Credit cards

A credit card allows you to make purchases that you don't have to pay for straight away.

You'll receive a bill detailing what you've spent each month and you can choose to pay off everything, or just the minimum amount required. It's important to know that any amount not paid off at this point will start to accrue interest, which will be added to the total you owe.

Some credit cards offer advantages, such as interest-free periods or rewards points when you spend. Some are free to hold and others have an annual fee attached.

Most banks have a range of credit cards, with different features for different needs. You can usually compare cards and apply online.

When you apply, the provider will do a series of status and affordability checks, for example checking your income, credit history and age (you'll need to be 18 or over). If you meet all of the criteria, you'll receive your card.

The best card for you depends on your circumstances.

If you have outstanding debt on more than one credit card, a balance transfer card may help you consolidate what you owe into one place.

If you travel a lot, you may want to look for a card with benefits like airport lounge access or airline miles.

You can compare the interest rates, fees and benefits of different cards online before you apply.