cent on balances transferred over from another card. The special deal will last for a specified time such as 6 months or 12 months and you may be charged a fee of up to 2.75 per cent for the transfer.

These cards charges a higher rate for the life of a balance transferred onto the card. This can work out cheaper than a 0 per cent deal if you know you won’t be able to pay it off within the special deal period.

A higher level of income is usually needed to qualify for these cards compared with standard credit cards. These cards can offer additional benefits such as free travel insurance, free purchase protection, savings on travel and/or hotels and free extended warranty for additional year(s) on many household appliances. They may also offer higher credit limits and let you withdraw a higher amount of cash on a daily basis.

Cashback cards give you money when you spend on your card. For example, 2p for every £2 spent.

These are issued by credit card companies and operate as standard credit cards but a percentage of purchases made via card usage is donated to a charitable beneficiary by the issuer. A donation is also made to the beneficiary on issue or first use of the card.

Foreign usage loading on cards averages 2.75 per cent. That means if you spend £1,000 on your credit card on holiday you would be charged £27.50. If you withdraw cash abroad you will also be charged a cash withdrawal fee which averages 2 per cent. So if you withdrew £1,000 using your credit card abroad you would be charged 4.75 per cent - £47.50.

A higher level of income is usually needed to qualify for these cards compared with standard credit cards. These cards can offer additional benefits such as free travel insurance. They may also offer higher credit limits and let you withdraw a higher amount of cash on a daily basis. If you use your card abroad you will be charged foreign usage of 2.75 on average and cash withdrawal charges of 2 per cent on average. So if you withdrew £1,000 using your credit card abroad you would be charged 4.75 per cent - £47.50.

Credit cards may offer introductory rates that are lower than the standard interest rate for a specified term. This introductory rate is usually for purchases.

A higher level of income is usually needed to qualify for these cards compared with standard credit cards. These cards can offer additional benefits such as free travel insurance. They may also offer higher credit limits and let you withdraw a higher amount of cash on a daily basis. These cards may also offer introductory rates that are lower than the standard interest rate for a specified term. This introductory rate is usually for purchases.

Loyalty schemes are a way of gaining a benefit from using your card and can be used in varying ways. Some cards offer benefits such as free travel accident insurance, discounts on holidays, or free purchase protection insurance.

Most cards charge a standard rate. This is the rate the card you will be charged once any special deal period is over.

A higher level of income is usually needed to qualify for these cards compared with standard credit cards. These cards can offer additional benefits such as free travel insurance. They may also offer higher credit limits and let you withdraw a higher amount of cash on a daily basis. Most cards charge a standard rate. This is the rate the card you will be charged once any special deal period is over.

Store cards are a form of credit card but are issued by or for a particular retailer and can only be used in that retailer's store(s)/chain (unless it is endorsed by a credit card company). High interest rates are often charged on store cards and these should be considered only if you can pay off your balance in full each month.