Hey guys, it's sasha, if you're new to credit cards, it is very easy to get confused. There are so many different options out there. Will you get accepted for any of them if you've never had a credit card before or if you've had one a long time ago or if you've had some issues with credit in the past, you may find that mainstream credit card lenders will not accept you to Get one of the good cards that offer perks and low rates, and all of that you need a good credit history and in order to build a good credit history, you need to have a credit card, so you can see the cash 22. even if you've had Some form of credit in the past, like an overdraft or a mobile phone contract, you may still struggle to get an actual credit card or any other form of credit, because there's not gon na be very much data with the credit reference agencies on which to make That decision and if you've defaulted on debt had a county court judgment declared bankruptcy had an iva or any other similar issue.

You will be in exactly the same boat. The good news is that there are credit card providers out there. That may accept you before you go applying to them. I would strongly recommend using a comparison website to check that you qualify, money supermarket and totally money are both great options.

They give you pretty good coverage without leaving a search on your credit profile, which is good because it won't impact your credit in order to understand whether any of these will accept you also, the exact same credit cards will have a lower apr on a comparison website Than they will, if you go direct and the credit criteria, the reasons for which they will accept the decline, you are often the same. So why apply for a credit card that charges 37.9 on a credit card website when the exact same credit card can come with just a 32.9 interest rate on the comparison website, not that you should ever borrow on these credit cards anyway. It is incredibly expensive, but you see my point: why not get the lower rate? If you can, i've actually worked at designed and launched many of these credit cards when i worked in banks, financial services in my past history, but i have no commercial affiliation of any kind with any of them. There is one really important point with these credit cards.

It looks like there are a lot of different options out there when you go and look at these tables there's just loads of them as you scroll down. But the truth is the vast majority of them are just exact copies of the same thing. You'll have the same credit card that is run by the same credit card company marketed under different brands. So, for example, if you look at new day, they have aqua marbles opus, amazon, fluid and a whole load of high street shop.

Credit cards all run by the same company, vanquish have their own brand vanquish credit cards, chrome, thimble and origin, and they also have had a dozen other brands that they've used in the past, which they sometimes bring uh, bring back as well. Captain one have ocean, luma, post office, think money and the capital one own brand as well. Now many of these will have identical or very similar credit policy. So if you qualify by for one of the credit cards provided by the same provider, there is a high likelihood that you will qualify for others as well, and vice versa.

Also, it does mean that actually, there is only a small handful of these credit card providers. Despite the list, looking like there's a lot of options, let's dive right in my number one in my list is the amazon classic credit card. Now, a lot of these credit cards have three month. Zero percent offers on something this one has three month: zero percent on purchases.

The truth is with these types of credit cards. I would strongly recommend not using these zero percent offers. Three months is a very short time: you're, not really going to be benefiting very much and you'll still have to pay a fee if you use, for example, the zero percent on balance transfers, the only reason they do this is. They hope that you build a balance which you then win repay and begin paying interest at the end of the three months.

It's just designed for that. So i would ignore these benefits on all of these credit cards for the purpose of this review. There are two big benefits, though, with this particular credit card. The first one is you get a 20 pound gift card if you get accepted, which is a real money reward which is better than pretty much any of the other credit cards in this space will give you and it's definitely a lot better than nothing.

They also promise a 500 pound minimum credit limit, which is good because most of the other credit cards will have a 200 or 250 pound minimum limit, and that's what the vast majority of people applying for those other credit cards will actually get. But the likelihood is that, because this limit is higher, it is also going to be more difficult to get usually only people with better credit profiles will qualify for 500 pounds or higher limits with all of these other credit cards, especially new day. Who are the company who offer this amazon one? So it's definitely important to be aware that it could be more difficult to get this one, because of that now next up is the tesco foundation. Credit card.

This card has a very low interest rate of 27.5 percent fixed, which is very unusual, but it also has some perks on top for every four pound you spend in tesco, including the fuel you'll, get five club cut points for every eight pounds spent elsewhere. You'll get one club card points, so if you convert that to the cash equivalent, that means you roughly get one point. Two five percent cashback on tesco spend and not point one two, five percent ten times less. If you spend outside tesco now.

This is by no means a particularly good reward program. It is not the most lucrative, but it is the only one that is available amongst these types of credit cards. So it's definitely something to consider, especially if you're, a tesco shopper, because at least you're going to get something which is more than what everyone else will give you next on. My list is a credit card provided by zopper again on comparison websites like totally money.

You can get this credit card at just 28.9 api instead of the 34.9. If you go, direct zoppa only launched their credit cards a few months ago, so they're brand new to this, and the one perk you get is that the card is free to use abroad. Using the live visa exchange rate, which is great as everyone probably at this point in time, is itching to travel. The downside was upper is that, because of their core lending business and their peer-to-peer nature, they may not accept as many people as some of the other credit cards.

34.9 is the highest interest rate you could get, but it could be lower if your credit is better with the other credit cards. It works the other way around. So, although that is sort of a good feature in a way because it may mean that the credit card isn't going to be as expensive, it also points to the fact that it may well be that they won't accept people with higher risk scores according to them. That other providers may accept instead.

Another really interesting option is the aqua advance card. I haven't seen many people talk about this one at all and compared to most of the other vanilla credit cards. It has one really neat perk when it comes to interest rates. Now again, you shouldn't use these credit cards to actually borrow money in the sense that you will have to ever pay the interest.

The good thing to do the right thing to do with these is to repay it in full, so you never have to pay that interest, because it's so expensive, but the advance card will reduce your interest rates every year for three years. If you stay within your credit limit and make all your monthly payments on time now, they don't say by how much they will reduce it. It used to be a fixed five percent per year some time ago, but now it seems to be variable depending on your credit profile. So i don't know how much will actually go down by.

Remember, though, that if you apply, you could get a purchase interest rate and all the other interest rates which will be much higher as high as 59.95 percent. So if you get the advance card with that, the rate reductions probably won't matter that much, they won't sweeten. The deal because that would be a really bad starting apr anyway. Next on my list is capital one classic.

You can get sub 30 interest rates if you go through comparison websites and this card doesn't really have any perks. What it does have, though, is simplicity. If that's the kind of thing you're looking for you get one interest rate for all types of transactions. So if you were in a position where you forgot your debit card, but you had to go and get some cash out and you had to use your credit card, you wouldn't have to pay that huge exorbitant interest rate.

Now you will still have to pay fees for that cash transaction which are expensive and cash transactions can have a short term negative impact on your credit profile. So don't do it if you can avoid it capital one is also unique in uk and that their business is jointly regulated not only by the fca but also indirectly, by the occ over in the us. So as a result of that, they actually do things a little bit differently, some of the other providers that you might not really appreciate when you apply for most credit cards, there is a rule in the uk. That means that 51 or more of all the people who apply have to get the advertised interest rate.

So if a credit card is advertised at 34.9 percent, that means at least half the people have to get the 34.9 or lower apr. However, in the uk that also means that 49 people could get a much higher interest rate instead. So if you were to apply, for example, for a new day credit card or a vanquish credit card, you could get an interest rate of 60 or even 70. Even if you get accepted capital, one does not do that.

If you get the credit card, you will get the advertised rate every single time, which is nice. Some other credit cards have recently begun, trying to copy them to try to look as good as them, but only on comparison websites. They don't do it on their own site, which capital one still does, but they sometimes will still decline your application, these other providers and then offer you as a sort of alternative credit card with a higher interest rate instead, which is a way of getting around this Rule, in any case, the capital one credit card is no nonsense, you get the card you apply, for it is very easy and it will help you go and build your credit. I hope you guys found this useful if you have don't forget to hit the like button for the youtube algorithm, so that more people can go and watch this video.

Thank you so much for watching. I really really appreciate it and, as always i'll see you guys later, you.